Section 9 in The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003
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.
Title: Substitution in Acts, rules, regulations or notifications by Company in place of Development Bank
Description:
In every Act, rule, regulation or notification in force on the appointed day,
(a) for the words "Industrial Development Bank of India", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted;
(b) for the words "Development Bank", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted;
(c) for the words and figures "the Development Bank means the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964 (18 of 1964)", the words, brackets, letter and figures "the Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted.
(d) for the words and figures "the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964 (18 of 1964)", the words, brackets, letter and figures "the Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer or Undertaking and Repeal) Act, 2003" shall be substituted.
