Section 2 in Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020
2. Definitions.
(1)In this Scheme, unless the context otherwise requires, -(a)"Act" means the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) in respect of Punjab National Bank and United Bank of India and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980), in respect of Oriental Bank of Commerce;(b)"Annexure" means Annexure attached to this Scheme;(c)"Bank" means the Transferee Bank, Transferor Bank 1 or Transferor Bank 2;(d)"Board" means the Board of Directors of Transferee Bank, Transferor Bank 1 or Transferor Bank 2;(e)"Transferee Bank" means Punjab National Bank;(f)"Transferor Bank 1" means Oriental Bank of Commerce;(g)"Transferor Bank 2" means United Bank of India;(h)"Transferor Banks" means the Transferor Bank 1 and Transferor Bank 2;(i)"Share Exchange Ratio" means the ratio at which the Transferee Bank shares shall be allotted to the Transferor Banks' shareholders as set out in the Schedule; and(j)"Schedule" means the schedule to this Scheme.(2)Words and expressions used herein and not defined in this Scheme, but defined in the Act shall have the meanings respectively assigned to them in those Acts.
