STATE FINANCIAL CORPORATIONS ACT, 1951


Section
Section Title
  STATEMENT OF OBJECTS AND REASONS
  1 SHORT TITLE, EXTENT AND COMMENCEMENT View Judgements
  2 DEFINITIONS View Judgements
  3 ESTABLISHMENT OF STATE FINANCIAL CORPORATIONS View Judgements
  3A ESTABLISHMENT OF JOINT FINANCIAL CORPORATIONS View Judgements
  4 SHARE CAPITAL AND SHAREHOLDERS View Judgements
  4A SPECIAL CLASS OF SHARES View Judgements
  4B TRANSFER OF SHARE CAPITAL TO DEVELOPMENT BANK View Judgements
  4C PAYMENT OF AMOUNT View Judgements
  4D ISSUE OF REDEEMABLE PREFERENCE SHARES View Judgements
  4E REDUCTION OF SHARE CAPITAL View Judgements
  4F RESTRICTION ON EXERCISING OF VOTING RIGHT View Judgements
  4G PROXY VOTING View Judgements
  4H TRANSFER OF SHARE CAPITAL TO SMALL INDUSTRIES BANK View Judgements
  5 TRANSFER OF SHARES View Judgements
  6 CONVERSION OF SHARES GUARANTEED BY STATE GOVERNMENT View Judgements
  7 ADDITIONAL CAPITAL OF FINANCIAL CORPORATION AND BORROWING POWERS View Judgements
  8 DEPOSITS WITH FINANCIAL CORPORATION View Judgements
  9 MANAGEMENT View Judgements
  10 BOARD OF DIRECTORS View Judgements
  10A VACATION OF OFFICE BY AN ELECTED DIRECTOR View Judgements
  11 TERM OF OFFICE AND RETIREMENT OF DIRECTORS View Judgements
  12 DISQUALIFICATIONS FOR BEING A DIRECTOR View Judgements
  13 REMOVAL OF DIRECTOR FROM OFFICE View Judgements
  14 RESIGNATION OF OFFICE BY DIRECTOR AND FILLING UP OF CASUAL VACANCIES View Judgements
  15 CHAIRMAN OF BOARD View Judgements
  16 REMUNERATION OF DIRECTORS View Judgements
  17 MANAGING DIRECTOR View Judgements
  18 EXECUTIVE COMMITTEE View Judgements
  19 MEETINGS OF THE BOARD AND COMMITTEE View Judgements
  20 POWERS OF EXECUTIVE COMMITTEE View Judgements
  21 ADVISORY COMMITTEE View Judgements
  22 OFFICES AND AGENCIES View Judgements
  23 OFFICERS AND OTHER EMPLOYEES OF THE CORPORATION View Judgements
  24 GENERAL DUTY OF THE BOARD View Judgements
  25 BUSINESS WHICH FINANCIAL CORPORATION MAY TRANSIT View Judgements
  25A POWER TO ACQUIRE RIGHTS View Judgements
  25B GIFTS, GRANTS, ETC. View Judgements
  26 LIMIT OF ACCOMMODATION View Judgements
  27 POWER TO IMPOSE CONDITIONS FOR ACCOMMODATION View Judgements
  28 PROHIBITED BUSINESS View Judgements
  29 RIGHT OF FINANCIAL CORPORATION INCASE OF DEFAULT View Judgements
  30 POWER TO CALL FOR REPAYMENT BEFORE AGREED PERIOD View Judgements
  31 SPECIAL PROVISIONS FOR ENFORCEMENT OF CLAIMS BY FINANCIAL CORPORATION View Judgements
  32 PROCEDURE OF DISTRICT JUDGE IN RESPECT OF APPLICATIONS UNDER SECTION 31 View Judgements
  32A POWER OF FINANCIAL CORPORATION TO APPOINT DIRECTORS OR ADMINIST-- RATORS OF AN INDUSTRIAL CONCERN WHEN MANAGEMENT IS TAKEN OVER View Judgements
  32B EFFECT OF NOTIFIED ORDER UNDER SECTION 32A View Judgements
  32C POWERS AND DUTIES OF DIRECTORS AND ADMINISTRATORS View Judgements
  32D NO RIGHT TO COMPENSATION FOR TERMINATION OF CONTRACT OF MANAGING AGENT, MANAGING DIRECTOR, ETC View Judgements
  32E APPLICATION OF ACT 1 OF 1956 View Judgements
  32F RESTRICTION ON FILING OF SUITS FOR DISSOLUTION, ETC., OF AN INDUSTRIAL CONCERN NOT BEING A COMPANY WHEN ITS MANAGEMENT IS TAKEN OVER View Judgements
  32G RECOVERY OF AMOUNTS DUE TO THE FINANCIAL CORPORATION AS ARREAS OF LAND REVENUE View Judgements
  33 FUNDS OF THE FINANCIAL CORPORATION View Judgements
  34 INVESTMENT OF FUNDS View Judgements
  35 DISPOSAL OF PROFITS View Judgements
  35A SPECIAL RESERVE FUND View Judgements
  36 GENERAL MEETINGS View Judgements
  37 AUDIT View Judgements
  37A INSPECTION View Judgements
  38 RETURNS View Judgements
  39 POWER TO GIVE INSTRUCTIONS TO FINANCIAL CORPORATION ON QUESTION OF POLICY View Judgements
  40 DECLARATION OF FIDELITY AND SECRECY View Judgements
  41 INDEMNITY OF DIRECTORS View Judgements
  41A PROTECTION OF ACTION TAKEN BY PERSONS APPOINTED UNDER SECTION 27 OR SECTION 32A View Judgements
  41B NOMINATION IN RESPECT OF DEPOSITS, BONDS, ETC View Judgements
  42 OFFENCES View Judgements
  43 PROVISIONS RELATING TO INCOME-TAX AND SUPER-TAX View Judgements
  43A A DELEGATION OF POWERS View Judgements
  43B REPORTS TO THE BOARD View Judgements
  44 ACT XVIII OF 1891 TO APPLY TO THE BOOKS OF THE FINANCIAL CORPORA CORPORATION View Judgements
  45 LIQUIDATION OF FINANCIAL