State Bank of India (Amendment) Act, 20071
| [Act 32 of 2007] | [3rd September, 2007] |
[Repealed by Act 19 of 2015*]
An Act further to amend the State Bank of India Act, 1955
Be it enacted by Parliament in the Fifty-eighth Year of the Republic of India as follows:-
1 Received the assent of the President on 3-9-2007 and published in the Gazette of India, Extra., Part II, Section 1, dated 7-9-2007, pp. 1-2, No. 39.
* Ed.: Act 32 of 2007 repealed by Act 19 of 2015, S. 2 & Sch. I. See also S. 4 of the Repealing and Amending Act, 2015:
"4. Savings.- The repeal by this Act of any enactment shall not affect any Act in which such enactment has been applied, incorporated or referred to;
and this Act shall not affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred, or any remedy or proceeding in respect thereof, or any release or discharge of or from any debt, penalty, obligation, liability, claim or demand, or any indemnity already granted, or the proof of any past act or thing;
nor shall this Act affect any principle or rule of law, or established jurisdiction, form or course of pleading, practice or procedure, or existing usage, custom, privilege, restriction, exemption, office or appointment, notwithstanding that the same respectively may have been in any manner affirmed, recognised or derived by, in or from any enactment hereby repealed;
nor shall the repeal by this Act of any enactment provide or restore any jurisdiction, office, custom, liability, right, title, privilege, restriction, exemption, usage, practice, procedure or other matter or thing not now existing or in force."
1. Short title and commencement.-(1) This Act may be called the State Bank of India (Amendment) Act, 2007.
(2) It shall be deemed to have come into force on the 29th day of June, 2007.
2. Amendment of Section 3.-In the State Bank of India Act, 1955 (23 of 1955) (hereinafter referred to as the principal Act), in Section 3, in sub-section (2), for the words "Reserve Bank", the words "Central Government" shall be substituted.
3. Amendment of Section 5.-In Section 5 of the principal Act, in sub-section (2), for the words "Reserve Bank", the words "Central Government" shall be substituted.
4. Amendment of Section 10.-In Section 10 of the principal Act, in sub-section (2), for the words "Reserve Bank", the words "Central Government" shall be substituted.
5. Amendment of Section 11.-In Section 11 of the principal Act, for the words "Reserve Bank", the words "Central Government" shall be substituted.
6. Amendment of Section 18.-In Section 18 of the principal Act, in sub-section (2), for the words "All directions given by the Central Government shall be given through the Reserve Bank", the words "All directions shall be given by the Central Government" shall be substituted.
7. Amendment of Section 19.-In Section 19 of the principal Act, in clause (c), for the words "Reserve Bank", the words "Central Government" shall be substituted.
8. Amendment of Section 24.-In Section 24 of the principal Act, in sub-section (4), for the words "Reserve Bank", the words "Central Government" shall be substituted.
9. Amendment of Section 36.-In Section 36 of the principal Act,-
(1) in sub-section (1),-
(a) in clause (a), for the words "Reserve Bank", the words "Central Government" shall be substituted;
(b) in clause (b),-
(i) the words "the Reserve Bank or" shall be omitted;
(ii) in the proviso,-
(A) for the words "Reserve Bank", occurring at both the places, the words "Central Government" shall be substituted;
(B) for the words "paid to that Bank", the words "paid to that Government" shall be substituted;
(2) in clause (a) and clause (aa) of sub-section (2) and in sub-section (3), for the words "Reserve Bank", wherever they occur, the words "Central Government" shall be substituted.
10. Repeal and saving.-(1) The State Bank of India (Amendment) Ordinance, 2007 (Ordinance 5 of 2007), is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the principal Act, as amended by this Act.