Section 4C
Payment of amount.
The State Financial Corporations Act, 1951
About this Act
An Act to provide for the establishment of State Financial Corporations.
1[4C. Payment of amount.--The Reserve Bank shall be given by the Development Bank, in cash, for
the transfer to, and vesting in, the Development Bank of the shares of every Financial Corporation which
have been subscribed by the Reserve Bank, an amount equal to the face value of the shares of the
Financial Corporation so subscribed.]
Notes
1. Ins. by Act 52 of 1975, s. 27 (w.e.f. 16-2-1976).