Act Number: 7

Act Name: The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997

Year: 1997

Enactment Date: 1997-03-19

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 12: Substitution in Act, rules or regulations of company in place of the Reconstruction Bank.
    In every Act, rule or regulation in force on the appointed day,--
         (a) for the words "Industrial Reconstruction Bank of India", wherever they occur, the words "Industrial Investment Bank of India Limited" shall be substituted;
         (b) for the words "Reconstruction Bank", wherever they occur, the words "Industrial Investment Bank" shall be substituted.
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