Section 8 in The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003

Title: Guarantee to be operative

Description: Any guarantee given for or in favour of the Development Bank with respect to any loan, lease, finance or other assistance shall continue to be operative in relation to the Company.

Title: Shares, bonds and debentures to be deemed to be approved securities

Description: Notwithstanding anything contained in any other law for the time being in force, the shares, bonds and debentures of the Company shall be deemed to be approved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882) and the Insurance Act, 1938 (4 of1938).

Title: Act to have overriding effect

Description: The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any enactment other than this Act or in any instrument having effect by virtue of any enactment other than this Act.

Title: Application of other laws not barred

Description: The provisions of this Act shall be in addition to, and not in derogation of the provisions of any other law for the time being in force.

Title: Amendment to certain enactments

Description: The enactments specified in the Schedule to this Act shall be amended in the manner provided therein.

CHAPTER 3 MISCELLANEOUS