Bank of baroda

MAIN PROVISIONS OF CONSTITUTIONAL DOCUMENTS
We were constituted as a “corresponding new bank” in 1970 under the provisions of the Bank Acquisition Act. We are not
required to have memorandum and articles of association. Since we were constituted under the Bank Acquisition Act we
have provided the salient terms thereof. Further since the Nationalised Banks (Management and Miscellaneous Provisions)
Scheme, 1970 and the Bank Regulations deal with the management of corporate affairs in our Company, which are
matters typically finding a place in the constitutional documents of a company incorporated under the Companies Act, the
same have been profiled in this chapter.
The Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 was made by S.O. 3793 dated
November 16, 1970 by the Central Government in consultation with the Reserve Bank of India in exercise of the powers
conferred by Section 9 of the Bank Acquisition Act.
The Bank Regulations were formulated under Section 19 of the Bank Acquisition Act by our board of directors in
consultation with the Reserve Bank of India, and with the previous sanction of the central government.
The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 amended Section 34A, 36AD and Section
51 of the Banking Regulation Act, 1949 and made these sections applicable to corresponding new banks constituted
under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. For details of the applicability of the
Banking Regulation Act to correspondent new bank like our Bank see the section titled “Regulations and Policies” on
page 78 of this Red Herring Prospectus.
For more details, investors are advised to refer to the complete text of the Banking Companies (Acquisition and Transfer
of Undertakings) Act, 1970, Banking Regulation Act, 1949, Nationalised Banks (Management and Miscellaneous Provisions)
Scheme, 1970 and the Bank of Baroda General (Shares and Meetings) Regulations, 1998.
Shareholders and investors in the Bank may note that the rights available to shareholders of a corresponding new bank
are more restricted than the rights available to the shareholders of a company incorporated under the Companies Act,
1956. For further details on the restrictions and their potential impact on shareholders of our Bank please refer to the
section titled “Risk Factors – External Risk Factors” on page xx of this Red Herring Prospectus.
The salient features of the same are as below.