' § ta section $ of the bank nationalisation act— (@) in sub-section (2), in clause (a), the words, "so however that the paid-up capital of any such bank shall not be in excess of rupees one thousand five hundred crores" shall be ornitted; (ii) for sub-section (3), the following sub-section shall be substi- 5 iuted, namely: - i «(3) every board of directors of a crresponding new bank, constituted under any scheme made under sub-section (1), shall include— (2) not more than two wholetime directors to be appoin- [0 ted by the central government after consultation with the reserve bank; (b) one director who is an official of the central government to be nominated by the central government; (c) one director who is an officer of the reserve bank {5 to be nominated by the central government on the recommendation of the reserve bank; explanation—for the purpose of this clause, 'an officer of the reserve bank" jneludes an officer of the reserve bank who is deputed by that bank under section 20 54aa of the reserve bank of india act, 1934 to any institu- 9 of 1934 tion referred:to therein; (d) ione director, from among such of the eraployees of the 'corresponding new bank who are workmen under clause (s) of section 2 of the industrial disputes act, 1947, 25 140f to be nominated by the central government in such manner 1947 as may be specified in a scheme made under this section; (e) one director, from among the employees of the corresponding new bank, who are not workmen under clause (s) of section 2 of the industrial disputes act, 1947, 30 14 of to be nominated by the central government after consul- 1947 tation with the reserve bank: (f) one director who is a chartered accountant, to pe nominated by the central government after consultation with the reserve bank; 35 (g) subject to the provisions of clause (h), not more than six directors; to be nominated by the central government; (h) where the capital issued under clause (¢) of subsection (2b) of section 3 is,— / (i) not more than twenty per cent of the total 40 paid-up capital, not more than two directors, (i) more than twenty per cent but not more than forty per cent of the total paitl-up capital, not more than four directors, \ : : (iii) more than forty per cent of the total paid-up 45 capital, not more than six directors, hi) to be elected by the shareholders, other than the central government, from amongst themse!ves: provided that on the assumytion of charge after election of any such ditectors under this clause, equal number of directors nominated under clause (g) shall retire in such manner as may be specified in the statement, i (3a) the directors to be nominated under clause (g) of to be elected under clause (h) of sub-clause (3) shall— (a) have special knowledge or practical experience in respect of one or more of the following matters, namely:—~ 10 (i) agricultural and rural economy, (it) banking, (iti) co-operation, (iv) economics, (v) finance, i5 (vi) law, (vit) smali-scale industry, - (viii) any other matter the special knowledge of, and practical experience in, which would, in the opinion of the reserve bank, be useful to the corresponding new 20 bank; ; (b) represent the interests of depositors, of (c) represent the interests of farmers, workers and artisans (3b) where the reserve bank is of the opinion that any director 25 of a corresponding new pank elected under clause (h) of sub-section 30 (2) does not fulfil the requirements of swb-section (ba), it may, after giving (oo such director and the bank a reasonable opportunity of being heard, by an order remove such director and appoint a suitable person as' a member of the board of directors in place ef the person so yemoved whereupon the person £0 appoimtes § 11 be deemed to have been duly elected 'py the shareholders of the cor sponding new bank as a direc- " i tor  7 in section 10 of the bank nationalisation act— 35 amendment of section 10 "shall transfer the balance g) in sub-section (7), for the words "may out of of profits to the central government", the words, its net profits, declare a dividend and retain the surplus, if any," shall be substituted: ral governinserted words "the (i) tn sub-section (7a), after the rank", shall be meni", the words "and to the reserve tnser- 10 of the bank nationalisation act, the following tion of new sec~ tion 10a annual ed to as an has issued capital und genera é 5 i ry corresp s new hank which lee  - : meen on (2b) of section ¢§ pank in each year 3 ghall be held at the place of the head office of ¢ at such time as shall from ume to time be specified by the board of directors: provided that such annual general mesting sball be held pefore the expicy of six weeks from the date on which the balance- [0 sheet, together with the profit and loss account and auditor's report is, under sub-section (7a) of section 10 forwarded to the central government or to the reserve bank, whichever date is earlier (2) the shareholders present at an annual general meeting shall be entitled to discuss tid 'baleince-sheet and nhe profit and loss 15 account of the corresponding new pank rnade up to the previous 31st day of march, the report of the board of directors on the working and activities of the corresponding new bank for the period covered by the accounts and the auditors report on the balance-sheet and accounts" ees arnend- 9 in section 19 of the bank