(1)The Central Government may, by notification in the public interest, direct that any of the provisions of this Act,-
(a) shall not apply to such class or classes of banks or financial institutions; or (b) shall apply to the class or classes of banks or financial institutions with such exceptions, modifications and adaptations, as may be specified in the notification.
**[(2) A copy of every notification proposed to be issued under sub-section (1), shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days, and if, both Houses agree in disapproving the issue of notification or both Houses agree in making any modification in the notification, the notification shall not be issued or, as the case may be, shall be issued only in such modified form as may be agreed upon by both the Houses.
(3) In reckoning any such period of thirty days as is referred to in sub-section (2), no account shall be taken of any period during which the House referred to in sub-section (2) is prorogued or adjourned for more than four consecutive days.
(4) The copies of every notification issued under this section shall, as soon as may be after it has been issued, be laid before each House of Parliament.
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* Ins. by Act 1 of 2013, s. 11 (w.e.f. 15-1-2013).
** Subs. by Act 44 of 2016, s. 23, for sub-section (2) (w.e.f. 1-9-2016).
Section 29 Offences, Section 30 Cognizance of offences
Section 30A Power of adjudicating authority to impose penalty
Section 30B Appeal against penalties, Section 30C Appellate Authority
Section 30D Recovery of penalties
Section 31 Provisions of this Act not to apply in certain cases
Section 31A Power to exempt a class or classes of banks or financial institutions
Section 32 Protection of action taken in good faith
Section 33 Offences by companies
Section Limitation, Section 37 Application of other laws not barred