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of <h1>Amendment to Finance Act 2005 clarifies definitions of 'banking company' and 'co-operative bank' under Section 94.</h1> The amendment to Section 94 of the Finance Act, 2005, introduces new clauses defining 'banking company' and 'co-operative bank.' Clause (3A) specifies that a 'banking company' is one governed by the Banking Regulation Act, 1949, including banks mentioned in Section 51 of that Act. Clause (4A) defines 'co-operative bank' according to its meaning in Part V of the Banking Regulation Act, 1949. These definitions are effective from June 1, 2005, and are deemed to have been inserted into the Finance Act as part of the Taxation Laws (Amendment) Act, 2005.
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