Section 11, Rent Recovery Act, 1853 [S11-J2C]
As at 19 July 1853. In force from 19 July 1853.
11. Registration of bankings company.—(1) Every banking company shall, within thirty days from the commencement of this Act or, where such person begins the business of banking after such commencement, within thirty days from the date of such beginning, make an application for registration to the Reserve Bank in Form C, accompanied by a fee of ten thousand rupees. (2) The Reserve Bank shall, on being satisfied that the application is in order, register the applicant and issue a certificate of registration in such form as may be prescribed. (3) No banking company shall carry on the business of banking unless registered under this section.
Defined terms in this text (2)
banking: Section 2, Rent Recovery Act, 1853 [S11HSK] (In this Act, unless the context otherwise requires,—): "banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise
banking: 27 more definitions.
Reserve Bank: Section 2, Rent Recovery Act, 1853 [S11HSK] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)
Reserve Bank: 24 more definitions.
Made under this section, or naming it (0)
none
Cited by (1)
Section 2, Rent Recovery Act (Amendment) Act, 1858 [S11-XHP], 7 September 1858, Band A. "section 11 of the Rent Recovery Act, 1853 (6 of 1853)".
Not held (0)
none
Duties published under this section (0)
none