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Section 5 – THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

 

 

5. Licences etc., to be deemed to have been granted to companies.—

 

With effect from the appointed day, all licences, permits, quotas and exemptions granted to a corporation in connection with the affairs and business of that corporation under any law for the time being in force, shall be deemed to have been granted to the company in which the undertaking of that corporation has vested.

 

Comments

 

All licences, permits, quotas and exemptions which were granted to corporations shall be deemed to have been granted to the company in which such corporation has vested.

 

 

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THE AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994

 

Indian Laws – Bare Acts

 

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