Section 11 in The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993

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Description: (1) On the appointed day, the Industrial Finance Corporation Act, 1948 shall stand repealed.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1948), the Company shall, so far as may be, comply with the provisions of sections 33, 34, 34A, 35 and 43 of the Act so repealed for any of the purposes related to the annual accounts of the Corporation.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(1) The Industrial Finance Corporation (Transfer of Undertaking and Repeal) Ordinance, 1993 (Ord. 5 of 1993) is hereby repealed.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.

Title: Definitions

Description: In this Act, unless the context otherwise requires,-- (a) "appointed day" means such date as the Central Government may, by notification in the Official Gazette, appoint under section 3; (b) "Corporation" means the Oil and Natural Gas Corporation Limited, a company registered under the Companies Act, 1956 (1 of 1956); (c) "Commission" means the Oil and Natural Gas Commission established under sub-section (1) of section 3 of the Oil and Natural Gas Commission Act, 1959 (43 of 1959); (d) "prescribed" means prescribed by rules made under this Act

Title: Undertaking of Commission to vest in Corporation

Description: On such date1 as the Central Government may, by notification in the Official Gazette, appoint, the undertaking of the Commission shall stand transferred to, and vest in, the Corporation. 1. 1st February, 1994, vide notification No. G.S.R. 44(E), dated 28th January 1994, see Gazette of India, Extraordinary, Part I, sec. 3(i)

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