(a>-in swb-seetion r<?>, hi the. portion beginning with the words "cKHttse (cb) ©f^sub-seetion-(I)1' a»d ending with the words "as the case may be,"; the following shall :be substituted, namely: — Si*. 1] THE GAZETTE OF INDIA EXTRAORDINARY 5 H of 1922 43 <*f 1961 "clause (cb) of sect'on, 19 or of a member of a Local Board othei than the chief general manager, the vacancy shall be filled—
(a) in the case of an elected director, by election; and
(b) in th© case of a director nominated under clause (d) of section 19 or a member of a Local Board nominated under clause (c) of sub-section (1) of section 21, by nomination in consultation w*ith the Reserve Bank:
Provided that where the duration of he vacancy in the office of an elected director is likely to be less than six montns, the vacancy may be filled by the remaining directors by coopting a person not disqualified under section 22.";
(b) in sub-section (4), the words, brackets and figure, "of subsection (1)" shall be omitted.
16. In section 31 of the principal Act, in the proviso to sub-secion
(3), in clause (Hi), the words, brackets and figure "of sub-section ( i )" shall be omitted.
1?. In section 35 of the principal Act, in sub-section (10), in clause
(a), for the words and figures "Banking Companies Act, 1949" the words and figures "Banking Regulation Act, 1949" shall b e substituted.
18. In section 36 of the principal Act, in sub-section (4), for the words and figures "Indian Income-tax Act, 1932", the words and figures ''Income-tax Act, 1961" shall be substituted.
19. In section 49 of the principal Act, in sub-section (2), in clause
(c), the words, brackets and figure "of sub-section (1)" shall be omitted.
20. in, Section 50 of the principal Act, in sub-section (Z),—
(i). for clause (b), the following clause shall be substituted, namely:— "(b) the maintenance of register of shareholders, and the particulars to be entered in such register in addition to those specified in sect'on 13, the safeguards to be observed in the maintenance of register of shareholders on computer floppliei or diskettes, the inspection and closure of the register of shareholders and all other matters connected therewith;";
(ii) in clause (c), for the words "served by the different branch register", the words "falling within the jurisdiction of each local head office" shall be substituted;
: (iii) after clause (c), the following clause shall be inserted;
namely:— "(ca) the determination of areas falling within; the jurisdiction of each local head office;";
(iy) in clause (j). the words "on branch registers" shall be ommitted.'
21. (I) As soon as may be after the commencement of the State Bank of India (Amendment) Ordinance, 1993 all branch registers kept by the State Bank at its local head offides, immediately before such oiBinencement, shall W closed and transferred to the Central Office.
Amendment of section
31.
Amendment of section
35.
Amendment of section
36.
Amendment of section
49.
Amendment of section
50.
Transitional provisions.
6 THE GAZETTE OF INJHA BXTRAOBDINARY [PkRT tf*4K'H Amendment of Act 66 of
1988.
Amendment of section
21A.
-' -' (2) All. applications or matters relating to the shares in the branch, registers referred to in sub-sectioa <1) pending at the local head offices immediately before the commencement of the State Bank of India (Amendment) Ordinance, 1§88 shaB be transferred to the Central Office and dealt withy or deposed of, as- $f- tfuch applications or matters were made to, or pending With, the Ctfritral Office.
(3) Every shareholder of the.$tite Bank holding shares in the denomination of one hundred reupees immediately before the commencement of the State Bank of India (Amendment) Ordinance, 1993 shall b« entitled to have the share certificates held by him replaced by share certificates of shares of equivalent vahie in the denomination of ten rupees in accordance with the procedure specified by the State Bank in this behalf. , (22.) For section 13 of the Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988, the foilowing section shall be substituted, namely.— "13. In section 21A of the State Bank Act,— . . . ,
(o) for sub-section (7), the following sub-section shall be substituted, namely: — "(I) Subject to the provisions contained in than section and in sub-section (2> ^1 seetioit 21, a member *rf a Local Board nominated under clause (c) of sub-section (f) of section 21 shall hold office for such term, not exceeding three years, as the Central Government may specify m this behalf and thereafter until his successor has been duly nominated and shall be eligible for renomination:
Provided that no such director shall held office continuously for a perSod1 exceeding six year*.";
<fe) after sub-section (4), the f̂ollowing sub-section shall be inserted, namely:— •3 ••' - • "(5) A member of a Local' Board nominated under clause (c) of Subjection (1) of section' 21 shall hold office •during the pleasure of the Central Government".
SKANKER DAYAL SHABMA, Pretidmt.
K. L. MOHANPUBIA, Secy. lo. ths Govt, g§ H&a.
PRINTED BY im IJBMflM, OOVWMkBNf OF IW^JWtaft SONTO BOAD, NEW DKtHI At<n PUBLISHED BY THE SONTROLLBR f PUBLICATIONS, DEI-HI, 1993.