State Bank of India (Subsidiary Banks) Act : Shares to be approved securities. Indian Bare Acts :

State Bank of India (Subsidiary Banks) Act,1959

Act No : 38

Section : Shares to be approved securities.

20. Shares to be approved securities.- Notwithstanding anything contained in the Acts hereinafter mentioned in this section, the shares of a subsidiary bank shall be deemed to be included among the securities enumerated in section 20 of the Indian Trusts Act, 1882 (2 of 1882), and also to be approved securities for the purposes of the Insurance Act, 1938 (4 of 1938), and the Banking Companies Act, 1949 (10 of 1949),