nationalisation act, in sub-section (2), a ment of after clause (b), the following clauses shall be inserted, namely :— : section : 19 "(ba) the nature of shares of the corresponding new bank, the manner in which and the conditions subject to which shares may be held and transferred and génerally all :aatters relating to the 25 a rights and ¢ of shareholders; (bb) the maintenance of register, and the particulars to be entered in the register in addition to those specified in sub-section (2f) of section 3, the safeguards to be observed in the maintenance of régister on computer floppies or diskettes, inspection and closure 30 of the register and all other matters connected therewith; (bc) the manner in which genera] meetings shall be convened, the procedure to be followed thereat and the manner in which voting rights may be exercised; (bd) the holding or meetings of shareholders and the business to be transacted thereat; (be) the manner in which notices may be served on behalf of the corresponding new bank upon shareholders or other persons; ,   : (bf) the manner in which the directors nominated under clause (g), of sub-section (3) of section 9 shall retire" ag!  chapter iii amendment to the banking companies (ac@isaation and transfer of undertakings) act, 198010, in section 2 of the banking companies (acquisition and transfer 40 of 5 of undertakings) act, 1980 {hereafter in this chapter referred to as amendment of section 2, 1980, the bank (second) nationalisation act},— (iy) after clause (d), the following clause shall be inserted, namely: - i '(da) "prescribed" means prescribed by regulations made 10 under this act;'; (ti) after clause (e), the following clause shall be inserted, namely: - i 10of ; "(f) words and expressions used herein and not defined 1949 either in this act or in' the banking regulation act, 1949 but 45 gefined in the companies act, 1956 shall have the meanings log 1956 respectively assigned to them in the companies act, 1956", i in chapter ii of the bank (second) nationalisation act, for the heading "transrer of the undertakings of existing banks", the follow- substitution of heading ing heading shall be substituted, namely: - of chapter if,  20 "transfer of the undertakings of existing banks and share capitals of the corresponding new banks"amendmentof section 3 12 in section 3 of the bank (second) nationalisation act, for subsections (2a) and (3), the following sub-sections shall be substituted, namely :— { 25 (2a), subject to the provisions of this act, the authorised capital of every corresponding new bank shalt be one thousand five hundred craves of rupees divided into one hun dred and fifty crores fully paid-up shares of ten rupees each: provided that the central government may, after consulfstion 30 with the reserve bank ang hy notification in the oficial gazette, merease or reduce the authorised capital as it thinks fit, so however that after such increase o reduction, the authorised capital shall not exceed three thousand crores, or be less than ome thousand five hundred creres, of rupees, 35 (2b) notwithstanding anything contained in sub-section (2), the paid-up eapital of every corresponding new bank constituted under sub-section (1) may from time te time be inereased, by— (b} such amounts as the board ef directors of the eorresponding new bank may, sonsultation with the reserva 40 bank and with th of the central government transfer from the reserve fung established by such bank te such paid-up capitals | (b) such amounts ag the cenival government may, after with the reserve bank, contribute to such paid-up tet e ay e> rrco (c), such amounts as the board of 'directors of the corresponding new bank may, after consultation with the reserve bank and with the previous sanction of the central government, raise by public issue of shares as may be prescribed, so however, that the central government shall at all times, hold not less than fifty-one per cent, of the paid-up capital of 10 each corresponding new bank! ayy 8 da (2c) the entire paid-up capital of a corresponding new bank, except the paid up capital raised by public issue under clause (c) of sub-section (2b), shall stand vested in, and allotted to, the central government 15 (2d) the shares of every corresponding new bank not held by the central government shall be freely transferable (2e) no shareholder of the corresponding new bank, other than the central government, shall be entitled to exercise voting rights in respect of any shares held by hira in excess of one per cent of 20 the total voting rights of all the shareholders of the correspond ing new bank 25 (2f) every corresponding new bank shall keep at its head office books, of the shareholders '@n this adt a register, in one or more itherein ithe following referred to us the register) and shall enter particulars: - (i) the names, addresses and occupations, if any, of the shareholders and a statement of the shares held by each shareholder, distinguishing each share by its denoting number; 30 (i) the date on which each person is so entered as a shareholder; | " (iti) the date on which any person ceases to be a shareholder; and c n (iv) such other particulars as may be prescribed (2g) notwithstanding anything contained in sub-section (2f), 35 jt shall be lawful for every, corresponding new -bank to keep the register in computer floppies or diskettes subject