Section 11: Restriction of legal proceedings in respect of shares held in the name of another

(1) Notwithstanding anything contained in any law or in any contract or instrument, no suit or other proceeding shall be maintained against any person registered as the holder of any share in a bank on the ground that the title to the said share vests in any person other than the registered holder.
(2)
Nothing in this section shall bar a suit or other proceeding on behalf of a minor or person suffering from any mental illness on the grounds that the registered holder holds the share on behalf of the minor or person suffering from the mental illness.