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Section 5: Appointment of trustee

The Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979State Act of Himachal Pradesh · Act 23 of 1979

(i) The Registrar or any other person appointed by the State Government in this behalf shall be the trustee for the purposes of securing the fulfilment of the obligations of the State Bank to the holders of debentures issued by the Board.

(ii) The trustee shall be a corporation sole, by the name of the trustee for the debentures in respect of which he is appointed, and shall have perpetual succession and a common seal, and in his corporate name may sue and be sued.

1. Substituted for the words "Land Development Bank" vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.

2. Substituted for the words "Primary Land Development Bank" vide H.P. Act No.

16 of 1987, effective from 16th November, 1987.

3. Substituted for the words "Land Development Bank" vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.

4. Substituted for the words "Land Development Bank" vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.

5. Substituted for the words "Land Development Bank" vide H.P. Act No. 16 of 1987, effective from 16th November, 1987.

THE HIMACHAL PRADESH CO-OPERATIVE AGRICULTURE AND RURAL 9 DEVELOPMENT BANKS ACT, 1979

Where this provision sits

ActThe Himachal Pradesh Co-operative Agriculture and Rural Development Banks Act, 1979
Section5
Marginal noteAppointment of trustee
JurisdictionState of Himachal Pradesh
StatusIn force as published by the source

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