Central government approval of directors now enables up to five full time directors in corresponding new banks under the amendment. Part VI commences on a date notified by the Central Government. Clauses 149 and 150 amend the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 to empower the Central Government to approve not more than five full time directors in the corresponding new bank.
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Provisions expressly mentioned in the judgment/order text.
Central government approval of directors now enables up to five full time directors in corresponding new banks under the amendment.
Part VI commences on a date notified by the Central Government. Clauses 149 and 150 amend the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 to empower the Central Government to approve not more than five full time directors in the corresponding new bank.
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