Section 28(b) in The State Financial Corporations (Amendment) Act, 2000
(b)after sub- section (2), the following sub- sections shall be inserted, namely:- '' (2A) Nothing contained in sub- section (1) and sub- section (2) shall apply in a case where a State Government holds less than fifty- one per cent. of the equity shares in the Financial Corporation.(2B) Notwithstanding the equity share holding of a Financial Corporation by a State Government, the State Government may advise the Financial Corporations on the matters of policy.''.
