Section 15: Trusts not to be entered on the register of shareholders.

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

[15. Trusts not to be entered on the register of shareholders.--No notice of any trust, express, implied or constructive, shall be entered on the register of shareholders or be receivable by the State Bank.]

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

Explanation.--For the purposes of section 13, section 13A 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

Act	The State Bank of India Act, 1955
Section	15
Marginal note	Trusts not to be entered on the register of shareholders.
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 3 of 1993. . Subs. by Act 3 of 1993, s. 7, for section 15 (w.e.f. 15-10-1993).
inserted, Act 8 of 1997. . The proviso and Explanation ins. by Act 8 of 1997, s. 5 (w.e.f. 15-1-1997).

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