The Industrial Development Bank (Transfer of Undertaking and Repeal) Act

Concession, etc., to be deemed to have been granted to Company

Tax exemption or benefit to continue to have effect

Guarantee to be operative

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

Act to have overriding effect

Application of other laws not barred

Amendment to certain enactments

Substitution in Acts, rules, regulations or notifications by Company in place of Development  Bank

Power to remove difficulties

Repeal and saving of Act 18 of 1964


MISCELLANEOUS


With effect from the
appointed day, all fiscal and other concessions, licences, benefits, privileges and exemptions granted to
the Development Bank, in connection with the affairs and business of the Development Bank under any
law for the time being in force shall be deemed to have been granted to the Company.

LAWGIST

# 6 Concession, etc., to be deemed to have been granted to Company