Bank of baroda

Section of
Companies Act
Rights available to shareholders of a
company
Corresponding Provision* Rights available to
shareholders of a
Corresponding New Bank
Provided that no individual
or company resident
outside India or any
company incorporated
under any law not in force
in India of any branch of
such company, whether
resident outside India or
not, shall at any time hold
or acquire by transfer or
otherwise shares of the
corresponding new bank
so that such investment in
aggregate exceed the
percentage, not being
more than twenty per cent
of the paid-up capital as
may be specified by the
central Government by
notification in the Official
Gazette.
110
To apply for the registration of transfer of
shares.
Regulations 18 and 19
Regulation 18: Power to
suspend transfers
The board or the
committee designated by
the board shall not register
any transfer during any
period in which the register
is closed.
Regulation 19: Board’s right
to refuse registration of
transfer of shares
(i) The board or
committee may refuse
transfer of any shares
in the name of the
transferee on any one
or more of the
following grounds, and
on no other grounds:
a.
the transfer of shares
is in contravention of
the provisions of the
Bank Acquisition Act
or regulations made
thereunder or any
other law or that any

---

84
BANK OF BARODA
Section of
Companies Act
Rights available to shareholders of a
company
Corresponding Provision* Rights available to