12. Act to have overriding effect.—The provisions of this Act shall have effect notwithstanding
anything inconsistent therewith contained in any other law for the time being in force or in any instrument
having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal or
other authority.
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13. Protection of action taken in good faith.—(1) No suit, prosecution or other legal proceeding
shall lie against the Central Government or any officer of that Government or the State Government, or
the co-operative bank or any officer of the State Government or the co-operative bank or other person
authorised by the Central Government or the State Government or the co-operative bank, for anything
which is in good faith done or intended to be done under this Act.
(2) No suit or other legal proceeding shall lie against the Central Government or any officer or other
employee of that Government or the State Government or the co-operative bank or any officer or other
employee of the State Government or of the co-operative bank or other person authorised by the State
Government or the co-operative bank, for any damage caused or likely to be caused by anything which is
in good faith done or intended to be done under this Act.
14. Penalties.—Any person who,—
(a) having in his possession, custody or control any property forming part of the undertakings of
the Sikkim Bank, wrongfully withholds such property from the Central Government, or the State
Government or the co-operative bank; or
(b) wrongfully obtains possession of, or retains, any property forming part of any undertaking of
the Sikkim Bank or wilfully withholds or fails to furnish to the Central Government or the State
Government or the co-operative bank, or any person or body of persons specified by that Government
or the State Government or the co-operative bank, any document relating to such undertaking which
may be in his possession, custody or control or fails to deliver to the Central Government, or the State
Government or the co-operative bank or any person or body of persons specified by the Central
Government or the State Government or the co-operative bank, any assets, books of account, registers
or other documents in his possession, custody or control, relating to the undertakings of the Sikkim
Bank; or
(c) wrongfully removes or destroys any property forming part of any undertaking of the Sikkim
Bank or prefers any claim under this Act which he knows or has reasonable cause to believe to be
false or grossly inaccurate,
shall be punishable with imprisonment for a term which may extend to two years, or with fine which may
extend to ten thousand rupees, or with both.
15. Offences by companies.—(1) Where an offence under this Act has been committed by a
company, every person who at the time the offence was committed was in charge of, and was responsible
to, the company for the conduct of the business of the company, as well as the company, shall be deemed
to be guilty of the offence and shall be liable to be proceeded against any punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any
punishment, if he proves that the offence was committed without his knowledge or that he had exercised
all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been
committed by a company and it is proved that the offence has been committed with the consent or
connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other
officer of the company, such director, manager, secretary, or other officer shall be deemed to be guilty of
that offence and shall be liable to be proceeded against and punished accordingly.
Explanation.—For the purposes of this section,—
(a) “company” means anybody corporate and includes a firm or other association of individuals;
and
(b) “director”, in relation to a firm, means a partner in the firm.
16. Delegation of powers.—(1) The Central Government may, by notification, direct that all or any
of the powers exercisable by it under this Act, other than the powers conferred by sections 17 and 18, may
also be exercised by such person or persons as may be specified in the notification.
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(2) Whenever any delegation of power is made under sub-section (1), the person to whom such power
has been delegated shall act under the direction, control and supervision of the Central Government.
17. Power of Central Government to make rules.—(1) The Central Government may, by
notification, make rules for carrying out the provisions of this Act.
(2) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it
is made, before each House of Parliament, while it is in session, for a total period of thirty days which
may be comprised in one session or in two or more successive sessions, and if, before the expiry of the
session immediately following the session or the successive sessions aforesaid, both Houses agree in
making any modification in the rule or both Houses agree that the rule should not be made, the rule shall
thereafter have effect only in such modified from or be of no effect, as the case may be; so, however, that
any such modification or annulment shall be without prejudice to the validity of anything previously done
under that rule.
18. Power to remove difficulties.—If any difficulty arises in giving effect to the provisions of this
Act, the Central Government may, by order, not inconsistent with the provisions of this Act, remove the
difficulty:
Provided that no such order shall be made after the expiry of a period of two years from the appointed
day.
19. References to Sikkim Bank in other laws.—On and from the appointed day, any reference to
Sikkim Bank in any law (other than this Act or the State Bank of Sikkim Proclamation, 1968)or in any
contract or other instrument shall, except as otherwise provided in any general or special order made by
the Central Government, be deemed to be a reference to the co-operative bank.
20. Dissolution of Sikkim Bank.—On the date of the issue of notification under sub-section (1) of
section 6, the Sikkim Bank shall stand dissolved, and the State Bank of Sikkim Proclamation, 1968, shall
stand repealed; and the provisions of section 6 of the General Clauses Act, 1897 (10 of 1897), shall apply to such repeal as if the said Proclamation were a Central Act.