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

Act Number7
Coming into Force24 Jan 1997
CourtMinistry of Finance
Record Number199707
1
THE INDUSTRIAL RECONSTRUCTION BANK (TRANSFER OF UNDERTAKINGS
AND REPEAL) ACT, 1997
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ARRANGEMENT OF SECTIONS
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CHAPTER I
PRELIMINARY
SECTIONS
1. Short title and commencement.
2. Definitions.
CHAPTER II
TRANSFER AND VESTING OF THE UNDERTAKING OF RECONSTRUCTION BANK IN COMPANY
3. Undertakings of the Reconstruction Bank to vest in company.
4. General effect of vesting of undertaking in Company.
5. Provisions in respect of officers and other employees of Reconstruction Bank.
CHAPTER III
MISCELLANEOUS
6. Concession, etc., to be deemed to have been granted to Company.
7. Tax exemption or benefit to continue to have effect.
8. Guarantee to be operative.
9. Arrangement with Company on appointment of directors to prevail.
10. Act 18 of 1891 to apply to the books of Company.
11. Shares, bonds and debentures to be deemed to be approved securities.
12. Substitution in Act, rules or regulations of company in place of the Reconstruction Bank.
13. Repeal and saving of Act 62 of 1984.
CHAPTER IV
AMENDMENT TO THE INDUSTRIAL RECONSTRATION BANK OF INDIA ACT, 1984
14. [Repealed.]
15. Repeal and Saving.

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