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Section 20A: Free transferability of shares.

The Small Industries Development Bank of India Act, 1989Central Act · Act 39 of 1989

[20A. Free transferability of shares.--(1) Save as otherwise provided in sub-section (2), the equity shares of the Small Industries Bank shall be freely transferable.

(2) Nothing contained in sub-section (1) shall entitle the Development Bank, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government to transfer any shares held by them in the Small Industries Bank if such transfer will result in reducing the equity shares held in aggregate by them to less than fifty-one per cent. of the issued equity share capital of the Small Industries Bank.]

Where this provision sits

ActThe Small Industries Development Bank of India Act, 1989
Section20A
Marginal noteFree transferability of shares.
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. . Ins. by s. 12, ibid. (w.e.f. 27-3-2000).

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