For sub-section (2) of section 6 of the principal Act, the following sub-section shall be substituted, namely:--
         "(2) Notwithstanding anything contained in section 2, the provisions of sub-section (1) shall apply in the case of any policy of insurance such as is referred to therein which is effected--
             (a) by any Hindu, Muhammad an, Sikh or Jain--
                 (i) in Madras, after the thirty-first day of December, 1913, or
                 (ii) in any other territory to which this Act extended immediately before the commencement of the Married Women's Property (Extension) Act, 1959, after the first day of April, 1923, or
                 (iii) in any territory to which this Act extends on and from the commencement of the Married Women's Property (Extension) Act, 1959, on or after such commencement;
             (b) by a Buddhist in any territory to which this Act extends, on or after the commencement of the Married Women's Property (Extension) Act, 1959:
         Provided that nothing herein contained shall affect any right or liability which has accrued or been incurred under any decree of a competent court passed--
             (i) before the first day of April, 1923, in any case to which sub-clause (i) or sub-clause (ii) of clause (a) applies; or
             (ii) before the commencement of the Married Womens Property (Extension) Act 1959, in any case to which sub-clause (iii) of clause (a) or clause (b) applies..