Section 5, State Bank of India Act, 1955 [S1C-XMV]

As at 7 September 2026. In force from 13 October 1955 by S.O. 3526(E) [N11-KS2].

In State Bank of India Act, 1955 [A10-EGF]. This text from 13 October 1955. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 5, State Bank of India Act, 1955 [S1C-XMV]. Machine: S1C-XMV.

5. Prohibition of the enforcement of security interest without licence.—No person shall undertake the enforcement of security interest except under and in accordance with the conditions of a licence granted under section 6: Provided that nothing in this section shall apply to the enforcement of security interest undertaken by or on behalf of the Central Government or a State Government.

Defined terms in this text (1)

security interest: Section 2, State Bank of India Act, 1955 [S1CXHH] (In this Act, unless the context otherwise requires,—): "security interest" means right, title or interest of any kind upon property created in favour of a secured creditor

security interest: 17 more definitions.

Made under this section, or naming it (0)

none

Cited by (1)

Section 20, State Bank of India Act, 1955 [S1C-Y3W], 15 June 1955, Band A. "section 5".

Not held (0)

none

Duties published under this section (0)

none