Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 6 – The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act,1982

The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act,1982

Section 6. Vesting of the shares and undertakings of Sikkim Bank in the State Government

(1) Notwithstanding anything contained in sections 3, 4 and 5, the Central Government shall as soon as may be, after the commencement of this act, direct by notification that the shares of the Sikkim Bank which have vested in the Central Government under section 3 and the undertakings of the Sikkim Bank which have vested in the Central Government under section 4 shall, instead of continuing to vest in the Central Government, vest in the State Government of Sikkim, on the date of the notification.

(2) Where the shares and the undertakings of the Sikkim Bank vest in the State Government under sub-section (1), the State Government shall, on and from the date of such vesting be deemed to have become the owner in relation to such shares and undertakings and all the rights and liabilities of the Central Government in relation to such shares and undertakings shall, on and from the date of such vesting be deemed to have become the rights and liabilities, respectively, of the State Government.

Previous | Next

The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act,1982

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published.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


Not found ...? HOW TO WIN 498a, DV, DIVORCE; Search in Above link

All Law documents and Judgment copies
Landmark Judgments
Important SC/HC Judgements on 498A IPC
Rules and Regulations of India.
Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation