"15; No notice ofc*any t®0, express, implied or constructive, shall be entered on the register of shareholders or be receivable by the State Bank.".
a of 1872.
SBC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 3
8. In section 19 of the principal Act,—
(i) in the opening portion, the brackets and figure "(1)" shall be omitted;
(ii) in clause (c), for the words "principal register", the words "register of shareholders" shall be substituted.
9. In section 20 of the principal Act,—
(a) in sub-section (3), the words, brackets and figure "of subsection (I)" shall be omitted;
(b) in sub-section (3A)t for the words, brackets, figures and letter "of sub-section (1) of section 19 or nominated under clause
(d) of that sub-section", the words, brackets, figures and letter "of section 19 or nominated under clause (d) of that section" shall be substituted;
(c) in sub-seciion (4),. for the words, brackets, letters and figures "of sub-section (1) of section 19 or nominated under clause
(d) or clause (e) or clause (f) of that sub-section'^ the words, brackets, letters and figures "of section 19 or nominated under clause (d) or clause (e) or clause (/) of that section" shall be substituted.
10. In section 21 of the principal Act,—
(a) in sub-section (1),—
(i) fox̂ clause (b), the following clause shall be substituted, namely: — " (b) all such directors elected or nominated to the Central Board under clause (c) or clause (d) of section 19 as are ordinarily resident in the area falling within the jurisdiction of the local head office;";
(<i) clause (d) shall be omitted;
(b) for &'Lib-section (2), the following sub-section shall be substituted, namely: — "(2) Where as a result of the establishment of any local head office (hereinafter referred to as the new local head office) for any area which is already falling within the jurisdiction of another local head office (hereinafter referred to as the existing local head1 office) a Local Board (hereinafter referred to as the new Local Board) is constituted for the new local head office, any person who is, at the time of such constitution, holding office as a member of a Local Board (hereinafter referred to as the existing Local Board) for an existing local head office under clause («) of s'ub-section (7) and is ordinarily resident in the area falling within the jurisdiction of the new local head office, shall cease to hold office as member of the existing Local Board and shall become a member of the new Local Board and shall on becoming such member be deemed to have been nominated to the new Local Board and shall hold office as such member for the "unexpired portion of his term of office as a member of the existing Local Board."; ;
Amendment oE section
19.
Amendment of section
20.
Amendment of section 21, 4 THE GAZETTE OF INDIA EXTRAORDINARY [PART II— Amendment of section 2a A.
Amendment of section
21B.
Amendment of section
22.
Amendment of section
24.
Amendment of section
25.
(c) sub-section (4,) shall be ommitlted;
(d) for sub-section (5) t the following sub-section shall be substituted, namely: — "(5) The Governor of the Reserve Bank, shall, in consultation with the chairman, appoint—
(a) a member of a JJO^A Board nominated under clause (e) of sub-section (1) to fee the president thereof, and
(b) a member of u Local Board Molding office under clause (b) or nominated under clause (c) of that sub-section to be the vice-president thereof.".
11. In section 21A of the principal Act, sub-section (2) shall be omitted.
12. In section 21B of the principal Act, for the words "served by the branch register", the words "falling within the jurisdiction" shall be substituted. „.,„
18. In section 22 of the principal Act,—
(a) in sub-section (1),—
(i). in clause (da), in the opening portion, the words, brae feets and figure "of sub-secthm^f)" shalt be omitted;
/ (*i) for clause (h), the following clause shall be substituted namely:— "(h) in the case of an elected director, he is not registered as a holder in his own right pf unencumbered shares in the State Bank of a nominal value of at least five thousand rupees:
Provided that in the case of a director appointed under clause, (ca,) or clause (eb) of secton 19, the disqualification mentioned in clause (<*) shall not operate.";
(b). in sub-section (4), in clause (a), for the words and figures . -"Banking Consumes Act,, 1M»", the words and figures "Banking Regulation Act, 1949" shall be substituted.
14. In section 24 of the principal Aet,~-
(a) in sub-section (3), the words, brackets and figure "of subsection (1)" shall be omitted;
(b) in subjection (4), the words, brackets and figure "of subsection (I.)" shall be omitted; ..
. (c).sub-«ection.(5) shall be dmitfed.