UCO Bank Shares And Meetings Amendments Regulations, 2003

<@5?* V4j?- %.^S:b.v VT* _ % _ A'O PUBLISHED BY AUTHORITY No. 48] NEW OiilLKL SATUKOAV, NOVEMBER 29—DECEMBER 5, 2003 (AvIRMIAYAN.A: K, 1925) (Separate paging E given to this Part in order thxti it may he filed a.s a separate compilation) [Miscenancou.s Nolixjcations including Nolclkationr;, Orders, Advertisciiienls and Notices issued by Statutory Bodies] WTM UCO BANK Genral (Amendment) RegyNations, 2003 1. 2003^t^i 5. PqPiqH 5 I lliiblki ■ ibfe'imibip-sampryfciyb ihib^ ibsymjusuatt tb ^ (it) (^) 3?rT^- % I A.M^^19-q- I TTTO, ̂ 300- ^ 21. W61 " ̂1 3t ! : . THE GAZETTE OF INDIA. NOVEMBER 29. 2003 (AGRAHAYANA 8. 1925) [Part HI—Sec 4- UCO BANK Kolkata, the 18lh November 2003 No. HO/LAW/1004/2003 No ../v. In exercise of the powers conferred by sub-section (2) of section 19 of the Banking Companies (Acquisition and Transfer of Undertakings) Act. 1970 (5 of 1970). the Board of Directors of UCO Bank after consultation with the Reserve Bank of India and with the previous sanction of the Central Government, hereby makes the following amendments further to amend UCO Bank General Regulations. 1998, namely, • 1- (1) These regulations may be called the UCO'Bank General (Amendment) Regulations. 2003. (2) They shall come into force . . ihe date of their publication in the Official Gazette. 2. UCO Bank General Reg ..ations. 1998" shall be renamed as "UCO Bank (Shares and Meetings) Regulations, 2003". • 3. In Regulation 2 of UCO Bank (Amendment) Regulations, 2003, so renamed. (i) for clause (e). the folbwing shall be substituted, namely:- (e) "Committee means a Committee constituted under Regulation 2A'' - ■ (ii) in Cause J), ,Ue following words and ligures shall be,needed a, ' ■ ■ the end. namely:-. ■ "and register of beneficial owners maintained by and depository under section 11 of the Depository Act, 1996 (22 of 1996)". 4.^ after regulation 2. the following new regulation shall be inserted namely:- • "2A(i) Except as provided in Clause (ii) of regulation 67. the Board may constitute, as and when necessary, a Committee consisting of e Chairman and Managing Director or in his absence Executive Director and two other directors as it may deem fit, for; the purposes of these regutations; (iO The Committee constituted under this regulation shall observe • such rules of procedure as may be specified by the Board ". In regulation 5. Clause (v) shall be omitted. -6. Aftemegulation 5, the following regulation shall be inserted, namely:- ■■5A(i) The Bank shall , unless the reg.ter is in such form a. in itself to constitute an index. Keep an index, which may be in form of a ard index of the names of shareholders and shall, within fourteen days after the date on which any alteration is made' in the register of shareholders, make the necessary alteration in.the " index. (11). 'f^e'cdex shall be kept with the register of shareholders". in regulation r, m clause (li) for the words "in case of firms", the words case of partnership firms "sfiall be substituted. » ■ THE GAZETTE^OF INDIA, NOVEMBER 29. 2003 (AGRAHAYANA 8. 1925) {Part ni—Sec 4 8. !n regulation 8, after clause (ii). the fo!iov/ing clause shall be inserted, namely:- (!ii) The register in electronic form shai! be maintained subject to such safeguards as stipulated for securing electronic records under the Information Technology Act. 2000 (21 of 2000). " 9. In regulation 11, in .clause (ii) for the words " at the rate of Rs.5/- for every 100 words", the words "at the r^ate of Rs.5/- or at such rate as the Board may decide for every 1000 words" shali be substituted. 10. For regulation 12, the following shali be substituted, namely:- 12. Closing of the register- The Bank may. after ensuring compliance of the applicable guidelines and the listing agreement with the Stock Exchanges, and after giving not less than seven days previous notice by advertisement in at least two newspapers circulating -in India, close the register of shareholders for any period or periods not exceeding in the aggregate forty-five days in each year, but not exceeding thirty days at any one time as may In its opinion, be nccessar/". 11.- in-regulation 13, * (i) in ciause (ii) for the words " some other officer appointed by the Bocird , the \vords some ether officer not below the rank of Scale .'II or the Company Secretary" shall be substituted; - (ii) ■ Clause (v) shall be omitted. 12- in ragnlalion ,5. lor the heading -Renewal o, share ced.flcate- the - following shall be substituted, namely; Issue of new or duplicate share cei-li^Tcate 13. In regulation 17, for the clauses (Hi) and (iv), the following clauses shall be substituted, namely;- "(iii) Upon receipt by the Bank of an instrument of transfer along w,th a share certificate with a request to .register the transfer, the Board or the Committee designated by the Board shall forward the said instrument of transfer alongwith share certificate to the Registrar or Share Transfer Agent for the purposes of verification that.the technical requirements are complied with in their entirety. The Registrar or Share Transfer Agent shall return the instrument of transfer along with the share certificate, if any, to the transferee for resubmission unless the instrument of transfer is presented to the bank, duly stamped and properly executed for registration and is accompanied by the.certificate of the shares to which it relates and such gther evidence as the Beard .may require to show the title of the transferor to make such transfer. Explanation:- "Wustratioasjsf technical requirements" means (a) Transfer deed shall be-duly stamped ; (b) Certificate number or distinctive number mentioned in the transfer deed shall tally with the share certificate; (c) Transferor's signature shall tally; 9140 * INDIA. NOVEMBER 29. 