law: Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970  
  2.Definitions.-
  In this Act, unless the context otherwise requires,------
  (a) "appointed day" means the 14th day of February,
  
  1970 (3 of 1970), being the day on which the Banking Companies (Acquisition and
  
  Transfer of Undertakings) Ordinance, 1970, was promulgated;
  (b) "banking company" does not include a foreign
  
  company 5 within the meaning of section 591 of the Companies Act, 1956 (1 of
  
  1956);
  (c) "commencement of this Act" means the 19th day of
  
  July, 1969;
  (d) "corresponding new bank", in relation to an
  
  existing bank, means the body corporate specified against such bank in column 2
  
  of the First Schedule;
  (e) "Custodian" means the person who becomes, or is
  
  appointed, a Custodian under section 7;
  (f) "existing bank" means a banking company specified
  
  in column 1 of the First Scheduled, being a company the deposits of which, as
  
  shown in the return as on the last Friday of June, 1969, furnished to the
  
  Reserve Bank under section 27 of the Banking Regulation Act, 1949, were not
  
  less than rupees fifty crores;
  (g) "Schedule" means a Scheduled to this Act;
  (h) words and expressions used herein and not defined but
  
  defined in the Banking Regulation Act, 1949, have the meanings respectively
  
  assigned to them in that Act.