State Financial Corporations Act,1951

Act No : 63

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Section : Power to acquire rights.

5*["25A. Power to acquire rights. The Financial Corporation shall have the right to acquire, by transfer or assignment, the rights and interests of any such financial institution as may be notified by the Central Government (including any other rights incidental thereto) in relation to any loan or advance granted or any amount recoverable by such institution, either in whole or in part by the execution or issue of any instrument or by the transfer of any instrument by endorsement or in any other manner: Provided that such loan or advance or amount relates to any business which the Financial Corporation may transact under this Act."] ---------------------------------------------------------------------- 1. Ins. by Act 43 of 1985, s. 15. 2. Omitted by s. 16, ibid. 3. Subs. by Act 77 of 1972, s. 15, for "and (c)". 4. Subs. by Act 52 of 1975, s. 35, for "Reserve Bank" (w.e.f. 16-2- 1976). 5. Ins. by Act 43 of 1985, s. 16. 86A

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