1 [3A. Trust not to be entered on the register.--Notwithstanding anything contained in sub-section (2F) of section 3, no notice of any trust, express, implied or constructive, shall be entered on the register, or be receivable, by the corresponding new bank:]
2 [Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.]
2 [Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.]
Source footnotes
1. Ins. by Act 37 of 1994, s. 5 (w.e.f. 15-7-1994).2. Ins. by Act 8 of 1997, s. 17 (w.e.f. 15-1-1997).
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More sections of this act
Section 1 · Short title and commencementSection 2 · Definitions.Section 3 · Establishment of corresponding new banks and business thereof.Section 3B · Register of beneficial ownersSection 4 · Undertaking of existing banks to vest in corresponding new banksSection 5 · General effect of vesting.Section 6 · Payment of compensation.Section 7 · Head office and management.India Code, Government of India. Text fetched 15 Oct 2026. Source metadata reports last modification: 2025-10-16. Check the linked official text and subsequent notifications when applying a provision.