The Gazette of India
EXTRAORDINARY
PART II—Section 2—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 223 ] NEW DELHI, WEDNESDAY, JUNE 20, 1973/JYAISTHA 30,1895
Separate paging is given to this Part in order that it may be filed
as a separate compilation.
MINISTRY OF FINANCE
(Department of Banking)
NOTIFICATION
New Delhi, the 19th June 1973
S.O. 345(E).—In exercise of the powers conferred by section 53 of the Banking Regulation Act, 1949 (10 of 1949), the Central Government, on the recommenda- tion of the Reserve Bank of India, hereby declares that during the period commencing on the 21st June, 1973 and ending with the 30th June, 1974,—•
(a) the provisions of sub-clauses (i) and (ii) of clause (c) of sub-section (1) of section 10 of the said Act shall not apply to United Bank of India - and Syndicate Bank in so far as the said provisions prohibit the said banks from being managed by persons who are directors of the Agricultural Finance Corporation Limited, a company registered under the Companies Act, 1956 (1 of 1956); and
(b) the provisions of sub-section (3) of section 19 of the said Act shall not apply to the said banks, in so far as the said provisions prohibit the said banks from holding shares in the said Agricultural Finance Corporation Limited.
i o52 THE GAZETTE OF INDIA EXTRAORDINARY [PART H—SEC. J(ii)]