Section 39
Books to be balanced each year.
The State Bank of India Act, 1955
About this Act
An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.
The Central Board shall cause the books of the State Bank to
be closed, and balanced 1[as] on the 31st day of 2[March] 3[or such other date in each year as the Central
Government may, by notification in the Official Gazette, specify:]
4[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books in respect of the concerned years.]
4[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books in respect of the concerned years.]
Notes
1. Ins. by Act 48 of 1973, s. 14 (w.e.f. 31-12-1973).
2. Subs. by Act 27 of 2010, s. 26, for “December” (w.e.f. 15-9-2010).
3. Subs. by Act 66 of 1988, s. 14, for “in each year” (w.e.f. 30-12-1988).
4. The proviso ins. by s. 14, ibid. (w.e.f. 30-12-1988).
2. Subs. by Act 27 of 2010, s. 26, for “December” (w.e.f. 15-9-2010).
3. Subs. by Act 66 of 1988, s. 14, for “in each year” (w.e.f. 30-12-1988).
4. The proviso ins. by s. 14, ibid. (w.e.f. 30-12-1988).