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Section 40: Returns.

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

(1) The State Bank shall furnish to the Central Government and to the Reserve Bank [within three months from the 31st day of [March] [or the date specified under section 39, as the case may be] as on which its books are closed and balanced]; its balance sheet, together with the profit and loss account and the [auditor’s report and a report by the Central Board on the working and activities of the State Bank] during the period covered by the accounts:

[Provided that the Central Government may, after consultation with the Reserve Bank, extend the said period of three months by such further period, not exceeding three months, as it may think fit.]

[(2) The balance sheet and the profit and loss account shall be signed by the chairman, managing directors and at least three other directors of the Central Board.]

(3) The State Bank shall also, within two months from the date on which its accounts are closed and balanced, transmit to the Central Government and the Reserve Bank a statement showing, as far as may be available, the name, address and occupation of, and the number of shares held by, each shareholder of the State Bank as on the said date.

[(4) The Central Government shall cause the auditors’ report and the report by the Central Board on the working and activities of the State Bank to be laid, as soon as may be after they are received, before each House of Parliament ***.

Where this provision sits

ActThe State Bank of India Act, 1955
Section40
Marginal noteReturns.
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.

  • substituted, Act 48 of 1973. . Subs. by Act 48 of 1973, s. 15, for certain words (w.e.f. 31-12-1973).
  • substituted, Act 27 of 2010. . Subs. by Act 27 of 2010, s. 27, for “December” (w.e.f. 15-9-2010).
  • inserted, Act 66 of 1988. . Ins. by Act 66 of 1988, s. 15 (w.e.f. 30-12-1988).
  • substituted, Act 1 of 1984. . Subs. by Act 1 of 1984, s. 44, for certain words (w.e.f. 15-2-1984).
  • added, Act 48 of 1973. . The proviso added by Act 48 of 1973, s. 15 (w.e.f. 31-12-1973).
  • substituted, Act 27 of 2010. . Subs. by Act 27 of 2010, s. 27, for sub-section (2) (w.e.f. 15-9-2010).
  • inserted, Act 1 of 1984. . Ins. by Act 1 of 1984, s. 44 (w.e.f. 15-2-1984).
  • omitted, Act 81 of 1985. . Certain words omitted by Act 81 of 1985, s. 3 (w.e.f. 1-5-1986).

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