Banking Regulation Act : Protection of action taken under Act. Indian Bare Acts :

Banking Regulation Act,1949

Act No : 10

Section : Protection of action taken under Act.

54. Protection of action taken under Act.- (1) No suit or other legal proceeding shall lie against the Central Government, the Reserve Bank or any officer for anything which is in good faith done or intended to be done in pursuance of this Act. (2) Save as otherwise expressly provided by or under this Act, no suit or other legal proceeding shall lie against the Central Government, the Reserve Bank or any officer for any damage caused or likely to be caused by anything in good faith done or intended to be done in pursuance of this Act. ---------------------------------------------------------------------- 1. Ins. by Act 55 of 1963, s. 29 (w.e.f. 1-2-1964). 88Y