45H Chapter IIIB not to apply in certain cases | Knowledge Bank

¹[CHAPTER IIIB

PROVISIONS RELATING TO NON-BANKING INSTITUTIONS

RECEIVING DEPOSITS AND FINANCIAL INSTITUTIONS

45H. Chapter IIIB not to apply in certain cases.

The provisions of this Chapter shall not apply to the State Bank or a banking company as defined in section 5 of the ²[Banking Regulation Act, 1949] or ³[a corresponding new bank as defined in clause (da) of section 5 of that Act or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959] or ⁴[a Regional Rural Bank or a co-operative bank] or a primary agricultural credit society or a primary credit society]:

Provided that for the purposes of this Chapter, the ⁵[Tamil Nadu Industrial Investment Corporation Limited] shall not be deemed to be a banking company.

Note:

^1. Ins. by Act 55 of 1963, s.5. (w.e.f. 1-2-1964).

^2.Subs. by Act 51 of 1974, s.3, for "Banking Companies Act, 1949.

^3.Subs. by Act 1 of 1984, s.8, for certain words (w.e.f. 15-2-1984).

^4.Subs. by Act 21 of 1976, s.33, for the words "a co-operative bank" (w.e.f. 26.9.1975).

^5.Subs. by Act 51 of 1974, s. 16, for "Madras Industrial Investment Corporation Limited".

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