Reimbursement of Deposit Insurance Corporation in case of insured Bank.

Where a Co-operative Bank, being an insured bank within the meaning of the Deposit Insurance Corporation Act, 1961 (No. 47 of 1961), is wound up, or taken into liquidation, and the Deposit Insurance Corporation has become liable to the depositors of the insured bank under sub-section (1) of section 16 of that Act, the Deposit Insurance Corporation shall be re-imbursed in the circumstances, to the extent and in the manner provided in section 21 of the Deposit Insurance Corporation Act, 1961 (No.47 of 1961).