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Union of India - Section

Section 27 in Banking Companies (Acquisition And Transfer of Undertaking) Act, 1969

27. Repeal and Saving.-

(1)The Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 (8 of 1969), is hereby repealed.
(2)Notwithstanding such repeal, anything or any action taken, including any order made, notification issued or direction given, under the said Ordinance shall be deemed to have been done, taken, made, issued or given, as the case may be, under the corresponding provision of this Act.
(3)No action taken or thing done under the said Ordinance shall, if it is inconsistent with the provisions of this Act, be of any force or effect.
(4)Not withstanding anything contained in the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969, no right privilege, obligation or liability shall be deemed to have been acquired, accrued or incurred thereunder.THE FIRST SCHEDULE(See sections 2, 3 and 4)
Existing bank Corresponding new bank.
The Central Bank of India Limited. Central Bank of India.
The Bank of India Limited. Bank of India.
The Punjab National Bank Limited. Punjab National Bank.
The Bank of Baroda Limited. Bank of Baroda.
The United Commercial Bank Limited. United Commercial Bank.
Canara Bank Limited. Canara Bank.
United Bank of India Limited. United Bank of India.
Dena Bank Limited. Deena Bank.
Syndicate Bank Limited. Syndicate Bank.
The Union Bank of India Limited. Union Bank of India.
Allahabad Bank Limited. Allahabad Bank.
The Indian Bank Limited. Indian Bank.
The Bank of Maharashtra Limited. Bank of Maharashtra.
The Indian Overseas Bank Limited. Indian Overseas Bank.
THE SECOND SCHEDULE(See section 6)PRINCIPLES OF COMPENSATION