Act Number: 5

Act Name: The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Year: 1970

Enactment Date: 1970-03-31

Long Title: An Act to provide for the acquisition and transfer of the undertakings of certain banking companies, having regard to their size, resources, coverage and organisation, in order to control the heights of the economy and to meet progressively, and serve better, the needs of development of the economy in conformity with national policy and objectives and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 3B: Register of beneficial owners
    1 [3B. Register of beneficial owners.--The register of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996), shall be deemed to be a register of shareholders for the purpose of this Act.
     Explanation.--For the purposes of section 3, section 3A and this section, the expressions "beneficial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996).]
Notes:
1. Ins. by s. 18, ibid. (w.e.f. 15-1-1997).
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