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CHAPTER IV GENERAL PROVISIONS

Section 58A: Protection of action taken in good faith

The Reserve Bank of India Act, 1934

1[(1) No suit, prosecution or other legal proceeding shall lie against the Central Government or the Bank or any other person in respect of anything which is in good faith done or intended to be done under this Act or in pursuance of any order, regulation or direction made or given thereunder.

(2) No suit or other legal proceeding shall lie against the Central Government or the Bank for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act or in pursuance of any order, regulation or direction made or given thereunder.]

Footnotes in the official text

  1. 1.Ins. by s. 25, ibid. (w.e.f. 13-12-1974).

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