Section 10: Transferability of shares.

The State Bank of India Act, 1955Central Act · Act 23 of 1955

(1) Save as otherwise provided in sub-section (2), the shares of the State Bank shall be freely transferable.

(2) Nothing contained in sub-section (1) shall entitle the [Central Government] to transfer any shares held by it in the State Bank if such transfer will result in reducing the shares held by it to less than [fifty-one per cent. of the issued capital consisting of equity shares,] of the State Bank.

Where this provision sits

Act	The State Bank of India Act, 1955
Section	10
Marginal note	Transferability of shares.
Jurisdiction	Central
Status	In 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.

substituted, Act 32 of 2007. . Subs. by Act 32 of 2007, s. 4, for "Reserve Bank" (w.e.f. 29-6-2007).
substituted. . Subs. by 27 of 2010, s. 5, for "fifty-five per cent. of the issued capital" (w.e.f. 15-9-2010).

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