Skip to content
Section 3A
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970

Section 3A. Trust not to be entered on the register

1 [3A. Trust not to be entered on the register.--Notwithstanding anything contained in sub-section (2F) of section 3, no notice of any trust, express, implied or constructive, shall be entered on the register, or be receivable, by the corresponding new bank:]

2 [Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.]

1Superscript markers show text inserted or substituted by a later amendment. The Act carries the markers without the footnotes they refer to, so they are shown without a target.