Agricultural Credit Act, 1978
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Recognised banks. [cf. 1947, ss. 21 (1), 23] |
25.—(1) Every bank which, immediately before the commencement of this Act, was a recognised bank for the purposes of Part III of the Agricultural Credit Act, 1947 , shall continue to be a recognised bank for the purposes of this Part. | |
(2) The Minister may, on the application of any bank, appoint the bank to be a recognised bank for the purposes of this Part and he shall thereupon give to the Minister for Justice notice of the appointment. | ||
(3) The Minister may by notice in writing withdraw, giving the reason or reasons therefor, the recognition of a bank as a recognised bank and shall thereupon give to the Minister for Justice notice of the withdrawal. | ||
(4) A bank which is for the time being recognised under this section is in this Part referred to as a recognised bank. |