The Banking Companies (Acquisition and Transfer of Undertakings) Act

Closure of accounts and disposal of profits

Annual general meeting

Transfer of unpaid or unclaimed dividend to Unpaid Dividend Account.

Corresponding new bank deemed to be an Indian company

Vacation of office of Chairman, etc

Bonus

Obligations as to fidelity and secrecy

Custodian to be public servant

Certain defects not to invalidate acts or proceedings

Indemnity

Arrangement with corresponding new bank on appointment of directors to prevail

Construction of references to existing banks

Dissolution

Supersession of Board in certain cases

Power to make regulations

[Repealed.]

Repeal and saving


MISCELLANEOUS


For the purposes of the
Income-tax Act, 1961 (43 of 1961), every corresponding new bank shall be deemed to be an Indian
company and a company in which the public are substantially interested.

LAWGIST

# 11 Corresponding new bank deemed to be an Indian company