51. [ Application of certain provisions to the State Bank of India and other notified banks. [Substituted by Act 79 of 1956, Section 43 and Sch. II, for Section 51 (w.e.f. 22.10.1956).]
[(1)] Without prejudice to the provisions of the State Bank of India Act, 1955 (23 of 1955) or any other enactment, the provisions of sections 10, 13 to 15, 17, [19 to 21-A, 23 to 28, 29 ] [Substituted by Act 1 of 1984, Section 40, for certain words (w.e.f. 15.2.1984).]excluding sub-section (3), [29A,] [Inserted by Act No. 4 OF 2013] [sub-sections (1-B), (1-C) and (2) of sections 30, 31,] [Substituted by Act 66 of 1988, Section 10, for " 31," (w.e.f. 30.12.1988).] 34, 35, 35-A, [35AA, 35AB] [Inserted by Notification Act No. 30 of 2017.] 36 excluding clause (d) of sub-section (1), 45-Y to 45-ZF, 46 to 48, 50, 52 and 53 shall also apply, so far as may be, to and in relation to the State Bank of India [or any corresponding new bank or a Regional Rural Bank or any subsidiary bank] [Substituted by Act 1 of 1984, Section 40, for certain words (w.e.f. 15.2.1984).] as they apply to and in relation to banking companies:[Provided that-(a)nothing contained in clause (c) of sub-section (1) of section 10 shall apply to the chairman of the State Bank of India or to a [managing director] of any subsidiary bank insofar as the said clause precludes him from being a director of, or holding an office in, any institution approved by the Reserve Bank:(b)[ nothing contained in sub-clause (iii) of clause (b) of sub-section (1) of section 20 shall apply to any bank referred to in sub-section (1), insofar as the said sub-clause (iii) of clause (b) precludes that bank from entering into any commitment for granting any loan or advance to or on behalf of a company (not being a Government company) in which not less than forty per cent. of the paid-up capital is held (whether singly or taken together) by the Central Government or the Reserve Bank or a corporation owned by that bank; and [Substituted by Act 1 of 1984, Section 40, for Clauses (b) and (c) (w.e.f. 15.2.1984).](c)nothing contained in section 46 or in section 47-A shall apply to,-(i)an officer of the Central Government or the Reserve Bank, nominated or appointed as director of the State Bank of India or any corresponding new bank or a Regional Rural Bank or any subsidiary bank or a banking company; or(ii)an officer of the State Bank of India or a corresponding new bank or a Regional Rural Bank or a subsidiary bank nominated or appointed as director of any of the said banks (not being the bank of which he is an officer) or of a banking company.][* * *] [Explanation omitted by Act 58 of 1968, Section 18 (w.e.f. 1.2.1969).](2)[ References to a banking company in any rule or direction relating to any provision of this Act referred to in sub-section (1) shall, except where such rule or direction provides otherwise, be construed as referring also to the State Bank of India, a corresponding new bank, a Regional Rural Bank and a subsidiary bank.] [Inserted by Act 1 of 1984, Section 40 (w.e.f. 15.2.1984).][Substituted by Act 38 of 1959, Section 64 and Sch. III, for the proviso (w.e.f. 10.9.1959).]