to stich safeguards as may be prescribed (3) notwithstanding anything contained in the indian evidence act, 1872, a copy of, or extract from, the register, certified to be a 40 true copy under the hand of an officer of the corresponding new bank authorised in this behalf by it, shall, in all legal proceedings, pe admissible in evidence" insertion 18, after section 3 of the bank (second) nationalisation act, the following section shall be inserted, namely:— - : | of      | new    ||---------|--------|| section | 3a     || trust   | not    |'3a notwithstanding anything contained in sub-section (2f) to be entered of section 3, no notice of any trust, express, implied! or construc- '5° tive, shall be entered on the register, or be receivable, by the corresponding new bank" , on the register of 14, in section 9 of the bank (second) nationalisation act,— amend ment of section 9, @) in sub-section, (2), in clause (a), the words "so however that the paid-up capital of any such bank shall not be in excess of rupees 10 one thousand five hundred crores' 'shall be omitted; ' : (i) for sub-section (3), the following sub-sediion shall be substituted, namely: - : "(3) every board of directors of a corresponding new bank, constituted under any scheme made under su-section (1), 15 'shall include—  doe (a) not more than two whéle-time directors to be appointed by the central government after consultation with the reserve bank;  : (b) one director who is an official of the central gov- 20 ernment to be nominated: by the central government; (c) one director who is an officeriof the reserve bank to be nominated by the central government on the recommendation of the reserve bank" ~ n explanation—for the purpose of this clause, "an officer 25 of the reserve bank" incltides an officer of the reserve bank who is deputed by the bank under section 54aa of the 2 of 1834 | reserve bank of india act, 1934 to any- institution referred to therein oy (d) one director, from among such of the employees of 30 the corresponding new bank who are workmen under clause (s) of section2 of the industrial disputes act, 1947, 14 of 1947, to be nominated by the central government in such manner as may be specified in a scheme made under this section, (e) one director, from among theemployees of _ the 35 corresponding new bank, who are, not workmen under clause (s) of section 2 of the industrial disputes act, 1947, 14 of 1947 to -be nominated by the central government after consultation with the reserve bank; : (fy one director who is a chartered aecountant to be 40: nominated by the central  government alter consultation with the reserve bank; ! (gq) subject to the provisions of clause (h) not more than six directors, to be nominated by the central government, (hj) where the capital issued under clause (c) of subsection (2b) of section 3 is,— wa @) not more than twenty per cent of the total paid-up capital, not more than two directors, (i) more than twenty per cent, 'but not more than forty per cent of the total paid-up capital, not more than four directors, (ii) more than forty per cent, of the total paid- 19 up capital, not more than six directors, to be elected by the shareholders other than the central government, from amongst themselves: provided that on the assumption of charge after election of any such directors under this clause, equal number of directors 15 nominated under clause (g) shall retire in such manner as may f be specified to the scheme (3a) the directors to be nominated under clause (g) or to be elected under clause (hk) of sub-section (3a) shall— (a) have special knowledge or practical experience in 20 ' respect of one or more of the following matters, namely:— (i) agricultural and rural economy, | (ti)          ||---------------|| fetes         || ii)           || co-operation, || i             || (jv)          || economics,    || =,            || 25            || :             || (v)           || finance,      || a             || (vi)          || law,          || con           || s             |(vii) small-scale industry, " (iti) amy other matter the specia} knowledge of, and practical experience in, which would, in the opinion 38 of the reserve bank, be useful to the corresponding new bank; (b) represent the interests of depositors; or (c) represent the imterests of farmers, workers and artisans { '  35 (3b) where 'the reserve bank is of the opnion that any' director of a corresponding new bank elected under clause (h) of sub-section (3) does not fulfil the requirements of sub-section (3a), it may, after giving to such, director and the bank a reasonable opportunity of being heard, by an order remove such 40 such director and appoint a suitable person as a member of the ao : board of director in place of the person soremoved whereupon : the person so appointed shall be deemed to have been duly elected by the shareholders of the corresponding new hank as a director' 45 in section 10 of the bank (second) nationalisation act— amendment of section 18, g) in sub-section (7), for the words "shall transfer the balance of profits to the central government", the words, "may, out ofits net profits, declare a dividend and retain the surplus, if any" 5 shall be substituted; (ii) in sub-section (74), after the words "the central government", the words "and to the reserve bank" shali be inserted insertion 16, after