law: Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970  
  20.Amendment 
  
  of certain enactments.- 
  
  (1) In the 
  
  Banking Regulation Act, 1949 (10 of 1949),
  (a) in section 
  
  34A, in sub-section (3), for the words "and any subsidiary bank", the words, 
  
  figures and brackets "a corresponding new bank constituted under section 3 of 
  
  the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and 
  
  any subsidiary bank" shall be substituted;
  (b) in section 
  
  36AD, in sub-section (3), for the words "and any subsidiary bank", the words, 
  
  figures and brackets "a corresponding new bank constituted under section 3 of 
  
  the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and 
  
  any subsidiary bank" shall be substituted;
  (c) in section 
  
  51, for the words "or any other banking institution notified by the Central 
  
  Government in this behalf", the words, figures and brackets "or any 
  
  corresponding new bank constituted under section 3 of the Banking Companies 
  
  (Acquisition and Transfer of Undertakings) Act, 1970, or any other banking 
  
  institution notified by the Central Government in this behalf" shall be 
  
  substituted;
  (d) in the 
  
  Fifth Schedule, in Part I of paragraph 1, in clause (e), the Explanations shall 
  
  be deemed never to have been inserted.
  (2) In the 
  
  Industrial Disputes Act, 1947 (14 of 1947), in section 2, in clause (bb), for 
  
  the words "and any subsidiary bank", the words, figures and brackets "a 
  
  corresponding new bank constituted under section 3 of the Banking Companies 
  
  (Acquisition and Transfer of Undertakings) Act, 1970, and any subsidiary bank" 
  
  shall be substituted.
  (3) In any 
  
  Banking Companies (Legal Practitioners' Clients' Accounts) Act, 1949 (46 of 
  
  1949), in section 2, in clause (a), for the words "and any subsidiary Bank", the 
  
  words, figures and brackets "a corresponding new bank constituted under section 
  
  3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, 
  
  and any subsidiary bank" shall be substituted.
  (4) In the 
  
  Deposit Insurance Corporation Act, 1961 (47 of 1961),------
  (a) in section 
  
  2,----------
  (i)after 
  
  clauses (c), the following clauses shall be inserted namely:-
  '(ee) 
  
  "Corresponding new bank" means a corresponding new bank constituted under 
  
  section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) 
  
  Act, 1970;
  (ii) in clause 
  
  (g),
  (a) for the 
  
  words "or a banking company", the words "a corresponding new bank or a banking 
  
  company", and
  (b) for the 
  
  words "with a banking company", the words "with a corresponding new bank or with 
  
  a banking company",shall be substituted;
  (iii) in 
  
  clause (i), after the words "banking company", the words "or a corresponding new 
  
  bank" shall be inserted;(b) section 13 shall be re-numbered as sub-section (1) 
  
  therefore and after sub-section (1) as so re-numbered, the following sub-section 
  
  shall be inserted, namely:-
  "(2) The 
  
  provisions of clauses (a), (b), (c), (d) and (h) (5) of sub-section (1) shall 
  
  apply to a corresponding new bank as they apply to a corresponding new bank as 
  
  they apply to a banking company." 
  (5) In the 
  
  State Agricultural Credit Corporation Act, 1968 (60 of 1968),--------
  (a) in section 
  
  2, after clause (i), the following clause shall be inserted, namely :-'(ii) 
  
  "corresponding new bank" means a corresponding new bank constituted under 
  
  section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) 
  
  Act, 1970;';
  (b) after the 
  
  words "subsidiary banks" or "subsidiary bank", as the case may be, occurring in 
  
  clause (d) of sub-section (3) of section 5, in clause (b) of section 9 and in 
  
  the proviso to section 18, the words "corresponding new banks" or "corresponding 
  
  new bank", as the case may be, shall be inserted.