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Section 5 – The State Financial Corporation Act,1951

<h2The State Financial Corporation Act,1951

Section 5. Restrictions on transfer of shares

(1) The shares of the Financial corporation shall not be transferable except to the State Government the Reserve Bank or any other financial institution recognised in this behalf by the State Government.

Provided that the shares subscribed for by the parties referred to in clause (d) of sub-section (3) of section 4 shall be freely transferable.

(2) Nothing contained in this section shall affect the provisions of sub-section (5) of section 4.

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The State Financial Corporation Act,1951

Indian Laws – Bare Acts


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