[51. Requirements of foreign law to be complied within certain cases.--If, according to the laws of any country outside India, the provisions of this Act by themselves are not effective to transfer to and vest in the State Bank any asset or liability which forms part of the undertaking of the Imperial Bank and which is situate in that country, the Imperial Bank shall take all such steps as may be required by the laws of that country for the purpose of effecting or perfecting such transfer and vesting, and in connection therewith the Imperial Bank may realise any asset and discharge any liability and transfer the net proceeds thereof to the State Bank.]
Section 51: Requirements of foreign law to be complied with in certain cases.
The State Bank of India Act, 1955Central Act · Act 23 of 1955
Where this provision sits
| Act | The State Bank of India Act, 1955 |
|---|---|
| Section | 51 |
| Marginal note | Requirements of foreign law to be complied with in certain cases. |
| 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 33 of 1955. . Subs. by Act 33 of 1955, s. 5, for section 51 (w.e.f. 1-4-1957).
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