Section 59:
Construction of references to existing banks.
1[59. Construction of references to existing banks.--(1) For the purposes of sections 45, 49, 55,
58 and the First Schedule, the expression "existing bank" shall include the Bank of Jaipur Limited.
(2) Except as otherwise provided in any general or special order made by the Central
Government, any reference in any law, other than this Act, or in any contract or other instrument--
(a) to an existing bank, shall be construed as a reference to the corresponding new bank;
(b) to the Bank of Jaipur Limited, shall be construed as a reference to the State Bank of
Bikaner.]
Notes:
1. Subs. by Act 56 of 1962, s. 3, for section 59 (w.e.f. 1-1-1963).