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Union of India - Section

Section 9 in The State Bank Of Hyderabad Act, 1956

9. [ Authorised capital. - (1) Subject to the provisions of this Act, the authorised capital of the Hyderabad Bank shall be rupees five hundred crores.

(2)The authorised capital of the Hyderabad Bank shall be divided into shares of one hundred rupees each or of such denomination as the Hyderabad Bank may, with the approval of the State Bank, decide.
(3)The Hyderabad Bank may issue the certificates of shares of equivalent values of such denomination as the Hyderabad Bank may decide with the approval of the State Bank, in accordance with the procedure as may be specified by regulations made under section 63 of the State Bank of India (Subsidiary Banks) Act, 1959 and every shareholder of the Hyderabad Bank shall be entitled to have the certificate of shares of equivalent value of such denomination.
(4)Notwithstanding anything contained in sub-section (1), the State Bank may, [in constitution with the Reserve Bank and with the Central Government] [ New Section 9 substituted by The State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007(30 of 2007) ], authorise the Hyderabad Bank to increase or reduce its authorised capital.]
Prior to substitution section 9 read as-9. [ Authorised capital.- (1) The authorised capital of the Hyderabad Bank shall be one crore of rupees, divided into shares of one hundred rupees each.(2) Notwithstanding anything contained in this section, the State Bank may, with the approval of the Reserve Bank, authorise the Hyderabad Bank to increase or reduce its authorised capital:Provided that where the authorised capital is so increased, the shares issued shall be of the denomination specified in sub-section (1).] [Substituted by Act 38 of 1959, Section 64 and Schedule III, for ss. 9 and 10 (w.e.f. 1-10-1959). ]