The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997

15 sections.

Official Hindi (PDF) ↗

• Section 1 — Short title and commencement.
• Section 2 — Definitions.
• Section 3 — Undertakings of the Reconstruction Bank to vest in company.
• Section 4 — General effect of vesting of undertaking in Company.
• Section 5 — Provisions in respect of officers and other employees of Reconstruction Bank.
• Section 6 — Concession, etc., to be deemed to have been granted to Company.
• Section 7 — Tax exemption or benefit to continue to have effect.
• Section 8 — Guarantee to be operative.
• Section 9 — Arrangement with Company on appointment of directors to prevail.
• Section 10 — Act 18 of 1891 to apply to the books of Company.
• Section 11 — Shares, bonds and debentures to be deemed to be approved securities.
• Section 12 — Substitution in Act, rules or regulations of company in place of the Reconstruction Bank.
• Section 13 — Repeal and saving of Act 62 of 1984.
• Section 14 — Repealed.
• Section 15 — Repeal and Saving.