Small Industries Development Bank of India Act : FREE TRANSFERABILITY OF SHARES Indian Bare Acts :

Small Industries Development Bank of India Act,1989

Act No : 39

Section : FREE TRANSFERABILITY OF SHARES

SECTION 20A: FREE TRANSFERABILITY OF SHARES

(i) Save as otherwise provided in sub-sec. (2), the equity shares of the Small Industries Bank shall be freely transferable.

(2) Nothing contained in sub-sec. (1) shall entitle the Development Bank, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government to transfer any shares held by them in the Small Industries Bank if such transfer will result in reducing the equity shares held in aggregate by them to less than fifty-one per cent. of the issued equity share capital of the Small Industries Bank.