The State Agricultural Credit Corporations Act, 1968
ACT NO. 60 OF 1968.[29th December, 1968.]
| S. No |
Contents |
| 1. |
Short title and Commencement |
| 2. |
Definitions |
| 3. |
Establishment of State Agricultural Credit Corporations |
| 4. |
Head Office and other Offices |
| 5. |
Share Capital and Share - Holders |
| 6. |
Restrictions on Transfer of Shares |
| 7. |
Management |
| 8. |
Corporation to be Guided by Directions of Central Government |
| 9. |
Constitution of Board |
| 10. |
Managing Director |
| 11. |
Term of Office of Directors other than Managing Director |
| 12. |
Disqualifications |
| 13. |
Vacation of Seats of Directors |
| 14. |
Executive Committee and other Committees of the Corporation |
| 15. |
Meetings of Board and Committees |
| 16. |
Directors of Board or Members of a Committee not to Vote in Certain Cases |
| 17. |
Defects in Appointments not to Invalidate Acts, etc |
| 18. |
Fees and Allowances of Directors and Members of Committees |
| 19. |
Business which the Corporation may Transact |
| 20. |
Borrowing by the Corporation |
| 21. |
Deposits with the Corporation |
| 22. |
Limits on Borrowings and Deposits |
| 23. |
Corporation to maintain two Funds |
| 24. |
Stabilization Fund |
| 25. |
Reserve Fund |
| 26. |
Payment of Dividend |
| 27. |
Investment of Surplus Funds |
| 28. |
Recovery of Moneys due to the Corporation |
| 29. |
Acquisition or Transfer by the Corporation of Business |
| 30. |
General Meetings |
| 31. |
Accounts |
| 32. |
Audit |
| 33 |
Returns |
| 34. |
Certain provisions of the Banking Regulation Act, 1949, to apply to the Corporation |
| 35. |
Certain provisions of the Reserve Bank of India Act, 1934 |
| 36. |
Reserve Bank of India Act, 1934 and Banking Regulation Act, 1949 |
| 37. |
The Bankers Books Evidence Act, 1891 to Apply |
| 38. |
Corporation to be Deemed to be a Co - Operative Society |
| 39. |
Court, Tribunal, etc., not to Require Production of Report |
| 40. |
Declaration of Fidelity and Secrecy |
| 41. |
Indemnity of Director |
| 42. |
Protection of Action taken in Good Faith |
| 43. |
Liquidation of the Corporation |
| 44. |
Reserve Bank to Submit Report |
| 45. |
Staff of the Corporation and Delegation of Powers |
| 46. |
Powers of the Central Government to make Rules |
| 47. |
Power of the Board to make Regulations |
| 48. |
Amendment of Act 10 of 1963 |
An Act to provide for the establishment in the States and Union territories of Agricultural Credit Corporation and for matters connected therewith or incidental thereto.
BE it enacted by parliament in the Nineteenth Year of the Republic of India as follows:-
