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12.Registration of defunct banking companies.

Every banking company being a defunct banking company at the commencement of this Act, by reason of sub-clause (vii) or sub-clause (viii) of clause (f)

1. Ins. by Act 1 of 1984, s. 58 (w.e.f. 15-2-1984).

2. Ins. by Act 56 of 1968, s. 6 (w.e.f. 1-7-1971).

3. Subs. by s. 2, ibid., for "the Banking Companies Act, 1949" (w.e.f. 1-7-1971).

4. The words and figures ", or, as the case may be, after it is notified under section 51 of the said Act" omitted by Act 1 of 1984, s. 59 (w.e.f. 15-2-1984).

5. Ins. by Act 21 of 1976, s. 33 (w.e.f. 26-9-1975).

of section 2 shall, unless it becomes a defunct banking company under any other sub-clause of that clause, be registered by the Corporation as an insured bank as soon as may be after the termination of the order moratorium or, as the case may be, the rejection of the application for its winding up.



Deposit Insurance and Credit Guarantee Corporation Act, 1961 Back




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