Banking Regulation Act, 1949 — back to Table of Contents
Section 45ZD. Notice of claims of other persons regarding articles not receivable
This section mirrors section 45ZB, but for articles held in safe custody rather than deposits. A banking company is not required to receive, or be bound by, notice of a claim from anyone other than the person who left the article in safe custody — even if such notice is expressly given to it.
The exception, as with deposits, is where a decree, order, certificate or other authority from a court of competent jurisdiction relating to the article is produced before the bank; in that case, the bank must take due note of it.
Note: Part IIIB was inserted by the Banking Companies (Second Amendment) Act, 1960.
