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Banking Regulation Act, 1949

49. Special provisions for private banking companies

The exemptions whether express or implied, in favor of a private company in 260[sections 90, 165, 182, 204 and 255, clauses (a) and (b) of sub-section (1) of section 293 and sections 300,388A and 416 of the Companies Act, 1956 (1 of 1956)1, shall not operate in favor of a private company which is a banking company.



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