The Small Industries Development Bank of India Act, 1989
Central Act · Act 39 of 198964 provisions1 citing judgments
The enactment
| Long title | An Act to establish the Small Industries Development Bank of India as the principal financial institution for the promotion, financing and development of industry in the small-scale sector and to co-ordinate the functions of the institutions engaged in the promotion, financing or developing industry in the small-scale sector and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 39 of 1989 |
| Year | 1989 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 64 |
| Subjects | financial |
Full text, provision by provision
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- Section 1 Short title, extent and commencement.
- Section 2 Definitions.
- Section 3 Establishment and incorporation of Small Industries Development Bank of India.
- Section 4 Authorised capital.
- Section 4A Conversion of equity shares into redeemable preference shares.
- Section 4B Transfer of capital.
- Section 4C Issued capital.
- Section 4D Reduction of share capital.
- Section 4E Restriction on exercising of voting right.
- Section 5 Management.
- Section 6 Constitution of Board.
- Section 8 Disqualification of directors.
- Section 9 Vacation and resignation of office by directors.
- Section 12 Executive Committee and other committees.
- Section 12A Fees and allowances of directors and members of committees.
- Section 13 Business of Small Industries Bank.
- Section 14 Loans by Central Government.
- Section 15 Borrowings and acceptance of deposits by the Small Industries Bank.
- Section 16 Investment.
- Section 17 Power to transfer rights.
- Section 18 Power to acquire rights.
- Section 19 Loan in foreign currency.
- Section 20 Grants, donations, etc., to the Small Industries Bank.
- Section 20A Free transferability of shares.
- Section 20B Register of shareholders.
- Section 20C Trust not to be entered on the register of shareholders.
- Section 20D Board's right to refuse registration of transfer of shares.
- Section 20E Shares to be securities under the Indian Trusts Act, 1882.
- Section 20F Annual general meeting.
- Section 20G Matters to be discussed and procedure in annual general meeting.
- Section 21 Small Industries Development Assistance Fund.
- Section 22 Credits to Small Industries Development Assistance Fund.
- Section 23 Utilisation of Small Industries Development Assistance Fund.
- Section 24 Debits to Small Industries Development Assistance Fund.
- Section 25 Accounts and audit of Small Industries Development Assistance Fund.
- Section 26 Liquidation of Small Industries Development Assistance Fund.
- Section 27 Small Industries General Fund.
- Section 28 Preparation of accounts and balance-sheet.
- Section 29 Disposal of profits accruing to Small Industries General Fund.
- Section 30 Audit.
- Section 31 Saving.
- Section 32 Transfer of part of business of Development Bank.
- Section 33 Staff of Small Industries Bank.
- Section 34 Delegation of powers.
- Section 35 Returns.
- Section 36 Obligations as to fidelity and secrecy.
- Section 37 Defects in appointment not to invalidate acts, etc.
- Section 37A Amounts and securities to be held in trust.
- Section 38 Rights of Small Industries Bank in case of default.
- Section 39 Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate.1 citing judgment
- Section 40 Power to call for repayment before agreed period.
- Section 41 Special provisions for enforcement of claims by Small Industries Bank.
- Section 42 Small Industries Bank to have access to records.
- Section 43 Validity of loan or advance not to be questioned.
- Section 44 Indemnity of Directors.
- Section 45 Protection of action taken under this Act.
- Section 46 Nomination by depositors or holders of bonds or other securities.
- Section 47 Arrangement with Small Industries Bank on appointment of directors to prevail.
- Section 48 Act 18 of 1891 to apply in relation to Small Industries Bank.
- Section 49 Act 10 of 1949 not to apply to Small Industries Bank.
- Section 51 Liquidation of Small Industries Bank.
- Section 51A Power to make rules by Central Government.
- Section 52 Power to make regulations.
- Section 54 Power to remove difficulties.
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