The STATE BANK OF SIKKIM (ACQUISITION OF SHARES) AND MISCELLANEOUS PROVISIONS ACT, 1982

PRELIMINARY

Section 1 — Short title and commencement.

(1) This Act may be called the State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982.

(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

Browse all 21 sections
  1. 1.Short title and commencement.
  2. 2.Definitions.
  3. 3.Vesting in the Central Government of certain shares of Sikkim.
  4. 4.Vesting of undertaking of Sikkim Bank.
  5. 5.General effect of vesting.
  6. 6.Vesting of the shares and undertakings of Sikkim Bank in the State Government.
  7. 7.Power of State Government to direct vesting of the undertakings of Sikkim Bank the Sikkim Co-operative bank.
  8. 8.Payment of amounts.
  9. 9.Management, etc., of the undertakings of Sikkim Bank.
  10. 10.Date of delivery, possession of property acquired and documents relating thereto.
  11. 11.Transfer of service of existing officers and employees of the Sikkim Bank to the co-operative bank.
  12. 12.Act to have overriding effect.
  13. 13.Protection of action taken in good faith.
  14. 14.Penalties.
  15. 15.Offences by companies.
  16. 16.Delegation of powers.
  17. 17.Power of Central Government to make rules.
  18. 18.Power to remove difficulties.
  19. 19.References to Sikkim Bank in other laws.
  20. 20.Dissolution of Sikkim Bank.
  21. SCH-THE SCHEDULE.THE SCHEDULE