Insertion of new section 45MBA.

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..... ejudice to any other provision of this Act or any other law for the time being in force, the Bank may, if it is satisfied, upon an inspection of the Books of a non-banking financial company that it is in the public interest or in the interest of financial stability so to do for enabling the continuance of the activities critical to the functioning of the financial system, frame schemes which may p .....

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..... ities of a non-banking financial company that are critical to the functioning of the financial system. (2) Without prejudice to the generality of the foregoing provisions, the scheme referred to in sub-section (1) may provide for (a) reduction of the pay and allowances of the chief executive officer, managing director, chairman or any officer in the senior management of the no .....

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