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The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997

11. Shares, bonds and debentures to be deemed to be approved securities.-

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 1882) , the Insurance Act, 1938 (4 of 1938) 1***.

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



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