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

Chapter III — MISCELLANEOUS

Section 11Shares, bonds and debentures to be deemed to be approved securities

Read in the full Act
Section 11: Shares, bonds and debentures to be deemed to be approved securities

11. Shares, bonds and debentures to be deemed to be approved securities

Notwithstanding anything contained in any other law for the time being in force, the shares, bonds and debentures of the Company shall be deemed to be approved securities for the purposes of the Indian, Trusts Act, 1882 (2 of 1882) , the Insurance Act, 1938 (4 of 1938) ***.

Amendment notes (1)
  1. omitted w.e.f. 18-1-2013 . The words and figures "and the Banking Regulation Act, 1949(10 of 1949)" shall be omitted by Act 4 of 2013, s. 17 and the Schedule (w.e.f. 18-1-2013).