Banking Companies (Acquisition and Transfer of Undertakings) Act,1980 |
Act No : 40 of 1980 |
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Contents of Act: |
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SECTION( CHAP ) PRELIMINARY | |
SECTION( 1. ) Short title and commencement. | |
SECTION( 2. ) Definitions. | |
SECTION( CHAP ) TRANSFER OF THE UNDERTAKINGS OF EXISTING BANKS AND CAPITALS OF THECORRESPONDING NEW BANKS | |
SECTION( 3. ) Establishment of corresponding new banks and business thereof. | |
SECTION( 4. ) Undertakings of existing banks to vest in corresponding new banks. | |
SECTION( 5. ) General effect of vesting. | |
SECTION( CHAP ) PAYMENT OF AMOUNT | |
SECTION( 6. ) Payment of amount. | |
SECTION( CHAP ) MANAGEMENT OF CORRESPONDING NEW BANKS |