PART VI
AMENDMENTS TO THE BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1980
Commencement of this Part.
149. The provisions of this Part shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Notes on Clauses:
Clauses 149 and 150 of the Bill seek to amend the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. It is proposed to amend section 9 of the Act to empower the Central Government to approve not more than five full time directors in corresponding new bank.
