The Industrial Finance Corporation Act, 1948
5A. Shares of the Corporation to be deemed to be securities for certain purposes.
Notwithstanding anything contained in the Acts hereinafter mentioned in this section, the shares of the Corporation shall be deemed to be included among the securities enumerated in section 20 of the Indian Trusts Act, 1982, (2 of 1882.) and also deemed to be approved secrities for the purposes of the Insurance Act, 1938, (4 of 1938.) and the Banking Companies Act, 1949 (10 of 1949).]