Section 5(3) in Banking Companies (Acquisition And Transfer of Undertaking) Act, 1969
(3)The chief executive officer of the corresponding new bank shall in exercise of the powers conferred on him by sub-section (20), take all such steps as may be required by the laws of any such country outside India for the purpose of effecting such transfer or vesting, and may either himself or through any person authorized by him in this behalf realize any asset, and discharge any liability of the existing bank.
