Section 4B
Transfer of capital.
The Small Industries Development Bank of India Act, 1989
About this Act
An Act to establish the Small Industries Development Bank of India as the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto.
1[4B. Transfer of capital.--On such date as the Central Government may, in consultation with the
Development Bank, by notification, specify (hereinafter referred to as "the specified date"), not less than
fifty-one per cent. of the issued capital of the Small Industries Bank which has been subscribed by the
Development Bank as on the date immediately preceding the specified date shall, stand transferred to, and
vested in, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and
other institutions owned or controlled by the Central Government in such proportion, manner and on such
terms and conditions as may be determined by that Government.]
Notes
1. Subs. by Act 7 of 2000, s. 3, for sections 4 to 6 (w.e.f. 27-3-2000).