Bank of Madras Act, 1843, 9 of 1843 (Rep., Act 5 of 1862)

Section XXVI. And it is hereby enacted, that no person who shall hold the Officer of Secretary, Treasurer, Head Ac

Repealed or not in force · As amended up to 2026-08

XXVI. And it is hereby enacted, that no person who shall hold the Officer of Secretary, Treasurer, Head Accountant, or Head Shroff of the Bank of Madras, shall engage in any other Commercial business, either on his own account, or as Agent for any other person or persons, or act as a Broker for the sale or purchase of Government Securities, and that every person appointed to any one or more of the said Offices shall give security to the Directors for the faithful discharge of his duty in the sum of 50,000 Rupees.

Source: India Code