Section 14:
Custodian to be public servant
Every Custodian of a corresponding new bank shall be
deemed to be a public servant for the purposes of Chapter IX of the Indian Penal Code (45 of 1860).
5/1970 - The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 ▶
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