Section 3: Establishment of State Financial Corporations.

The State Financial Corporations Act, 1951Central Act · Act 63 of 1951

(1) The State Government may, by notification in the Official Gazette, establish a Financial Corporation for the State under such name as may be specified in the notification.

(2) The Financial Corporation shall be a body corporate by the name notified under sub-section (1), having perpetual succession and a common seal, with power, subject to the provisions of this Act, to [acquire, hold and dispose of] property and shall by the said name sue and be sued.

Where this provision sits

Act	The State Financial Corporations Act, 1951
Section	3
Marginal note	Establishment of State Financial Corporations.
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 56 of 1956. . Subs. by Act 56 of 1956, s. 3, for "acquire and to hold" (w.e.f. 1-10-1956).

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