Section 20
Shares to be approved securities. Repealed
The State Bank of India (Subsidiary Banks) Act, 1959
About this Act
An Act to provide for the formation of certain Government or Government associated banks as subsidiaries of the State Bank of India and for the constitution, management and control of the subsidiary banks so formed, and for matters connected therewith, or incidental thereto.
Notwithstanding anything contained in the Acts
hereinafter mentioned in this section, the shares of a subsidiary bank shall be deemed to be included
among the securities enumerated in section 20 of the Indian Trusts Act, 1882 (2 of 1882), and also to
be approved securities for the purposes of the Insurance Act, 1938 (4 of 1938), and the
Banking Companies Act, 1949 (10 of 1949).