Karnataka act 012 of 1957 : Karnataka Existing Laws (Construction of References to Values) Act, 1957

THE KARNATAKA EXISTING LAWS (CONSTRUCTION OF REFERENCES TO VALUES)

ACT, 1957.

ARRANGEMENT OF SECTIONS.

Sections :

1. Short title and commencement.

2. Interpretation.

3. Construction of references to certain values in existing laws. * * * *

STATEMENT OF OBJECTS AND REASONS

Act 12 of 1957.—In view of the introduction of new coins (Naye Paise) with effect from 1st April 1957 under the Indian Coinage Act, 1906, it is necessary to provide for the construction of references to annas, pice and pies in existing laws in terms of Naye Paise. Hence this Bill. (Vide Notification No. 20728 L.A. dated 18th March 1957 -File No. LAW 47 LGN 57).

1 [KARNATAKA] 1 ACT No. 12 OF 1957.

(First published in the ¹[Karnataka Gazette]¹ on the First Day of April, 1957.)

THE ¹[KARNATAKA]¹ EXISTING LAWS (CONSTRUCTION OF REFERENCES TO

VALUES) ACT, 1957.

(Received the assent of the Governor on the Thirty-first day of March 1957.) An Act to provide for the construction of references in existing laws to values expressed in annas, pice and pies, in relation to new coins (Naye Paise). WHEREAS it is expedient to provide for the construction of references in existing laws to values expressed in annas, pice and pies, in relation to new coins (Naye Paise); BE it enacted by the¹[Karnataka State]¹Legislature in the Eighth Year of the Republic of India as follows:—

1. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 01.11.1973.

1. Short title and commencement.- (1) This Act may be called the¹[Karnataka]¹ Existing Laws (Construction of References to Values) Act, 1957.

(2) It shall come into force on the first day of April, 1957.

1. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 01.11.1973.

2. Interpretation.- In this Act, "existing law" means any Act, Ordinance or regulation having the force of law in the whole or any part of the¹[State of Karnataka]¹relating to any matter with respect to which the¹[Karnataka State]¹Legislature has power to make laws or any notification, rule, order, bye-law, scheme or other instrument issued or made thereunder, other than any enactment, notification, rule or order to which the provisions of sub-section (3) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), are applicable.

1. Adapted by the Karnataka Adaptations of Laws Order, 1973 w.e.f. 01.11.1973.

3. Construction of references to certain values in existing laws.- In every existing law, all references to any value expressed in annas, pice and pies, shall be construed as references to that value expressed in new coins referred to in sub-section

(1) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), converted thereto at the rate specified in sub-section (2) of section 14 of the said Act. * * * *