Section List

Act Number: 62

Act Name: The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982

Year: 1982

Enactment Date: 1982-11-06

Long Title: An Act to provide, in the public interest, for the acquisition of certain shares of the State Bank of Sikkim for the purpose of better consolidation and extension of banking facilities in the State of Sikkim and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section NumberTitleActions
1 Short title and commencement.
2 Definitions.
3 Vesting in the Central Government of certain shares of Sikkim.
4 Vesting of undertaking of Sikkim Bank.
5 General effect of vesting.
6 Vesting of the shares and undertakings of Sikkim Bank in the State Government.
7 Power of State Government to direct vesting of the undertakings of Sikkim Bank the Sikkim Co-operative bank.
8 Payment of amounts.
9 Management, etc., of the undertakings of Sikkim Bank.
11 Transfer of service of existing officers and employees of the Sikkim Bank to the co-operative bank.
12 Act to have overriding effect.
13 Protection of action taken in good faith.
14 Penalties.
15 Offences by companies.
16 Delegation of powers.
17 Power of Central Government to make rules.
18 Power to remove difficulties.
19 References to Sikkim Bank in other laws.
20 Dissolution of Sikkim Bank.
10Date of delivery, possession of property acquired and documents relating thereto.
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