Banking Regulation Act : Notice of claims of other persons regarding articles not receivable. Indian

Banking Regulation Act,1949

Act No : 10

Section : Notice of claims of other persons regarding articles not receivable.

45ZD. Notice of claims of other persons regarding articles not receivable.- No notice of the claim of any person, other than the person or persons in whose name any article is held by a banking company in safe custody, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it: Provided that where any decree, order, certificate or other authority from a court of competent jurisdiction relating to such article is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.