State Financial Corporations Act : Power to transfer rights. Indian Bare Acts :

State Financial Corporations Act,1951

Act No : 63

Section : Power to transfer rights.

6*[7A. Power to transfer rights. The rights and interests of the Financial Corporation (including any other rights incidental thereto) in relation to any loan or advance granted or any amount recoverable by it, may be transferred by the Financial Corporation either in whole or in part, by the execution or issue of any instrument or by transfer of any instrument by endorsement or in any other manner in which the rights and interests in relation to such loan or advance may be law- fully transferred, and the Financial Corporation may, notwithstanding such transfer, act as the trustee for the transferee.] ---------------------------------------------------------------------- 1. Subs. by Act 43 of1985, s. 7. 2. Ins. by Act 52 of 1975, s. 29 (w.e.f. 16-2-1976). 3 Subs. by s. 29, ibid., for "Reserve Bank" (w.e.f. 16-2-1976). 4. Omitted by Act 43 of 1985, s. 7. 5. Added by s. 7, ibid. 6. Ins. by Act 77 of 1972, s. 6. 76