section 10 of the bank (second) nationalised act, the following section shall be inserted, namely:— ' of new section 102 10 "490a (1) a general meeting (in this act referred to as an annual general meeting) of every corresponding new bank which has annual general meeting igsued capital under clause (c) of sub-section (2b) of section 3 shall be held at the place of the head office of the bank in each year at such time ag shall from time to time be specified by the board of iy wy directors; , provided that such annual general meeting shall be held before the expiry of six weeks from the dateon which the balance-sheet, together with the profit and loss account and auditor's report is, under sub-section (7a) of section 10, forwarded to the central gov- 20 ernment or to the reserve bank, whichever date is earlier  (2) the shareholders present at an annual general meeting shall be entitled to discuss the balance sheet and the profit and loss account of the corresponding new bank made up to the previous 81st day of march, the report of the board of directors on the work- 25 ing and activities of the corresponding new bank for the period covered by the accounts and the auiditor's report on the balancesheet and accounts", 17, in section 19 of the bank (second) nationalisation act, in subsection (2), after clause (b), the following clauses shall be inserted, amendment of section 19,39 namely :— : : "(ba) the nature of shares of the corresponding new bank, the manner in which and the conditions subject to which shares may be held and transferred and generally all matters relating to the rights and duties of shareholders; particulars to be (bb) the maintenance of register, and the wd a entered in the register in addition to those specified in sub-section din: the maintenance - (qf) 'of ection 3, the safeguards to be observe inspection and clesure of register of computer floppies or diskettes, of the register and all other matters connected therewith; 40 (bc) the manner in which gen hal eval meetings shall be convened, hich voting the procedure to be followed thereat and the manner in w rights may | be exercised; ae iderg and the business to (bd) the holding of meetings of shareho be transacted thereat; which notices may be served on behalf of 45 (be) the manner in or other persons: the corresponding new bank upon shareholders s nominated under clatse (bf) the manner in which the director (9) of sub-section (3) of section 9 shall retire;  statement of objects and reasonsfollowing the recommendations of the committee on the financial system (narashimhan committee), the reserve bank of india has laid down certain norms for income recognition and provisioning and also for capital adequacy in relation to risk' weighted assets of banks these norms have been designed to put the -financial uecounting standards of indian banks on a sound footing in line with current internatiehal practice: following the introduction of these norms, all the corresponding new banks as defined in the banking companies (acquisition and transfer of undertakings) act, 1970° and the banking companies (acquisition and transfer of undertakings) act, 1989 (hereafter referred co as the nationalised banks) as well as the state bank of india will have to build up their capital base substantially over the next three years, - all the banks have to ensure that their total capital equal at least 8 per cent of their risk weighted assets by 31st march, 1996 ~the banks having overseas operations will have to achieve this norm by 31st march, 1994 9 'achievement of the prescribed capital adequacy norm is essen- 'tial-for the basic financial health of the banking system it is also - essential: for its' international credibility as banks all over the- world are 'adopting the norm laid down by the committe, on' banking regu- - lations and supervisory practices: set up by the bank of international settlements a 3 at present the entire paid up capital of the nationalised banks stands vested in and-allotted to the central government, - the' central government have been contributing 'to the paid up capital of 'these banks during the last few years during the period 1985-1986 to 1992— 1993, "government have contributed rs 4000 "crores to the paid up éapital of these banks a' sum! of rs, 5700 crotes'has been provided in 'the' current year's budget since resources of the government are limited and funds are required for other priority aréas, it will not be : 'possible for the gevernment to contribute the substantial amounts "new required by the nationalised banks for meeting the new pruden tial horms government: have, therefore,  decided thatthe - "nationa- "lised banks which are in a position todo so may be allowed to approach the capital -market' to": raise fresh» equity to-meet their  shortfall in  capital requirements the additional  capital thus mobilised , will help sthebanksto expand "their 'lending, government, will," however, con tinue to retain majority ownership and, therefore ehtective control in the public sector, banks :,4, in order to give effect to the above decision, it has become 1 necesear to amend the banking _ coripanies (acatiisition © and transfer of ; ndertakings) act, 1970 and 'the banking companies (acquisition" and transfer of undertakings) act, 1980, the proposed amendments,inceralia, provide for the following: - (i) the board of