Retrospective or Prospective?

 the legislation will operate prospectively unless otherwise provided. however, normally in a declaratory or validation legislation a cut of date is prescribed. 

Dear Dr.Tripathi and Sunaina, Thank you very very much indeed. And Sunaina, thank you for the valuable citation.

And what about Remedil statue?

I am sorry ! Madam Sunaina is right. Further, the decision referred above discusses about remedial Act also. it has been held:

"  For modern purposes a declaratory Act may be defined as an Act to remove doubts existing as to the meaning or effect of any statute. Such Acts are usually held to be retrospective. The usual reason for passing a declaratory Act is to set aside what Parliament deems to have been a judicial error, in the interpretation of statutes. Usually, if not invariably, such an Act contains a preamble, and also the word "declared" as well as the word 'enacted' . A remedial Act, on the contrary, is not necessarily retrospective; it may be either enlarging or restraining and it takes effect prospectively, unless it has retrospective effect by express terms or necessary intendment. " (Para 29)