The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982
Central Act · Act 62 of 198220 provisions
The enactment
| Long title | An Act to provide, in the public interest, for the acquisition of certain shares of the State Bank of Sikkim for the purpose of better consolidation and extension of banking facilities in the State of Sikkim and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 62 of 1982 |
| Year | 1982 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 20 |
| Subjects | financial, property |
Full text, provision by provision
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- Section 1 Short title and commencement.
- Section 2 Definitions.
- Section 3 Vesting in the Central Government of certain shares of Sikkim.
- Section 4 Vesting of undertaking of Sikkim Bank.
- Section 5 General effect of vesting.
- Section 6 Vesting of the shares and undertakings of Sikkim Bank in the State Government.
- Section 7 Power of State Government to direct vesting of the undertakings of Sikkim Bank the Sikkim Co-operative bank.
- Section 8 Payment of amounts.
- Section 9 Management, etc., of the undertakings of Sikkim Bank.
- Section 10 Date of delivery, possession of property acquired and documents relating thereto.
- Section 11 Transfer of service of existing officers and employees of the Sikkim Bank to the co-operative bank.
- Section 12 Act to have overriding effect.
- Section 13 Protection of action taken in good faith.
- Section 14 Penalties.
- Section 15 Offences by companies.
- Section 16 Delegation of powers.
- Section 17 Power of Central Government to make rules.
- Section 18 Power to remove difficulties.
- Section 19 References to Sikkim Bank in other laws.
- Section 20 Dissolution of Sikkim Bank.
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