Section 45ZD of The Banking Regulation Act, 1949 View Chapter 3B

Notice of claims of other persons regarding articles not receivable.


   1[45ZD.  Notice of claims of other persons regarding articles not receivable.-- No notice of the claim of any person, other than the person or persons in whose name any article is held by a banking company in safe custody, shall be receivable by the banking company, nor shall the banking company be bound by any such notice even though expressly given to it:

   Provided that where any decree, order, certificate or other authority from a court of competent jurisdiction relating to such article is produced before a banking company, the banking company shall take due note of such decree, order, certificate or other authority.]

1Ins. by Act 1 of 1984, s. 37 (w.e.f. 29-3-1985).