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Section 38 A – The Banking Regulation Act,1949

The Banking Regulation Act,1949

Section 38A. Court liquidator

1[Court liquidator. (1) There shall be attached to every High Court a Court liquidator to be appointed by the Central Government for the purpose of conducting all proceedings for the winding up of banking companies and performing such other duties in reference thereto as the High Court may impose.

2[***]

(4) Where having regard to the number of banking companies wound up and other circumstances of the case, the Central Government is of opinion that it is not necessary or expedient to attach for the time being a Court liquidator to a High Court, it may, from time to time, by notification in the Official Gazette, direct that this section shall not have effect in relation to that High Court.]

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1. Inserted by Act 52 of 1953, Section 6.

2. Sub-sections (2) and (3) omitted by Act 95 of 1956, Section 14 and Schedule w.e.f. 14-1-1957.

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The Banking Regulation Act,1949

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