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Section 7 – State Bank of India (Amendment) Act,2010

State Bank of India (Amendment) Act,2010

Section 7. Amendment of Section 11

In Section 11 of the principal Act, after the proviso, the following provisos shall be inserted, namely

“Provided further that the shareholder holding any preference share capital in the State Bank shall, in respect of such capital, have a right to vote only on resolutions placed before the State Bank which directly affect the rights attached to his preference shares:

Provided also that no preference shareholder, other than the Central Government, shall be entitled to exercise voting rights in respect of preference shares held by him in excess of ten per cent of total voting rights of all the shareholders holding preference share capital only.”

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State Bank of India (Amendment) Act,2010

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