Section 38A. Transfer of unpaid or unclaimed 10[money]

9[ 38A. Transfer of unpaid or unclaimed 10[money]. —(1) Where, after the commencement of the State Bank of India (Amendment) Act, 2010 (27 of 2010), a dividend has been declared by the State Bank but which has not been paid to a shareholder or claimed by any shareholder entitled to it, within thirty days from the date of declaration, the State Bank shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid, or unclaimed, to a special account to be named, the "unpaid dividend account" maintained by it. Explanation .—In this sub-section, the expression "dividend which remains unpaid" means any dividend the warrant in respect thereof has not been encashed or which has otherwise not been paid or claimed. (2) Where the whole or any part of any dividend, declared by the State Bank before the commencement of the State Bank of India (Amendment) Act, 2010 (27 of 2010), remains unpaid at such commencement, 1.The words "the Reserve Bank or" omitted by Act 32 of 2007, s. 9 (w.e.f. 29-6-2007). 2.The proviso added by Act 35 of 1964, s. 12 (w.e.f. 1-12-1964). 3. Subs. by Act 32 of 2007, s. 9, for "Reserve Bank" (w.e.f. 29-6-2007). 4. Subs. by s. 9, ibid ., for "paid to that Bank" (w.e.f. 29-6-2007).