BR Act definition

BR Act means "The Banking Regulation Act, 1949", or any statutory modification or re-enactment thereof for the time being in force.
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BR Act means the Banking Regulation Act, 1949, and includes all rules, regulations, guidelines and circulars issued by the RBI thereunder for the time being in force.
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BR Act means Banking Regulation Act 1949, as applicable to Co-operative Societies;
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Examples of BR Act in a sentence

  • Since investments in non-financial services companies do not require prior approval from RBI, banks could potentially acquire substantial equity holding in these companies within the provisions of Section 19 (2) of the BR Act.

  • Section 45 ZE of the B.R Act, 1949 does not preclude a minor from being a nominee for obtaining delivery of the contents of a locker.

  • However, unlike in the case of subsidiaries, there are no statutory restrictions on the activities of companies in which banks can hold equity within the ceiling laid down under section 19(2) of the B.R. Act.

  • While banks may invest in other equipment leasing/ hire purchase/factoring companies within the limits specified in Section 19(2) of BR Act, 1949, with the Reserve Bank's prior approval, they shall not act as promoters of such companies.

  • Equity holding by a bank in excess of 10 per cent of the non financial services investee company’s paid up capital would be permissible without RBI’s prior approval (subject to the statutory limit of 30 per cent in terms of Section 19 (2) of the B.R. Act) if the additional acquisition is through restructuring/Corporate Debt Restructuring (CDR), or acquired by the bank to protect its interest on loans/investments made in a company.

  • It has been decided in consultation with the Government of India, that the Banking Companies (Nomination) Rules, 1985 are the relevant rules made under section 45ZA of the BR Act, 1949.

  • That in view of the various provisions of the BR Act and the RBI Act, the RBI is obliged to see that the banking business is carried on by banks, prudently and adhering to sound principles of banking.

  • SBI is also bound by the provisions mentioned in section 51 of the Banking Regulations Act, 1949 (“BR Act”), and the directions and guidelines issued by the regulatory authority, Reserve Bank of India (“RBI”) from time to time in accordance with the BR Act, Reserve Bank of India Act, 1934 (“RBI Act”) or any other statutory provisions.

  • In terms of Section 12 (2) (ii) read with Section 56 of the BR Act, a co-operative bank shall not withdraw or reduce its share capital, except to the extent and subject to such conditions as the Reserve Bank may specify in this behalf.

  • That the BR Act has conferred upon the RBI the powers to issue directions under Section 35A to the banking companies generally or to any banking company in particular, in public interest or in the interest of the Banking Policy or to prevent the affairs of the banking company being conducted in a manner detrimental to the interest of its depositors or in a manner prejudicial to the banking company.


More Definitions of BR Act

BR Act means the Banking Regulation Act, 1949 as amended form time to time;
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BR Act means the Banking Regulation Act, 1949.
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Related to BR Act

  • PBR Act means the Plant Breeder’s Rights Xxx 0000 (Cth) as amended from time to time.

  • CER Act means the Canadian Energy Regulator Act (Canada), and regulations thereunder, all as amended or replaced from time to time.

  • Air Act, as used in this clause, means the Clean Air Act (42 U.S.C. 7401 et seq.).

  • Water Act, as used in this clause, means Clean Water Act (33 U.S.C. 1251 et seq.).

  • FOI Act means the Freedom of Information Xxx 0000 and any subordinate legislation made under this Act from time to time together with any guidance and/or codes of practice issued by the Information Commissioner in relation to such legislation;

  • Federal Clean Air Act means Chapter 85 (§ 7401 et seq.) of Title 42 of the United States Code.

  • Charter Act The Federal National Mortgage Association Charter Act (12 U.S.C. § 1716 et seq.), as amended and in effect from time to time.

  • former Act means the Companies Act or the International Business Companies Act;

  • POPI Act means the Protection of Personal Information Act 4 of 2013 as may be amended from time to time;

  • Clean Air Act or “Act” means the federal Clean Air Act, 42 U.S.C. §§ 7401-7671q, and its implementing regulations.

  • ACNC Act means the Australian Charities and Not-for-profits Commission Act 2012 (Cth).

  • The "Clean Air Act means those provisions contained in 42 U.S.C. §§ 7401 to 7671q, and regulations promulgated thereunder.

  • Liquor Act means the Liquor Act 2007 and any regulation made under the Liquor Act 2007. Any reference to a provision of the Liquor Act includes a reference to the same or similar provision in any legislation replacing, amending or modifying the Liquor Act however that provision may be amended in that legislation.

  • OHS Act means the Occupational Health and Safety Act 2004;

  • the 1991 Act means the Water Industry Act 1991(a);

  • the 1998 Act means the Social Security Act 1998;

  • Foreign Corrupt Practices Act means the Foreign Corrupt Practices Act of the United States, 15 U.S.C. Sections 78a, 78m, 78dd-1, 78dd-2, 78dd-3, and 78ff, as amended, if applicable, or any similar law of the jurisdiction where the Property is located or where the Company or any of its Subsidiaries transacts business or any other jurisdiction, if applicable.

  • the 1992 Act means the Local Government Finance Act 1992;

  • Rail Safety Act means the Rail Safety Act 1998 (WA);

  • WHS Act means the Work Health and Safety (National Uniform Legislation) Act 2011 (NT) and includes subordinate legislation made under that Act including regulations and approved codes of practice as well as any amendment, re-enactment or replacement of such Act ; and

  • Corrupt and Fraudulent Practices means either one or any combination of the practices given below;

  • the 1972 Act means the Local Government Act 1972.

  • the 1961 Act means the Land Compensation Act 1961(d); “the 1965 Act” means the Compulsory Purchase Act 1965(e); “the 1980 Act” means the Highways Act 1980(f);

  • S.A.F.E. Act means the secure and fair enforcement for mortgage licensing act of 2008, Title V of the housing and economic recovery act of 2008 ("HERA"), P.L. 110-289, effective July 30, 2008.

  • the 1981 Act which means the Compulsory Purchase (Vesting Declarations) Act 1981.

  • FMC Act means the Financial Markets Conduct Act 2013.