Section List

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 NumberTitleActions
1Short title and commencement.
2Definitions.
3Undertakings of the Reconstruction Bank to vest in company.
4General effect of vesting of undertaking in Company.
5Provisions in respect of officers and other employees of Reconstruction Bank.
6Concession, etc., to be deemed to have been granted to Company.
7Tax exemption or benefit to continue to have effect.
8Guarantee to be operative.
9Arrangement with Company on appointment of directors to prevail.
10Act 18 of 1891 to apply to the books of Company.
11Shares, bonds and debentures to be deemed to be approved securities.
12Substitution in Act, rules or regulations of company in place of the Reconstruction Bank.
13Repeal and saving of Act 62 of 1984.
14 Repealed.
15Repeal and Saving.
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