Section 11
Repeal and saving of Act 15 of 1948.
The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993
About this Act
An Act to provide for the transfer and vesting of the undertaking of the Industrial Finance Corporation of India to and in the Company to be formed and registered as a Company under the Companies Act, 1956, and for matters connected therewith or incidental thereto and also to repeal the Industrial Finance Corporation Act, 1948.
(1) On the appointed day, the Industrial Finance
Corporation Act, 1948 shall stand repealed.
(2) Notwithstanding the repeal of the Industrial Finance Corporation Act, 1948 (15 of 1948), the Company shall, so far as may be, comply with the provisions of sections 33, 34, 34A, 35 and 43 of the Act so repealed for any of the purposes related to the annual accounts of the Corporation.
(2) Notwithstanding the repeal of the Industrial Finance Corporation Act, 1948 (15 of 1948), the Company shall, so far as may be, comply with the provisions of sections 33, 34, 34A, 35 and 43 of the Act so repealed for any of the purposes related to the annual accounts of the Corporation.