Notification S.O. 640(E), dated 27th April, 1985 [N12-2PA]
As at 6 September 2026. In force from 27 April 1985.
S.O. 640(E).—In exercise of the powers conferred by section 10 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts contractors whose the carrying on of a regulated activity does not exceed one thousand rupees in value in a financial year from the provisions of section 4 of the said Act, subject to the condition that every such person shall intimate the Controller in writing of the commencement of the carrying on of a regulated activity within ninety days of such commencement.
Made under
Recital: "In exercise of the powers conferred by section 10 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), the Central Government, being satisfied that it is necessary in the public interest so to do". Names section 10 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980) [S1R-DQ6]. Vires verified.
Acts on (1)
Exempts Section 4, Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 [S1R-DHA], 27 April 1985. "section 4 of the said Act".
Acted on by (0)
none
Not held (0)
none