(2)The balance-sheet and profit and loss account shall be signed,-(a)in the case of a banking company incorporated [in India] [[Substituted by Act 20 of 1950, Section 3, for " in a State" ., by the manager or the principal officer of the company and where there are more than three directors of the company, by at least three of those directors, or where there are not more than three directors, by all the directors, and(b)in the case of a banking company incorporated [outside India] [Substituted by Act 20 of 1950, Section 3, for " outside the State" .] by the manager or agent of the principal office of the company [in India] [Substituted by Act 20 of 1950, Section 3, for " in a State" .].
