Section 44 in The State Bank Of India (Subsidiary Banks) Act, 1959
44. General meetings.
(1)A general meeting (hereinafter referred to as an annual general meeting) of a subsidiary bank shall be held [in each year] [Inserted by Act 1 of 1984, Section 51 (w.e.f. 15-2-1984).] at the place where the head office of the subsidiary bank is situate, and any other general meeting may be convened by the Board of Directors at any time:[Provided that such annual general meeting shall be held before the expiry of six weeks from the date on which the balance-sheet, together with the profit and loss account and auditor's report, is, under sub-section (1) of section 43, forwarded to [the State Bank, the Reserve Bank or the Central Government] [Added by Act 48 of 1973, Section 38, (w.e.f. 31-12-1973)] whichever date is earlier.](2)The shareholders present at an annual general meeting shall be entitled to [discuss and adopt the balance-sheet] [Substituted [discuss the balance-sheet] by Act 30 of 2007 (w.e.f. 18.6.2007) ] and profit and loss account of the bank concerned, made up to the previous 31st day of [March] [Substituted [December] by Act 30 of 2007 (w.e.f. 18.6.2007) ], [or the date notified under section 39, as the case may be] [Inserted by Act 66 of 1988, Section 22 (w.e.f. 30-12-1988)], the report of the Board of Directors on the working [and activities] [Inserted by Act 66 of 1988, Section 22 (w.e.f. 30-12-1988)] of that bank for the period covered by the accounts and the auditors' report on the balance-sheet and accounts.(3)Nothing contained in this section relating to an annual general meeting shall apply in relation to a subsidiary bank if, as on the previous 31st day of [March] [Substituted [December] by Act 30 of 2007 (w.e.f. 18.6.2007) ] [or the date notified under section 39, as the case may be] [Inserted by Act 66 of 1988, Section 22 (w.e.f. 30-12-1988)] all the shares in the issued capital of that bank are held by the State Bank.