2003 (AGRAHAYANA 8. J925) [Part 4 " (d) Transfer deed shall be witnessed." (IV) The Board or the Committee designated by the Board shall, unless it refuses to register the transfer under regulation- 19 hereinafter, cause the transfer to be registered. (v) Unless the transfer of shares is refused under regulation 19, the share certificate duly transferred shall be delivered to the . transferee within sixty days-from the date of lodging of the instrument of transfer *. 14.^ In regulation 19:- - , . . - (i) In clause (1) for the wordsTThe Board may refuse", "the words ^ ThiS Board or Committee may refuse" shali;be substituted; ^ (ii) the proviso to clause (i) shall be omitted: „ (iii) in clause (ii)- : : (a) In the opening portion for the words ** The Board shall", the words " the Board or Committee shall" shall be substituted . ■ •: i y' . i . _ (b) for sub-clause (b). the following sub- clause'shall be substituted, namely "If it has formed the opinion that such registration ought to. be refused on any of:: the grounds mentioned in Sub regulation (i) intimate the same.toi the Transferor and the t ransieree by nctice.in writing giving reasons for such refusal within 60 days from the receipt of transfer form'or " within such period as may be laid down in the Listing Agreement with the concerndd Stock Exchange". PARTin Sec. 4] THE GAZETTE OF INDIA. NOVEMBER 29. 2003 (AGRAHAVAN-a 8. 1925). - " 15. The following Explanation shall be inserted in regulation 21. namely:- "Explanation- For the .purposes of this regulation, a shareholder may cease to be qualtfied for registration,- (a) If he is a guardian of minor, on the minor attaining the majority; (b) if he is holding shares as a Karta, on his ceasing to be a Karta". :16, in regulation 32. for the words " by a resolution of the Board to that effect" the words " by a resolution of the Board to that effect at its next meeting to be held after the expiry of the notice of forfeiture under regulation 31 " shall be substituted.. , : . . |i . 17. In regulation 44. for the words "' any other OfficeVof t^ Bank", the words "Company Secretary or any othfr'^Officer of the Bank^not below the rank of Scale 11" shall be substituted. " . 18. In Regulation 46. in proviso to the clause (ii),T registered .post, with or without ■ " . words "by registered p"st. with or Without ̂ acknowledgement due or by courier service or in an electro.nic mode" shall be substituted ; ' ,.;..(n) The words " or electronic media, as the case may be " shall bet ! 'nserted after the words " ordinary course of post". 19- in Chapter III,- _ " (i) in regulation 47, for the words "oiie or more depository ", the words one or mpre depository' ss defined in section 2(e) of the Depositories Act. 1996" shall be substituted; 12 THE GAZh l 1 b OF INDIA, NOVEMBER 29. 2003 (AGRAHAYANA 8. 1925) (Part HI—Sec 4 (ii) regulations 48 to 55 shall be omitted. 20. In regulation 56, in clause (i), for the words " any authorised official" the words " any officer not below the rank of Scale VII or Company Secretary" shall be substituted.- 21. After regulation 61. the following regulations shall be inserted, namely;- "OIA Scrutineers at Poll. i . (i) Where a poll is to be taken, the Chairman of the meeting shall ■ - appoint two scrutineers to scrutinize the votes given on the poll ; and to report thereon to him. . (ii) The Chairman of the meeting shall have the power, at-any time _ before the result of the poll Is declared, to remove a scrutineers from the office and to fill the vacancy In the office of the scrutineers arising from such removal or fr , any other cause. (iii) Of the two scrutineers appointed under this regulation one shall always be a shareholder (not being an Officer or employee of the Bank) present at the meeung: provided . that such a shareholder is available and Vi/iliing to be appointed 61B. Manner of taking poll and result theregf. ■ ' - - (i) I he Chairman of the meeting shall have power to regulate the' . manner in which a poll shall be taken. (ii) The result of the poll shall be deemed to be the decision of the meeting on the resolution on Vv'hich the poll was taken". - " 22. In regulation 62. after clause (i,i), the f: llowing clause shall be i namely; 'nserted "(iv) On written request made by a shareholder for inspection of the minute book or for a copy of the minute of a specified meeting e Bank shall allow the inspection or furnish the copy of the minute, as the case may be. to the shareholder". ™ ,1" T'?"(one hundred) shares-. ,he words " holding ,ess ,ha„ ,00 (one hundred) shares shall be substituted.