-A subsidiary bank shall cause its books to be closed and balanced [as] [Inserted by Act 48 of 1973, Section 30 (w.e.f. 31-12-1973)] on the thirty-first day of [March] [Substituted [December] by Act 30 of 2007 (w.e.f. 18.6.2007) ] [or such other date in each year as the Central Government may, by notification in the Official Gazette, specify] [Substituted and inserted by Act 66 of 1988, Section 20, for certain words (w.e.f. 30-12-1988)]

[Provided that with a view to facilitating the transition from one period of accounting to another period of accounting under this section, the Central Government may, by order published in the Official Gazette, make such provisions as it considers necessary or expedient for the closing and balancing of, or for other matters relating to, the books in respect of the concerned years.] [Substituted and inserted by Act 66 of 1988, Section 20, for certain words (w.e.f. 30-12-1988)]