(1)

The State Bank of India (subsidiary Banks) Act, 1959 (38 of 1959) and the State Bank of Hyderabad Act, 1956 (79 of 1956) are hereby repealed.

(2)

Notwithstanding such repeal, anything done or any action taken, including any agreement entered into under the provisions of the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959) by the State Bank of Hyderabad, the State Bank of Bikaner and Jaipur, the State Bank of Mysore, the State Bank of Patiala and the State Bank of Travancore, or under the provisions of the State Bank of Hyderabad Act, 1956 (79 of 1956) by the State Bank of Hyderabad, shall continue to be in force and have effect as if this Act has not been enacted.

(3)

The mention of particulars in sub-section (2) shall not be held to prejudice or affect the general application of section of the General Clauses Act, 1987, with regard to the effect of repeal.

THE FIRST SCHEDULE

(See sections 13 and 14)

PRINCIPLES OF COMPENSATION