Act 37 of 1960 : The Banking Companies (Second Amendment) Act, 1960

The Banking Companies (Second Amendment) Act, 1960

ACTNO. 37 OF 1960

19 September, 1960

Section 1: Short title.

This Act may be called the Banking Companies (Second Amendment) Act, 1960.

Section 2: Amendment of section 39.

[Amendment of section 39.] Rep. by the Repealing and Amending Act (52 of 1964), s. 2 and the First Schedule(w.e.f. 29-12-1964).

Section 3: Substitution of new sections for section 41.

[Substitution of new sections for section 41.] Rep. by s. 2 and the First Schedule, ibid.(w.e.f. 29-12-1964).

Section 4: Substitution of new section for section 43A.

[Substitution of new section for section 43A.] Rep. by s. 2 and the First Schedule, ibid.(w.e.f. 29-12-1964).

Section 5: Amendment of section 44A.

[Amendment of section 44A.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 29-12-1964).

Section 6: Insertion of new section 45.

[Insertion of new section 45.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 29-12-1964).

Section 7: Amendment of section 45L.

[Amendment of section 45L.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 29-12-1964).

Section 8: Amendment of section 50.

[Amendment of section 50.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 29-12-1964).

Section 9: Amendment of section 51.

[Amendment of section 51.] Rep. by s. 2 and the First Schedule, ibid. (w.e.f. 29-12-1964).

Section 10: Certain winding-up proceedings to be governed by original provisions.

The amendmentsmade in the principal Act by section 3 and section 4 shall not apply to, and in relation to, the winding-upof a banking company where any preliminary dividend has been paid in the course of such winding-upbefore the commencement of this Act, but the provisions of the principal Act as they stood immediatelybefore such commencement shall apply to, and in relation to, such winding-up.