Section 3B
Register of beneficial owners.
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
About this Act
An Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and organisation, in order further to control the heights of the economy, to meet progressively, and serve better, the needs of the development of the economy and to promote the welfare of the people, in conformity with the policy of the State towards securing the principles laid down in clauses (b) and (c) of article 39 of the Constitution and for matters connected therewith or incidental thereto.
1[3B. Register of beneficial owners.]--The register of benificial owners maintained by a depository
under section 11 of the Depositories Act, 1996 (22 of 1996), shall be deemed to be a register of
shareholders for the purposes of this act.
Explanation.--For the purposes of section 3, section 3A and this section , the expressions "benificial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996.]
Explanation.--For the purposes of section 3, section 3A and this section , the expressions "benificial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996.]
Notes
1. Ins. by s. 21, ibid. (w.e.f. 15-1-1997).