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The Small Industries Development Bank of India Act, 1989

Contents

 

Sections

Particulars

 

Preamble

1

Short title, extent and commencement

2

Definitions

3

Establishment and incorporation of Small Industries Development Bank of India

4

Authorised capital

5

Management

6

Constitution of Board

7

Managing Director

8

Disqualifications

9

Vacation and resignation of office by Directors

10

Casual vacancies in office of Managing Director

11

Meetings of the Board

12

Committees

13

Business of Small Industries Bank

14

Loans by Central Government

15

Borrowings and acceptance of deposits by the Small Industries Bank

16

Investment

17

Power to transfer rights

18

Power to acquire rights

19

Loans in foreign currency

20

Grants, donations, etc., to the small Industries Bank

21

Small Industries Development Assistance Fund

22

Credits to Small Industries Development Assistance Fund

23

Utilisation of Small Industries Development Assistance Fund

24

Debits to Small Industries Development Assistance Fund

25

Accounts and audit of Small Industries Development Assistance Fund

26

Liquidation of Small Industries Development Assistance Fund

27

Small Industries General Fund

28

Preparation of accounts and balance sheet

29

Disposal of profits accruing to Small Industries General fund

30

Audit

31

Saving

32

Transfer of part of business of Development Bank

33

Staff of Small Industries Bank

34

Delegation of powers

35

Returns

36

Obligations as to fidelity and secrecy

37

Defects in appointment not to invalidate acts etc

38

Rights of Small Industries Bank in case of default

39

Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate

40

Power to call for repayment before agreed period

41

Special provisions for enforcement of claims by Small Industries Bank

42

Small Industries Bank to have access to records

43

Validity of loan or advance not to be questioned

44

Indemnity of Directors

45

Protection of action taken under this Act

46

Nomination by depositors or holders of bonds or other securities

47

Arrangement with Small Industries Bank on appointment of directors to prevail

48

Act 18 of 1801 to apply in relation to Small Industries Bank

49

Act 10 of 1949 not to apply to Small Industries Bank

50

Act 43 of 1961 not to apply to Small Industries Bank

51

Liquidation of Small Industries Bank

52

Power to make regulations

53

Amendment of certain enactments

54

Power to remove difficulties

The Schedule

Schedule

 

The First Schedule

 

The Second Schedule



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