Nomination in respect of deposits bondi.
ofc.
"32A. CO Notwithstanding anything contained in any other law for the time being in force, where a nomination in respect of any deposits, bonds or other securities is made in the prescribed manner, the amount due on stach deposits, bonds or securities shall, on the death of the depositor or holder (hereof, best in, and be payable to, the nominee subfine. 1] THE GAZETTE OF INDIA EXTRAORDINARY 11 ject to any right, title or interest of any other person to such, deposits, bonds or securities.
(2) Any payment by the Development Bank in accordance with the provisions of sub-sectjon (1) shall constitute a full discharge 1.0 the Development Bank of its liability in respect of such deposits, bonds or securities.".
19. In section 37 of the principal Act,—
(a) in sub-section (2),—
(i) in clause (a), the words "and the manner of adoption of resolutions" shall be inserted at the end;
(w) after clause (da), the following clauses shall be inserted, namely:— "(db) the manner in which and the conditions subjeci to which shares maj be held and transferred;
(dc) matters relating io 'he rights of shareholders;
(dd) the maintenance of share registers and the particulars to be entered therein;
(de) the safeguards t0 be observed in the maintenance of register of shareholders on computer floppies or diskettes;
(df) the inspection and closure of the legisters and all other matters connected therewith;
(dg) the holding and conduct of elections of directors under this Act and the determination of disputes regarding the qualification of directors;
(dh) the manner in which general meetings shall be convened, the procedure to be followed thereat, the manner in which voting rights may be exercised, resolutions passed and business transacted in such meetings and other matters relating to meetings;
(di) the manner in which notices may be served on shareholders or other persons;
(dj) the manner in which nomination may be made in terms of section 32A;";
(b) for sub-section (4), the following shall be substituted, namely: — "(4) Every regulation or iule made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the regulation or rule Am;«dmerrf of 37, 12 THE GAZETTE OF INDIA EXTRAORDINARY [PART II_SEC. 1] or both Houses agree that the regulation or rule should not be made, the regulation or rule shall thereafter have effect only in such modified form or be oi no effect, as ihe case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that regulation or rule.".
SHANKER DAYAL SHARJvIA, President.
A. C. C. UNNI, A dditional Secretary to the Govt, of India.
^HINTED BY THE MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI \N1> PUBfJSHFD BY THE CONTROLLER OF PUBLICATIONS, DHLHI, 1994.