REGISTERED No. D-(D)-72 The Gazette of India EXTRAORDINARY
PART II—Section 1 PUBLISHED BY AUTHORITY No. 78] NEW DELHI, TUESDAY, SEPTEMBER 11, 1984/BHADRA 20, 1906 Separate paging is given to this Part in order that it may be filed as a separate compilation MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 11th September, 1984/Bhadra 29, 1906 (Saka) The following Act of Parliament received the assent of the President on the 11th September 1984, and is hereby published for general information: — THE BANKING LAWS (AMENDMENT) ACT, 1984 No. 64 OF 1984 [11th September, 1984.]
An Act farther to amend the State Banks of India Act, 195 , the State Bank of India (Subsidiary Bank) Act, 1959, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
BE it enacted by Parliament in the Thirty-fifth Year of the Republic of India as follows: —
1. This Act may be called the Banking Laws (Amendment) Act, 1984.
2. In the State Bank of India Act, 19S5, after section 43, the following section shall be inserted, namely:— "43A. (1) No officer, adviser or other employee [other than an employee within the meaning of clause (13) of section 2 of the Short title.
Insertion of new section 43A in Act 23 of 1956.
Bonus.
( 1 ) 2 THE GAZETTE OF INDIA EXTRAORDINARY LPART II— Payment of Bonus Act, 1965] of the State Bank shall be entitled to be paid any bonus.
21 «* i960.
(2) No employee of the State Bank, being an employee within the meaning of clause (13) of section 2 of the Payment of Bonus Act, 1965, shall be entitled to be paid any bonus except in accordance with the provisions of that Act.
21 of 1965.
(3) The provisions of this section shall have effect notwithstanding any judgment, decree or order of any court, tribunal or other authority and notwithstanding anything contained in any other provision of this Act or in the Industrial Disputes Act, 1947, or any other law for the time being in force or any practice, usage or custom or any contract, agreement, settlement, award or other instrument.".
14 of 1947.
3. In the State Bank of India (Subsidiary Banks) Act, 1959, after section 50, the following section shall be inserted, namely:-—• Insertion of new section 50A in Act 38 of 1969.
"50A. (I^S'\o oilicer, adviser or other employee [other than an employee witt; the meaning of clause (13) of section 2 of the Payment o-P BoniMAct, 1965] of a subsidiary bank shall be entifed to be paid any bonus.
21 of 1965.
Bonus.
(2) No erTployee of a subsidiary bank, being an employee within the meaning c1J-PT â'ase (13) of section 2 of the Payment of Bonus Act, 1965, shall be £*^led to be paid any bonus except in accordance with i.hfi nrnvic:inn<5 t.hnt Act 21 of 1965.
(3) Th. 'o^Ksions of this section shall have effect notwithstanding any judgoKil, decree or order of any court, tribunal or other authority and 'notwithstanding anything contained in any other provision of this Act or in the Industrial Disputes Act, 1947, or any other law for the time being in force or any practice, usage or custom or any contract, agreement, settlement, award or other instrument.".
14 of 1947.
4. In the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, after section 12, the following section shall be inserted, namely: — Insertion of new section 12A in Act 5 of 1970.
"12A. (1) No officer or other employee [other than an employee within tho meaning of clause (13) of section 2 of the Payment of Bonus Act, 1965] of a corresponding new bank shall be entitled to be paid any bonus.
21 of 1963.
Bonus.
(2) No employee of a corresponding new bank, being an employee within the meaning of clause (25) of section 2 of the Payment of Bonus Act, 1965, shall be entitled to be paid any bonus except In accordance with the provisions of that Act.
21 of 1965.
(3) The provisions of this section shall have effect notwithstanding any judgment, decree or order of any court, tribunal or other SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 3 authority and notwithstanding anything contained in any other provision of this Act or in the Industrial Disputes Act, 1947, or any other law for the time being in force or any practice, ir age or custom or any contract, agreement, settlement, award or other instrument.".
14 of 1947,
5. In the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, after section 12, the following section shall be inserted, namely: — Insertion of new Section 12A in Act 40otf 1980.
12A. (1) No officer or other employee [other than an employee within the meaning of clause (13) of section 2 of the Payment of Bonus Act, 1965] of a corresponding new bank shall be entitled to be paid any bonus.
Bonus.
21 of 1965.
(2) No employee ct a corresponding new bank, being an employee within the meaning of clause (13) of section 2 of the Payment of Bonus Act, 1965, shall be entitled to be paid any bonus ex.
cept in accordance wi.h the provisions of that -AC1,.
21 of 196 B.
(3) The provisions of this section shall hav<£>ect notwithstanding any judgment, decree or order of any couMf tribunal or other authority and notwithstanding anything contained in any other provision of thb Act T in the Industrial Disputes Act, 1947, or any other law for the time being in force or any practise, usage or custom or any contract, agreement, settlei. ent, award or o.iher instrument.".
14 of 11)47.
R.^-, V. PERI SASTRI, Secy, t ^ Govt, of ftidia.
PRINTED BY THE CENER\L ATAN-^GFH, GOVERNMENT OP INDIA PRESS^ MINTO ROAD, NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 1984