Section 58
Dissolution of existing banks. Repealed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 this Act or in any
other law for the time being in force or in any contract or other instrument, an existing bank shall, on
such date as the Central Government may, by notification in the Official Gazette, specify in this
behalf, stand dissolved.