The Small Industries Development Bank of India Act

Staff of Small Industries Bank

Delegation of powers

Returns

Obligations as to fidelity and secrecy

Defects in appointment not to invalidate acts, etc

Amounts and securities to be held in trust

Rights of Small Industries Bank in case of default

Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate

Power to call for repayment before agreed period

Special provisions for enforcement of claims by Small Industries Bank

Small Industries Bank to have access to records

Validity of loan or advance not to be questioned

Indemnity of Directors

Protection of action taken under this Act

Nomination by depositors or holders of bonds or other securities

Arrangement with Small Industries Bank on appointment of directors to prevail

Act 18 of 1891 to apply in relation to Small Industries Bank

Act 10 of 1949 not to apply to Small Industries Bank

[Omitted.]

Liquidation of Small Industries Bank

Power to make rules by Central Government

Power to make regulations

[Repealed]

Power to remove difficulties


MISCELLANEOUS


If any difficulty arises in giving effect to the provisions of this
Act, the Central Government may, in consultation with the Development Bank, by order, do anything, not
inconsistent with such provisions, for the purpose of removing the difficulty:

Provided that no such order shall be made after the expiration of three years from the date on which
this Act receives the assent of the President.

LAWGIST

# 54 Power to remove difficulties