RCI Act 12

धारा 12 · Act not to apply to certain Institutions

(1)

The provisions of this Act shall not apply to any Institution which is owned by or is under the management Of the Central Government or a State Government or a Corporation established by or under an enactment (including an Ordinance) or a Government company as defined in section 617 of the Companies Act, 1956.

(2)

For the purposes of sub-section (1), the management of an Institution by a receiver or any authorised person appointed by the Central Government or a State Government under any law for the time being in force shall be deemed to be management by the Central Government or the State Government, as the case may be.

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