State Bank of India Act : Restrictions on voting rights. Indian Bare Acts :

State Bank of India Act,1955

Act No : 23

Section : Restrictions on voting rights.

1*[11. Restrictions on voting rights.- No shareholder, other than the Reserve Bank, shall be entitled to exercise voting rights in respect of any shares held by him in excess of ten per cent. of the issued capital: Provided that such shareholder shall be entitled to exercise voting rights at such higher percentage as the Central Government may, after consultation with the Reserve Bank, specify."] ---------------------------------------------------------------------- 1. Subs. by Act 3 of 1994, s. 3, for s.11 (w.e.f. 15-10-1993). 111