The Small Industries Development Bank of India Act, 1989

69 sections.

Section 1 — Short title, extent and commencement.
Section 2 — Definitions.
Section 3 — Establishment and incorporation of Small Industries Development Bank of India.
Section 4 — Authorised capital.
Section 4A — Conversion of equity shares into redeemable preference shares.
Section 4B — Transfer of capital.
Section 4C — Issued capital.
Section 4D — Reduction of share capital.
Section 4E — Restriction on exercising of voting right.
Section 5 — Management.
Section 6 — Constitution of Board.
Section 7 — [Omitted.].
Section 8 — Disqualification of directors.
Section 9 — Vacation and resignation of office by directors.
Section 10 — [Omitted.].
Section 11 — [Omitted.].
Section 12 — Executive Committee and other committees.
Section 12A — Fees and allowances of directors and members of committees.
Section 13 — Business of Small Industries Bank.
Section 14 — Loans by Central Government.
Section 15 — Borrowings and acceptance of deposits by the Small Industries Bank.
Section 16 — Investment.
Section 17 — Power to transfer rights.
Section 18 — Power to acquire rights.
Section 19 — Loan in foreign currency.
Section 20 — Grants, donations, etc., to the Small Industries Bank.
Section 20A — Free transferability of shares.
Section 20B — Register of shareholders.
Section 20C — Trust not to be entered on the register of shareholders.
Section 20D — Board's right to refuse registration of transfer of shares.
Section 20E — Shares to be securities under the Indian Trusts Act, 1882.
Section 20F — Annual general meeting.
Section 20G — Matters to be discussed and procedure in annual general meeting.
Section 21 — Small Industries Development Assistance Fund.
Section 22 — Credits to Small Industries Development Assistance Fund.
Section 23 — Utilisation of Small Industries Development Assistance Fund.
Section 24 — Debits to Small Industries Development Assistance Fund.
Section 25 — Accounts and audit of Small Industries Development Assistance Fund.
Section 26 — Liquidation of Small Industries Development Assistance Fund.
Section 27 — Small Industries General Fund.
Section 28 — Preparation of accounts and balance-sheet.
Section 29 — Disposal of profits accruing to Small Industries General Fund.
Section 30 — Audit.
Section 31 — Saving.
Section 32 — Transfer of part of business of Development Bank.
Section 33 — Staff of Small Industries Bank.
Section 34 — Delegation of powers.
Section 35 — Returns.
Section 36 — Obligations as to fidelity and secrecy.
Section 37 — Defects in appointment not to invalidate acts, etc.
Section 37A — Amounts and securities to be held in trust.
Section 38 — Rights of Small Industries Bank in case of default.
Section 39 — Power to seek assistance of Chief Metropolitan Magistrate or District Magistrate.
Section 40 — Power to call for repayment before agreed period.
Section 41 — Special provisions for enforcement of claims by Small Industries Bank.
Section 42 — Small Industries Bank to have access to records.
Section 43 — Validity of loan or advance not to be questioned.
Section 44 — Indemnity of Directors.
Section 45 — Protection of action taken under this Act.
Section 46 — Nomination by depositors or holders of bonds or other securities.
Section 47 — Arrangement with Small Industries Bank on appointment of directors to prevail.
Section 48 — Act 18 of 1891 to apply in relation to Small Industries Bank.
Section 49 — Act 10 of 1949 not to apply to Small Industries Bank.
Section 50 — [Omitted.].
Section 51 — Liquidation of Small Industries Bank.
Section 51A — Power to make rules by Central Government.
Section 52 — Power to make regulations.
Section 53 — [Repealed].
Section 54 — Power to remove difficulties.

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