MINISTRY OF FINANCE

(Department of Financial Services)

NOTIFICATION

New Delhi, the 25th January, 2021

S.O. 366(E).In exercise of the powers conferred by section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), the Central Government, after consultation with the Reserve Bank, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970, namely:—

1. Short title and commencement.(1) This Scheme may be called the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021.

(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970, after paragraph 14, the following paragraph shall be inserted, namely:—

14A. Special provision.—Where a nationalised bank is required by law to do any act or thing and in order to do so the recommendations or determination of, or resolution of grievances of security holders by, or in respect of any appointment, approval or review by any Committee of the Board of the bank is required, and if the Board is satisfied that quorum for meeting of such Committee cannot be met on account of either existence of any vacancy in such Committee or recusal by member thereof, the Board may do that act or thing.”.

[F. No. 16/22/2019-BO.I(Pt)]
PANKAJ JAIN, Addl. Secy.

Note: The principal Scheme was published in the Gazette of India, Part II, Section 3, Sub-Section (ii) vide number S.O. 3793, dated 16th November, 1970 and was last amended vide number S.O. 1200(E), dated 23rd March, 2020.

********

MINISTRY OF FINANCE

(Department of Financial Services)

NOTIFICATION

New Delhi, the 25th January, 2021

S.O. 367(E).—In exercise of the powers conferred by section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government, after consultation with the Reserve Bank, hereby makes the following Scheme further to amend the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980, namely:‑

1. Short title and commencement.—(1) This Scheme may be called the Nationalised Banks (Management and Miscellaneous Provisions) Amendment Scheme, 2021.

(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1980, after paragraph 14, the following paragraph shall be inserted, namely:

“14A. Special provision.—Where a nationalised bank is required by law to do any act or thing and in order to do so the recommendations or determination of, or resolution of grievances of security holders by, or in respect of any appointment, approval or review by any Committee of the Board of the bank is required, and if the Board is satisfied that quorum for meeting of such Committee cannot be met on account of either existence of any vacancy in such Committee or recusal by member thereof, the Board may do that act or thing.”.

[F. No. 16/22/2019-BO.I(Part)]

PANKAJ JAIN, Addl. Secy.

Note: The principal Scheme was published in the Gazette of India, Extraordinary, Part- II, Section 3, Sub-Section (ii) vide number S.O. 875(E), dated 4th November, 1980, and was last amended vide number S.O. 1201(E), dated 23rd March, 2020.

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Whatsapp

taxguru on whatsapp GROUP LINK

Join us on Telegram

taxguru on telegram GROUP LINK

Review us on Google

More Under Finance

Leave a Comment

Your email address will not be published. Required fields are marked *

Search Posts by Date

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031