The BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1970

TRANSFER OF THE UNDERTAKINGSOF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS

Section 3B: Register of beneficial owners.

The register of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996), shall be deemed to be a register of shareholders for the purpose of this Act.

Explanation.—For the purposes of section 3, section 3A and this section, the expressions “beneficial owner”, “depository” and “registered owner” shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996).]