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Section 5A: Act to override memorandum, articles, etc.

The Banking Regulation Act, 1949Central Act · Act 10 of 1949

[5A. Act to override memorandum, articles, etc.--Save as otherwise expressly provided in this Act,--

(a) the provisions of this Act shall have effect notwithstanding anything to the contrary contained in the memorandum or articles of a banking company, or in any agreement executed by it, or in any resolution passed by the banking company in general meeting or by its Board of Directors, whether the same be registered, executed or passed, as the case may be, before or after the commencement of the Banking Companies (Amendment) Act, 1959 (33 of 1959); and

(b) any provision contained in the memorandum, articles, agreement or resolution aforesaid shall, to the extent to which it is repugnant to the provisions of this Act, become or be void, as the case may be.]

Where this provision sits

ActThe Banking Regulation Act, 1949
Section5A
Marginal noteAct to override memorandum, articles, etc.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 33 of 1959. . Ins. by Act 33 of 1959, s. 3 (w.e.f. 1-10-1959).

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