directors of the nationalised banks may, after consultation with the reserve bank of india and with the previous sanction of the central government, raise their paid up capital hy public issue of shares subject to the condition that the central government shall at all times hold not less than 51 per cent of the paid up capital of the bank; : (ii) the authorised capital of every nationalised bank shall be divided into 150 crores fully paid up shares-of rs, 16|- each; (iil) the central government may, after consultation with the réserve bank of india and by notification in the official gazette, increase or reduce the  authorised capital subject to the condition that the authorised capital shall not exceed rs 3000 crores or he less than rs 1500 crores; (iv) the shares of a nationalised bank not held by the central government shall be freely transferable; (v) no shareholder othey than the central government shall be entitled to exercise voting rights in respect of any shares held' by him in excess of one per cent of the total voting rights of all the « shareholders of the bank 5 the bill seeks to achieve the above objects new delhi; the 25th november, 1993 manmohan singh  president's recommendation under article 117 of the constitution of india[copy of letter no 1|5]92-boi, dated 10 december, 1993 from dr abrar ahmed, minister of state in the ministry of finance to the secretary-general, lok sabha] the president, having been informed of the subject matter of the proposed bill further to amend the banking companies (acquisition and transfer of undertakings) act, 1970 and the banking companies (acquisition and transfer of undertakings) act, 1980, recommends under clause (4) of article 117 and clause (3) of article 117 of the constitution of india introduction and consideration of the above bill in lok sabha financial memorandumciause 4 of the bill inter alia contains provisions that the paid-up capital of every corresponding new bank constituted under :ihe banking companies (acquisition and transfer of undertakings) act, 1970 may be increased by such amounts as the central government may after consultation with the reserve bank of india contribute to such capital similar provisions relating to the corresponding new banks constituted under the banking companies (acquisition and transfer of undertakings) act, 1980 are provided in clause 12 of the bill these provisions are already contained in clause (b) of sub-section (2) of section 3 of both the acts, as such no additional expenditure shall be incurred out of the consolidated fund of india on account of the proposed amendments 2 central government "have been contributing to the paid-up capital of the corresponding new banks to increase their capital base during the period 1985-86 to 1992-93, the central government have contributed rs 4,000 crores to the paid-up capital of the banks a sum of rs 5,700 ctores has been provided in the current year's budget 3 the provisions of the bilf do not involve any other expenditure of a recurring or non-recurring nature  memorandum regarding delegated legislationclause 4 of the bill seeks to amend section 3 of the: banking companies (acquisition and transfer of undertakings) act, 1970 (5 of 1970) by substituting sub-ssections (2a) to (2g) and (3) for sub-sections (2a) and (3) clause (c) of sub-section (2b) provides that the board of directors of the corresponding new banks may, after consultation with the reserve bank and with the previous sanction of the central govern- 'ment and subject to the limitations stipulated therein raise the paid-up capital' by public issue of shares in such manner as may be prescribed by regulations clause (iv) of sub-section (2f) provides for prescribing by regulations the particulars to be entered in the book of shareholders besides those specified in clauses (i) to (ili) thereof 2 clause 6 of the bill seeks to amend section 9 of the act, clause (d) of sub-section (3) of section 9, as proposed to be inserted, empowers: the central government to lay down, under the scheme, the manner of nomination of one director representing the workmen: on the board of directors of the corresponding new bank, the proviso to clause (h) of sub-section (3) provides for specifying in the  scheme, the manner of yetirement of directors nominated under clause (g) 3, clause 9 the bill provides for amending section 19 of the act for providing for new matters on which regulations may be made by the board of directors of every corresponding new bank 4, clauses 12, 14 and 17 of the bill seek to make corresponding amendments in the banking companies (acquisition and transfer of undertakings) act, 1980 (40 of 1980) ag those mentioned in paragraphs 1, 2 and 3 respectively in respect of clauses 4, 6 and 9 5 the matters in respect of which schemes may be made by the central government after consultation with the reserve bank or the matters in respect of which regulations may be made by the board of directors of the corresponding new bank after consultation with the reserve bank and with the previous sanction of the central government are matters of administrative detail or procedure, the delegation of legislative power is, therefore, of a normal character  annexureesxtracts from the bangine companies (acquisition and transfer of unpertanines) act, 1970 ,  (5 or 1970)   %  2 in this act, unlessthe context otherwise