Section 3A in State Bank of India General Regulations, 1955
3A. [ Share Capital. [Inserted by the State Bank of India General (Amendment) Regulations, 2013 (Regulation. 3) , with effect from 3rd March, 2014, published in the Gazette of India, Extraordinary, Part II. - Section 4, dated 4.03.2014.]
(1)The share capital of the State Bank shall consist of equity share capital or equity and preference share capital.(2)Equity share capital is that part of share capital, which is not preference share capital.(3)Preference share capital is that part of share capital which fulfils the following conditions namely: -(a)that as respects dividends, it carries a preferential right to be paid a fixed amount or an amount calculated at fixed rate or floating rate, which may be either free of or subject to income-tax; and(b)that as respect capital, it carries or will carry, on winding up, to repayment of capital, a preferential right to be repaid the amount of the capital paid-up or deemed to have been paid up, whether or not there is preferential right to the payment of either or both of the following amounts, namely: -(i)any money remaining unpaid, in respect of the amounts specified in clause (a) up to the date of winding up or repayment of capital, and(ii)any fixed premium or premium on any fixed scale, specified by the Central Board or its Executive Committee with the previous sanction of the Central Government.
