Section 3A in The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
3A. [ Trust not to be entered on the register.
- Notwithstanding anything contained in sub-section (2-F) of section 3, no notice of any trust, express, implied or constructive, shall be entered on the register or be receivable, by the corresponding new bank:] [Inserted by Act 1 of 1984, Section 71 (w.e.f. 15.2.1984).][Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.] [Inserted by Act 8 of 1997, Section 20 (w.r.e.f. 15.1.1997). ]
