Chapter IV — General Provisions

Section 56: [Omitted.] Declaration as to ownership of registered shares

Reviewed by CA Nikhil Gupta · Last reviewed 18 September 2026

Section 56 is omitted and historically related to declarations concerning ownership of registered shares in RBI's former shareholding structure.

Historical / non-operativeOfficial sources mappedProvision-specific decode

Current legal status

Section 56 is omitted and historically related to declarations concerning ownership of registered shares in RBI's former shareholding structure.

It has no present operative role after the institutional ownership changes reflected in the Act.

Use today: Current RBI ownership/governance questions should be answered from surviving law and official institutional records.

Historical reading note

Historical share registers may require the former section to interpret old declarations.

Illustration. A present beneficial-ownership filing cannot be demanded under omitted Section 56.

Compliance points and common mistakes

Do not decide the issue from the heading alone. Map the facts to the operative words of Section 56 and to each relevant subsection, clause, proviso or explanation shown above.
Keep the statutory question separate from the operational overlay. Current RBI ownership/governance questions should be answered from surviving law and official institutional records.
Do not convert an exception, exemption or discretionary RBI/Government power into an automatic entitlement. Record the authority, conditions and effective date.
Where the provision is historical, omitted or repealed, state that status prominently and do not present it as a current compliance obligation.

Connected provisions and instruments

Section 56 has no universal instrument dependency in this package. Add an RBI circular or direction only when its subject, entity and effective date cover the issue being analysed.

Questions and answers

What is the purpose of Section 56?

[Omitted.] Declaration as to ownership of registered shares: Section 56 is omitted and historically related to declarations concerning ownership of registered shares in RBI's former shareholding structure.

Which statutory limb should be checked first?

Scope - Section 56 is omitted and historically related to declarations concerning ownership of registered shares in RBI's former shareholding structure.

What is the next legal boundary?

Operative limb - It has no present operative role after the institutional ownership changes reflected in the Act.

What record should support the conclusion?

Section 56 file evidence: Historical share registers may require the former section to interpret old declarations.

Primary sources

Source control for Section 56: use the official consolidated RBI Act for the statutory text and footnotes, then separately reconcile any post-Finance Act 2022 amendment, commencement notification or RBI instrument relevant to the event date.