STATE BANK OF INDIA (SUBSIDIARY BANKS) ACT, 1959

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S.1 Short Title

S.2 Definitions

S.3 Establishment Or New Banks

S.3(A) Change Or Name Of A Subsidiary Bank

S.4 New Banks To Be Bodies Corporate

S.5 Head Office And Branches Of New Banks

S.6 Authorised Capital of New Banks

S.7 Issued Capital Of New Banks

S.8 Reserve Fund Of The New Banks

S.9 Transfer Of Shares Of Existing Banks To State Bank

S.10 Transfer Of Undertaking Of Existing Banks To New Banks

S.11 Transfer Of Services Of Employees Of Existing Banks

S.12 Special Provision For Transfer Of Foreign Assets

S.13 Compensation To Shareholders Of Existing Banks Other Than The Bank Of Patiala

S.14 Compensation Payable by the State Bank in Respect of the Bank of Patiala, Bank and the Hyderabad Bank

S.15 Constitution Of The Tribunal

S.16 Tribunal To Have Powers Of A Civil Court

S.17 Procedure Of The Tribunal

S.18 Transferability Of Shares

S.18(a) Right of registered shareholder to nominate

S.19 Restriction on voting rights

S.20 Share To Be Approved Securities

S.21 Register Of Shareholders

S.21(a) Register Of Beneficial Owners

S.22 Trusts Not To Be Entered On The Register

S.23 Certain Officers To Vacate Office

S.24 Management

S.25 Composition Of The Board Of Directors

S.25(a) Fit and proper status of an elected director

S.25(b) Power of Reserve Bank to appoint additional directors

S.26 Term Of Office Of Directors

S.27 Disqualification For Directorship

S.28 Vacation Of Office Of Directors

S.29 Managing Director

S.30 Remuneration Of Directors

S.31 Removal From Office Of Director

S.32 Appointment Of Another Person For Discharging The Duties Of Managing Director During His Absence

S.33 Casual Vacancies Among Directors

S.34 Meetings Or The Board Of Directors

S.35 Executive Committee And Other Committees

S.35(A) Supersession of Board of Directors in certain cases

S.36 Subsidiary Bunk To Act As Agent Of The State Bank

S.36(a) Subsidiary Bank To Act As Agent Of The Reserve Bank

S.37 Other Business Which A Subsidiary Bank May Transact

S.38 Acquisition Of Business Of Other Banks

S.38(a) Arrangement With Subsidiary Banks On Appointment Of Directors To Prevail

S.39 Closing of annual accounts

S.40 Disposal Of Profits

S.40(A) Transfer of unpaid or unclaimed dividend to unpaid dividend account

S.41 Audit

S.42 Temporary Provision Regarding Existing Auditors

S.43 Returns To Be Furnished By A Subsidiary Bank

S.44 General Meetings

S.45 Power To Issue Direct In As Far Removing Difficulties

S.46 Observers for Existing Banks

S.47 Inspection

S.48 Cost of Development Programme

S.49 Special Provision Regarding Existing Officers And Employees

S.50 Staff of a Subsidiary Bank

S.50(A) Bonus

S.51 Establishment of Pension and Super annotation Funds By Subsidiary Banks

S.52 Obligation as to Fidelity and Secrecy

S.53 Indemnity of Directors

S.54 Defects in Appointment or Constitution Not to Invalidate Acts or Proceedings

S.55 Companies Act, 1956, And Banking Companies Act, 1949, Not to Apply to Certain Existing Banks

S.56 Continuance of Special Provisions Respecting Recovery of loans and advances made by the Bank of Patiala

S.57 Bar to Liquidation of a Subsidiary Bank

S.58 Dissolution of Existing Banks

S.59 Construction of References to Existing Banks

S.60 Exercise of Powers and Functions on Behalf of the Reserve Bank

S.61 Protection of Action Taken Under Act

S.62 Power of Central Government to Make Rules

S.63 Power of The State Bank to Make Regulations

S.64 Amendment Of Certain Enactments

S.65 Saving

Sch.1 SCHEDULE

Sch.2 SCHEDULE

Sch.3 SCHEDULE

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