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Section 11 – State Bank of India (Subsidiary Banks Laws) Amendment Act,2007

State Bank of India (Subsidiary Banks Laws) Amendment Act,2007

Section 11. Amendment of Section 21

Section 21 of the State Bank of India (Subsidiary Banks) Act shall be numbered as sub-section (1) thereof and after sub-section (1) as so numbered, the following sub-sections shall be inserted, namely:-

“(2) Notwithstanding anything contained in sub-section (1), it shall be lawful for a subsidiary bank to keep the register of shareholders in computer floppies or diskettes or any other electronic form subject to such safeguards as may be prescribed.

(3) Notwithstanding anything contained in the Indian Evidence Act,1872 (1 of 1872), a copy of, or extract from, the register of shareholders, certified to be a true copy under the hand of any officer of the subsidiary bank authorised in this behalf shall in all legal proceedings, be admissible in evidence.”

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State Bank of India (Subsidiary Banks Laws) Amendment Act,2007

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