The INDUSTRIAL DEVELOPMENT BANK (TRANSFER OF UNDERTAKING AND REPEAL) ACT, 2003

PRELIMINARY

Section 1 — Short title and commencement.

(1) This Act may be called the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003.

(2) It shall come into force on such date as the Central Government may, by notification, appoint.

Browse all 16 sections
  1. 1.Short title and commencement.
  2. 2.Definitions.
  3. 3.Undertaking of Development Bank to vest in Company.
  4. 4.General effect of transfer and vesting of undertaking.
  5. 5.Provisions in respect of officers and other employees of Development Bank.
  6. 6.Concession, etc., to be deemed to have been granted to Company.
  7. 7.Tax exemption or benefit to continue to have effect.
  8. 8.Guarantee to be operative.
  9. 9.Shares, bonds and debentures to be deemed to be approved securities.
  10. 10.Act to have overriding effect.
  11. 11.Application of other laws not barred.
  12. 12.Amendment to certain enactments.
  13. 13.Substitution in Acts, rules, regulations or notifications by Company in place of Development Bank.
  14. 14.Power to remove difficulties.
  15. 15.Repeal and saving of Act 18 of 1964.
  16. SCH-THE SCHEDULE.THE SCHEDULE