Section 2 in Banking Companies (Acquisition And Transfer of Undertaking) Act, 1969
2. Definitions.-
In this Act, unless the context otherwise requires, -(a)"banking company" does not include a foreign company within the meaning of section 591 of the Companies Act, 1956; (1 of 1956)(b)"corresponding new bank," in relation to an existing bank, means the body corporate specified against such bank in column 2 of the First Schedule;(c)"Custodian" means the person who becomes, or in appointed, a custodian under section 10;(d)"existing bank" means a banking company specified in column 1 of the First Schedule, being a company the deposits of which, as shown in the return as on the last Friday of June, 1969, furnished to the Reserve Bank under section 27 of the Banking Regulation Act, were not less than rupees fifty crores; ( 10 of 1949.)(e)"prescribed" means prescribed by rules made under this Act;(f)"Tribunal" means a Tribunal constituted under section 7 ;(g)words and expressions used herein and not defined but defined in the Banking Regulation Act.1949(10 of 1949), have the meaning respectively assigned to them in that Act.
