Section 35A(4) in The State Bank Of India (Subsidiary Banks) Act, 1959
(4)Upon making the order of supersession of the Board of Directors of the subsidiary bank, notwithstanding anything contained in this Act,-(a)the chairman, managing director and other directors shall, as from the date of supersession, vacate their offices as such;(b)all the powers, functions and duties which may, by or under this Act, or any other law for the time being in force, be exercised and discharged by or on behalf of the Board of Directors of such subsidiary bank, or by a resolution passed in general meeting of the subsidiary bank, shall, until the Board of Directors of the subsidiary bank is reconstituted, be exercised and discharged by the Administrator appointed by [the Central Government] [Substituted by Act 17 of 2011.] under sub-section (2):Provided that the power exercised by the Administrator shall be valid notwithstanding that such power is exercisable by a resolution passed in the general meeting of the subsidiary bank.
