Section 5
Licences, etc., to be deemed to have been granted to Corporation.
The Oil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993
About this Act
An Act to provide for the transfer and vesting of the undertaking of the Oil and Natural Gas Commission to and in the Oil and Natural Gas Corporation Limited, a company incorporated under the Companies Act, 1956, and for matters connected therewith or incidental thereto and also to repeal the Oil and Natural Gas Commission Act, 1959.
With effect from the
appointed day, all licences, leases, concessions, permits, quotas, benefits, privileges and exemptions
granted to the Commission in connection with the affairs of the Commission under any law for the time
being in force, shall be deemed to have been granted to the Corporation.