Chapter II — TRANSFER OF THE UNDERTAKINGS OF EXISTING BANKS AND SHARE CAPITALS OF THE CORRESPONDING NEW BANKS

Section 3BRegister of beneficial owners

Section 3B: Register of beneficial owners

3B. Register of beneficial owners

[3B. Register of beneficial owners.]—The register of benificial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996), shall be deemed to be a register of shareholders for the purposes of this act.

Explanation.—For the purposes of section 3, section 3A and this section , the expressions "benificial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996.

Amendment notes (1)
  1. Ins w.e.f. 15-1-1997 . Ins. by s. 21, ibid. (w.e.f. 15-1-1997).