Industrial Development Bank (Transfer of Undertaking and Repeal) Act : Repeal and saving of Act 18 of

Industrial Development Bank (Transfer of Undertaking and Repeal) Act,2003

Act No : 53

Section : Repeal and saving of Act 18 of 1964.

15. Repeal and saving of Act 18 of 1964.-(1) On the appointed day, the Industrial Development Bank of India Act, 1964, shall stand repealed.(2) Notwithstanding the repeal of the Industrial Development Bank of India Act, 1964, the provisions of section 30A of the Act so repealed will continue to be applicable in respect of the arrangement entered into by the Development Bank with an industrial concern up to the appointed day and the Company will be entitled to act upon and enforce the same as fully and effectually as if this Act has not been enacted.