Section 3
Undertakings of the Reconstruction Bank to vest in company.
The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997
About this Act
An Act to provide for the transfer and vesting of the undertakings of the Industrial Reconstruction Bank 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 Reconstruction Bank of India Act, 1984.
On such date as the Central
Government may, by notification in the Official Gazette, appoint, there shall be transferred to, and vest
in, the Company, the undertakings of Reconstruction Bank.
Notes
1. 27th March, 1997, vide notification No. S.O. 242(E), dated 25th March, 1997, see Gazette of India, Extraordinary, Part II, sec. 3(ii).