22. Trusts not to be entered on the register.- *[No notice of any trust], express, implied or constructive, shall be entered on the register of shareholders of a subsidiary bank or be receivable by it in respect of its shares.
**["Provided that nothing in this section shall apply to a depository in respect of shares held by it as a registered owner on behalf of the beneficial owners.
Explanation.-- For the purposes of section 21 section 21A and this section, the expression "beneficial owner", "depository" and "registered owner" shall have the meanings respectively assigned to them in clauses (a), (e) and (j) of sub-section (1) of section 2 of the Depositories Act, 1996]
*[Substituted by State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007]
**[Inserted by Depositaries Related Laws (Amendment) Act(8 of 1997) Section 8 (w.r.e.f. 15-1-97).]
| 