APPLICATION OF OTHER LAWS NOT BARRED.
(1) Save as otherwise provided in sub-section (2) or elsewhere in this Act, the provisions
of this Act shall be in addition to, and not in derogation of, any other law for the time
being in force.
(2) Notwithstanding anything contained in section 3 or elsewhere in this Act, so much of
the provisions of this Act, as relate to matters in respect of which specific
provisions exist in the -
(i) Reserve Bank of India Act, 1934 (2 of 1934), or the Banking Regulation Act, 1949 (10
of 1949), or
(ii) State Bank of India Act, 1955 (23 of 1955), or the State Bank of India (Subsidiary
Banks) Act, 1959 (38 of 1959), or
(iii) Insurance Act, 1938 (4 of 1938),
shall not apply to a banking company, the State Bank of India or a subsidiary bank, as
defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), or an
insurer, as the case may be.
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