The Deposit Insurance and Credit Guarantee Corporation Act

Staff of Corporation

Returns from insured banks

Corporation to have access to records

Inspection of insured banks by Reserve Bank

Corporation to furnish information to Reserve Bank

Reserve Bank to furnish information to Corporation

Declaration of fidelity and secrecy

Indemnity of directors

Defects in appointment not to invalidate acts, etc

Protection of action taken under this act

Companies Act, 1956 and insurance act, 1938 not to apply

Liquidation of Corporation

Power of Central Government to give directions

Dispute as to amount of premium

Penalties

Offences by companies

Cognizance and trial of offences

Regulation

Repealed


MISCELLANEOUS


(1) No act or proceeding of the Board or
of any committee of the Corporation shall be questioned on the ground merely of the existence of any
vacancy or defect in the constitution of the Board or committee.

(2) No act done by any person acting in good faith as a director of the Board shall be deemed to be
invalid merely on the ground that he was disqualified to be a director or that there was any other defect in
his appointment.

LAWGIST

# 41 Defects in appointment not to invalidate acts, etc