Section 4B

Transfer of share capital to Development Bank.

The State Financial Corporations Act, 1951

  • Act 63 of 1951
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to provide for the establishment of State Financial Corporations.

All sections
    1[4B. Transfer of share capital to Development Bank .--On such date as the Central Government may, by notification in the Official Gazette, specify (hereinafter referred to as the specified date), all the shares of every Financial Corporation subscribed by the Reserve Bank as on the date immediately preceding the specified date, shall, stand transferred to, and vested in, the Development Bank.]

Notes

1. Ins. by Act 52 of 1975, s. 27 (w.e.f. 16-2-1976).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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