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Section 20C: Trust not to be entered on the register of shareholders.

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

[20C. Trust not to be entered on the register of shareholders.--Notwithstanding anything contained in section 20B, no notice of any trust, express, implied or constructive, shall be entered on the register of shareholders or be receivable by the Small Industries Bank:

Provided that nothing in this section shall apply to a depository in respect of the shares held by it as a registered owner on behalf of a beneficial owner.

Explanation.--For the purposes of section 20B and this section, the expressions "beneficial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996).]

Where this provision sits

ActThe Small Industries Development Bank of India Act, 1989
Section20C
Marginal noteTrust not to be entered on the register of shareholders.
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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