BR ACT 1949 AACS PDF

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Full text containing the act, Banking Regulation Act, , with all the sections, schedules, short title, enactment date, and footnotes. provisions of Banking Regulation Act, (As Applicable to Co-operative .. In terms of Section 24 of the Banking Regulation Act , (AACS), every. Primary. Section 23 of Banking Regulation Act, (AACS) – Extending Value-Added Services through ATMs. Please refer to our circular

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Prohibition of floating charge on assets.

Banking Regulation Act, | Bare Acts | Law Library | AdvocateKhoj

Act to apply to Co-operative Societies subject to modifications. Power of Reserve Bank to appoint additional Directors. Election of new Directors. Requirement at to minimum paid-up capital and reserves.

Power of High Court to decide all claims in respect of banking companies. Preferential payments to depositors. Special provisions to make calls on contributories. Power of High Court to enforce schemes of arrangements, etc.

Validation of certain proceedings.

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The Banking Regulation Act, is a legislation in India that regulates all banking firms in India. Notice of claims of other persons regarding safety lockers not receivable.

Restrictions as to payment of dividend. An Act to consolidate and amend the law relating to banking. Constitution of the Tribunal.

Retrieved from ” https: Transfer of pending proceedings. Application of Companies Act to liquidators. Certain claims for compensation barred. Alteration of memorandum of a banking company. Views Read Edit View history. Prohibition of common Directors. Special provisions for private banking companies.

Nomination for payment of depositors’ money. Provided that the power exercised by the Administrator shall be valid notwithstanding that such power is exercisable by a resolution passed in the general meeting of such multi-State co-operative bank.

Banking Regulation Act, 1949

The Act supplements the Companies Act, Provided that nothing in clause b of sub-section 1 shall be deemed to prohibit—. Certain provisions of the Act not to apply to certain banking companies.

Preliminary report by official liquidator.

Procedure for amalgamation of banking companies. Special provisions for punishing offences in relation to banking companies being wound up.

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India and International Law: Power of Reserve Bank to appoint Chairman of a banking company. Act 18 of and Act 46 of to apply in relation to co-operative banks. Notice to preferential claimants and secured and unsecured creditors.

Public examination of Directors and Auditors, etc. Power of Central Government to acquire undertakings of banking companies in certain cases. Prohibition of employment of Managing Agents and restrictions on certain forms of employment. Documents of banking company to be evidence.

Banking Regulation Act, – Wikipedia

Tribunal to have powers of a civil court. Restrictions on loans and advances. Free for one month and pay only if you like it.

Display of audited balance-sheet by companies incorporated outside India.