(1)Save as otherwise provided in sub-section (2), the shares of the State Bank shall be freely transferable.(2)Nothing contained in sub-section (1) shall entitle the [Central Government] [ Substituted by Act 32 of 2007, Section 4, for " Reserve Bank" (w.r.e.f. 29-6-2007).] to transfer any shares held by it in the State Bank if such transfer will result in reducing the shares held by it to less than [fifty-one per cent of the issued capital consisting of equity shares,] [Substituted for the words "fifty-five per cent of the issued capital"] of the State Bank.