requires,— definitioss  ' chapter i transfer or the undertakings of existing banks3 ay x :  fy & fs » (2a)y notwithstanding anything contained in sub-section (2), the-paid- "up capitalof every correspon 'ding new bark constituted under sub-section () may from time to time be increased by— : establishment of corresponding new panks and ousiness thereof (a), such amounts as the board of directors of the corresponding new, bank -may,- after consultation with the reserve bank and with the previous sanction of the central government, transfer from the reserve fund established by such bank to such capital; ; (b) such amounts as the central government may, jn consultation with the reserve bank, contribute to such paid-up capital: 7 provided that the paid-up capital of any such bank shall in no ease be in excess of rupees one thousand five hundred crores (3) the entire capital of each corresponding new pank shall stand vested in, and allotted to, the central government  : /  hs  ade 4 eo power of central government (2) in particular, and without prejudice to the generality -of the foregoing power, the'said scheme may provide » for all or any, of the following matters, namely:— to make scheme (a) the capital structure of the corresponding new bank, so however that the paid-up capital of any such bank shall not be in excess of rupees fifteen crores; es ey % a  (3) every board of directors of a corresponding new bank, con stituted under any scheme made under sub-section (1), shall iaclude— (a) representatives of the employees, and of depositors, of such bank, and (b) such other persons as may represent the interests of each of the following categories, namely, farmers, workers and artisans, to be elected or nominated in such manner as may be specified in the schemes ee  : % fa  %  chapter v miscellaneous4g (2)   %   (7) after making provision for bad and doubtiul debts, depreciation closure of accounts and disposal of profits, in assets, contributions to staff and superannuation funds and ali other matters for which provision is necessary under any law, or which are usually provided for by banking companies, a corresponding new bank shall transfer the balance of profits to the central government (74) every corresponding new bank shall furnish to the central goyermfient the annual balance-sheet, the profit and loss account, and the anditor's report and a report by its board of directors on the working and activities of the bank durmg the period covered by the accounts      i ()      power to make regu lations (2) in particular, and without prejudice to the generality of the foregoing power, the regulations may provide for all or any of the following matters, namely:—     ba eximacts from the banking compantes (acquisition ad transfer of unpariranines) act, 1960  (40 of 1980)ba  ea  + % in this act, unless the context otherwise requires,— defina- 4    tions,  chapter if pransfer of the undertaking of existing banks3, (3)  2 &   \ (2a) notwithetanding anything contained in sub-secion (2), ° paid-up capital of every corresponding new bank constituted under cubs section (7) may from time to time be increased by— : establish rnent of corres ponding new banks and business thereof, (a) such amounts as the board of directors of the corresponding new bank may, after consultation with the reserve bank and with the previous sanction of the central government, transfer from the reserve fund established by such bank to such paid up capital; (b) such amounts as the central government may, in consultation vith the reserve bank, contribute to such paid-up capital: provided that the paid-up capital of any such bank shall in no case be _ in excess of rupees one thousand five hondred crores (3)the entire "capital of each corresponding new bank shall stand vested in, and allotted to the central government (4) every corresponding new bank shall be a body corporate wild perpeitial succession and a common seal with power, subject to the provisions of this act, to acquire, hold and dispose of property, and to contract, and may sue and be sued in its name (2) in particular, and without prejudice to the generality of the foregoing power, the said scheme may provide for all or any of the following matters, namely:—  : : power of central government to make scheme (a) the capital structure of the corresponding new bank, so however that the paid-up capital of any such bank shall not be in excess of rupees one thousand five hundred crores,   chapter v miscellaneous 10 ()  closure of (7) after making provision for bad and doubtfal debts, depreciation - accounts and disposal of profits, in assets, contributions to staff and superannuation funds and all other matters for which provision is necessary under any law, or which - are usually provided for by banking companies, a corresponding new bank shall transfer the balance of profits to the central government (7a) every corresponding new bank shall furnish to the central government the annual balance-sheet, the profit and loss account, and the auditor's report and a report by its board of directors on the working and activities of the bank during the period covered by the accounts  19 (ep)power tomake regulations (2) in particular, and without prejudice to the generality of the foregoing power, the regulations may provide for all or any of the following matters, namely:—  : : ps    ok  