close

 

1[37. Suspension of assets requirements as to foreign securities.

Notwithstanding anything contained in the foregoing provisions, the Bank may, with the previous sanction of the Central Government, for periods not exceeding six months in the first instance, which may, with the like sanction, be extended from time to time by periods not exceeding three months at a time, hold as assets foreign securities of less amount in value than that required by sub-section (2) of section 33.

2[* * * * *]

 

Note:

1 Subs. by Act 38 of 1956, s. 4, for s. 37 (w.e.f. 6-10-1656).

2 Proviso omitted by Act 48 of 1957, s. 3 (w.e.f. 31-10-1957).