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Bare acts > Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006 > Section 11


11. Amendment of section 10A. - In section 10A of the Bank (Second) Nationalisation Act,-

(a) in sub-section (2), for the words "shall be entitled to discuss", the words "shall be entitled to discuss, approve and adopt" shall be substituted;

(b) after sub-section (2), the following sub-section shall be inserted, namely:-

"(3) Nothing contained in this section shall apply during the period for which the Board of Directors of a corresponding new bank had been superseded under sub-section (1) of section 18A: Provided that the Administrator may, if he considers it appropriate in the interest of the corresponding new bank whose Board of Directors had been superseded, call annual general meeting in accordance with the provisions of this section.".





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