law: Banking Regulation Act, 1949
  4. Power to suspend operation of Act
  (1) The Central Government, if on a
  
  representation made by the Reserve Bank in this behalf it is satisfied that it
  
  is expedient so to do, may by notification in the Official Gazette, suspend for
  
  such period, not exceeding sixty days, as may be specified in the notification,
  
  the operation of all or any of the provisions of this Act, either generally or
  
  in relation to any specified banking company.
  (2) In a case of special emergency, the
  
  Governor of the Reserve Bank, or in his absence a Deputy Governor of the
  
  Reserve Bank nominated by him in this behalf may, by order in writing, exercise
  
  the powers of the Central Government under sub-section (1) so however that the
  
  period of suspension shall not exceed thirty days, and where the Governor or
  
  the Deputy Governor, as the case may be, does so, he shall report the matter to
  
  the Central Government forthwith, and the order shall, as soon as may be, be
  
  published in the Gazette of India.
  (3) The Central Government may, by
  
  notification in the Official Gazette, extend from time to time the period of
  
  any suspension ordered under sub-section (1) or sub-section (2) for such
  
  period, not exceeding sixty days at any one time, as it thinks fit so however
  
  that the total period does not exceed one year.
  (4). A copy of any notification issued under
  
  sub-section (3) shall be laid on the table of 8[Parliament] as soon as may be
  
  after it is issued.