Section 25(4) in Banking Companies (Acquisition And Transfer of Undertaking) Act, 1969
(4)In the Deposit Insurance Corporation Act, 1961 (47 of 1961.), -(a)in section 2, -(i)after clause (e) , the following clause shall be inserted, namely :-(ee)"corresponding new bank" means a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1969;(ii)in clause (i), after the words "banking company", the words "or a corresponding new bank" shall be inserted ;(b)section 13 shall be re-numbered as sub-section (1) thereof and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely : -"(2) The provisions of clauses (a), (b), (c), (d), and (h) of sub-section (1) shall apply to a corresponding new bank as they apply to a banking company.".
