Section 9 in The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993

Title: Act 18 of 1891 to apply to the books of the Company

Description: The Company shall be deemed to be a bank for the purposes of the Bankers Books Evidence Act, 1891.

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 1982), the Insurance Act, 1938 (4 of 1938) 1***. 1. The words and figures "and the Banking Regulation Act, 1949 (10 of 1949) omitted by Act 4 of 2013, s. 17 and The Schedule (w.e.f. 17-1-2013).

Title: Repeal and saving of Act 15 of 1948

Description: (1) On the appointed day, the Industrial Finance Corporation Act, 1948 shall stand repealed. (2) Notwithstanding the repeal of the Industrial Finance Corporation Act, 1948 (15 of 1948), the Company shall, so far as may be, comply with the provisions of sections 33, 34, 34A, 35 and 43 of the Act so repealed for any of the purposes related to the annual accounts of the Corporation.

Title: Repeal and saving

Description: (1) The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Ordinance, 1993 (Ord. 5 of 1993) is hereby repealed. (2) Notwithstanding the repeal of the Industrial Finance Corporation (Transfer of Undertaking and Repeal) Ordinance, 1993 (Ord. 5 of 1993), anything done or any action taken under the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of this Act.

Title: Short title and commencement

Description: (1) This Act may be called the Oil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993. (2) It shall be deemed to have come into force on the 2nd day of July, 1993.

The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993