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30. While disposing of the earlier proceedings, the Bank was given liberty to take disciplinary action only after holding proper proceedings in accordance with law. Being a statutory functionary, the Bank as well as its officers can only function within the purview of the statutory regulations empowering them to take disciplinary action. It is not open to the Board to rely on the Service Rules, 1963, after the same stood repealed as and from 1.10.1976, and especially when the Service Rules, 1963 would not hold the field in the light of Section 19(3) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. Therefore, the 2nd appellant cannot function as the Disciplinary Authority in the light of the Schedule to the Disciplinary and Appeal Regulations, as per which he is not the Disciplinary Authority. Therefore, the first part of Point No. 5 is answered in favour of the respondent.