The provisions of this Chapter shall not apply to the State Bank or a banking company as defined in section 5 of the 1[Banking Regulation Act, 1949 (10 of 1949)] or 2[a corresponding new bank as defined in clause (da) of section 5 of that Act or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959)] or 3[a Regional Rural Bank or a co-operative bank] or a primary agricultural credit society or a primary credit society]:
Provided that for the purposes of this Chapter, the 4 [Tamil Nadu Industrial Investment Corporation Limited] shall not be deemed to be a banking company.
Footnotes in the official text
- 1.Subs. by Act 51 of 1974, s. 3, for “Banking Companies Act, 1949” (w.e.f. 13-12-1974).
- 2.Subs. by Act 1 of 1984, s. 8, for “a banking institution notified under section 51 of that Act” (w.e.f. 15-2-1984).
- 3.Subs. by Act 21 of 1976, s. 33, for “a co-operative bank” (w.e.f. 26-9-1975).
- 4.Subs. by Act 51 of 1974, s. 16, for “Madras Industrial Investment Corporation Limited” (w.e.f. 13-12-1974).