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


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) and the Insurance Act, 1938 (4 of1938).


LAWGIST

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