Section 18(2) in The State Bank Of India (Subsidiary Banks) Act, 1959
(2)Nothing contained in sub-section (1) shall entitle the State Bank to transfer any shares held by it in any subsidiary bank such transfer will result in reducing the shares held by it to less than [fifty-one percent of the issued capital consisting of equity shares] [Substituted [fifty-five percent of the issued capital] by Act 30 of 2007 (w.e.f. 18.6.2007) ] of that subsidiary bank.[18A. Right of registered shareholder to nominate. - (1) Every individual registered shareholder of a subsidiary bank may, at any time, nominate, in the prescribed manner, an individual to whom all his rights in the shares shall vest in the event of his death.
