Every banking company being a defunct banking
company at the commencement of this Act, by reason of sub-clause (vii) or sub-clause (viii) of clause (f) of section 2 shall, unless it becomes a defunct banking company under any other sub-clause of that clause,
be registered by the Corporation as an insured bank as soon as may be after the termination of the order
moratorium or, as the case may be, the rejection of the application for its winding up.
Chapter III — REGISTRATION OF BANKING COMPANIES AND CO-OPERATIVE BANKS AS INSURED BANKS AND LIABILITY OF CORPORATION TO DEPOITORS