State Bank of India (Subsidiary Banks) Act,1959
Act No : 38
Section :
Returns to be furnished by a subsidiary bank.
43. Returns to be furnished by a subsidiary bank.- (1) A subsidiary bank shall furnish to the State Bank 1*[, the Reserve Bank and the Central Government] (a) 2*[within three months from the 31st day of December 3*[or the date notified under section 39, as the case may be,] as on which its books are closed and balanced], its balance-sheet, together with the profit and loss account and the auditor's report, and a report by the Board of Directors on the working 4*[and activities] of the subsidiary bank during the period covered by the accounts; and (b) any other information relating to the affairs and business of the subsidiary bank which the State Bank or the Reserve Bank may require: 4*[Provided that the Reserve Bank may, after consultation with the State Bank, extend the said period of three months by such further period, not exceeding three months, as it may think fit.] (2) The balance-sheet and the profit and loss account of a subsidiary bank shall be signed by the 3*[managing director] and a majority of the directors of the subsidiary bank. 4*[(3) The Central Government shall cause the auditor's report and the report by the Board of directors on the working and activitier of the subsidiary bank to be laid, as soon as may be after they are received, before each House of Parliament. 7* * * * *
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