Section 50 of The Banking Regulation Act, 1949 View Chapter 4

Certain claims for compensation barred


   No person shall have any right, whether in contract or otherwise, to any compensation for any loss incurred by reason of the operation of any of the provisions 1[contained in sections 10, 12A, 16, 35A, 35B, 2[36, 43A and 45] or by reason of the compliance by a banking company with any order or direction given to it under this Act].

1Subs. by Act 95 of 1956, s. 12, for certain words (w.e.f. 14-1-1957).

2Subs. by Act 37 of 1960, s. 8, for "and 36" (w.e.f. 19-9-1960)