Section 46
Preparation of balance-sheet, etc., of National Bank.
The National Bank for Agriculture and Rural Development Act, 1981
About this Act
An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto.
(1) The balance-sheet and accounts of
the National Bank shall be prepared and maintained in such form and manner as may be prescribed.
(2) The Board shall cause the books and accounts of the National Bank to be balanced and closed as on the thirtieth day of June 1[or such other date in each year as the Central Government may, by notification in the Official Gazette, specify].
2[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the balancing and closing of, or for other matters relating to, the books or accounts in respect of the concerned years.]
(2) The Board shall cause the books and accounts of the National Bank to be balanced and closed as on the thirtieth day of June 1[or such other date in each year as the Central Government may, by notification in the Official Gazette, specify].
2[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this sub-section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the balancing and closing of, or for other matters relating to, the books or accounts in respect of the concerned years.]
Notes
1. Subs. by Act 66 of 1988, s. 46, for ", each year" (w.e.f. 30-12-1988).
2. Ins. by s. 46, ibid. (w.e.f. 30-12-1988).
2. Ins. by s. 46, ibid. (w.e.f. 30-12-1988).