AMENDMENT TO THE INDUSTRIAL RECONSTRATION BANK OF INDIA ACT, 1984Central
Section 14 of The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997
[Insertion of new section 4A].--Rep. by the Repealing and Amending Act, 2001 (30 of 2001), s. 2 and the First schedule (w.e.f. 2-9-2001).
Summary
- This section was later completely repealed, which means cancelled, by a law called the Repealing and Amending Act, 2001.
- This repeal became effective on September 2, 2001.
Practical examples
1In November 2002, a legal researcher named Anil Verma is reviewing the banking laws of India. Anil observes that Section 14, which used to insert Section 4A into the old Act, no longer exists as an active provision because it was officially removed from the books on September 2, 2001, by Act 30 of 2001.
2A company secretary, Priya Nair, is preparing a compliance checklist in October 2005. She notes that she can completely ignore any requirements of Section 14 of the 1997 Act because the Repealing and Amending Act of 2001 has wiped it out, meaning it has no legal effect on her current transactions.
FAQ
1. Which specific parts of the Repealing and Amending Act, 2001 repealed Section 14?
Section 2 and the First Schedule (referred to as Schedule I) of the Repealing and Amending Act, 2001 repealed it.
Test yourself
Q1.What did Section 14 insert into the 1984 Act before being repealed?
Q2.Which Act officially repealed Section 14?
Q3.What is the Act number of the Repealing and Amending Act, 2001?
Q4.On what date did the repeal of Section 14 come into effect?
Q5.Which specific schedule of the Repealing and Amending Act, 2001 repealed Section 14?