Annexure – The Banking Regulation (Amendment) and Miscellaneous Provisions Act,2004

The Banking Regulation (Amendment) and Miscellaneous Provisions Act,2004

Annexure

EXTRACT FROM THE BANKING REGULATION ACT,1949

(10 OF 1949)

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PART V

APPLICATION OF THE ACT TO CO-OPERATIVE BANKS

56. Act to Apply to Co-operative Societies Subject to Modifications:

The provisions of this Act, as in force for the time being, shall apply to, or in relation to, co-operative societies as they apply to, or in relation to, banking companies subject to the following modifications, namely:–

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(c) in section 5,–

(i) after clause (cc), the following clauses shall be inserted, namely:–

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(ccvii) “central co-operative bank”, “co-operative society”, “primary rural credit society” and “state co-operative Bank” shall have the meanings respectively assigned to them in the National Bank for Agriculture and Rural Development Act,1981(61 of 1981);

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(zaa) in section 36AD, sub-section (3) shall be omitted.

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(zb) Part IIA, Part IIC, Part III, except sub-sections (1), (2) and (3) of section 45, and Part IIIA except section 45W, shall be omitted;

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EXTRACT FROM THE DEPOSIT INSURANCE AND CREDIT GUARANTEE CORPORATION ACT,1961

(47 OF 1961)

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2. Definitions:

In this Act, unless the context otherwise requires,–

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(q) the expressions “central co-operative bank”, “co-operative society” and “State co-operative bank” shall have the meanings respectively assigned to them in the National Bank for Agriculture and Rural Development Act,1981(61 of 1981);

(r) the expressions “primary co-operative bank” and “primary credit society” shall have the meanings respectively assigned to them in Part V of the Banking Regulation Act,1949(10 of 1949);

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