Banking Companies (Acquisition and Transfer of Undertakings) Act : Dissolution Indian Bare Acts :

Banking Companies (Acquisition and Transfer of Undertakings) Act,1970

Act No : 5

Section : Dissolution

18. Dissolution. No provision of law relating to winding up of corporations shall apply to a corresponding new bank and no corresponding new bank shall ---------------------------------------------------------------------- 1 Ins. by Act 1 of 1984, s. 68 (w.e.f. 15-2-1984). 88 be placed in liquidation save by order of the Central Government and in such manner as it may direct.