Tamil Nadu Debt Relief (Amendment) Act, 1986*
| [Tamil Nadu Act No. 51 of 1986] | [18th July, 1986] |
An Act further to amend the Tamil Nadu Debt Relief Act, 1982
Be it enacted by the Legislature of the State of Tamil Nadu in the Thirty-seventh Year of the Republic of India as follows:-
* Received the assent of the Governor on the 11th July, 1986 and published in the Tamil Nadu Government Gazette, Extraordinary, No. 388, dated July 18, 1986.
1. Short title and commencement.- (1) This Act may be called the Tamil Nadu Debt Relief (Amendment) Act, 1986.
(2) It shall be deemed to have come into force on the 23rd day of August, 1985.
2. Amendment of section 5, Tamil Nadu Act 50 of 1982.- In section 5 of the Tamil Nadu Debt Relief Act, 1982 (Tamil Nadu Act 50 of 1982) (hereinafter referred to as the principal Act),-
(1) in sub-section (1), in clause (c),-
(a) for the expression "thirty-six months", the expression "forty-eight months" shall be substituted; and
(b) the proviso thereunder, for the expression "thirty nine months", the expression "fifty-one months" shall be substituted;
(2) in sub-section (3), in clause (a), for the expression "thirty-nine months" the expression "fifty-one months" shall be substituted.
3. Amendment of section 7, Tamil Nadu Act 50 of 1982.- In section 7 of the principal Act,-
(1) in sub-section (1), in Clause (c),-
(a) for the expression "thirty-six months", the expression "forty-eight months" shall be substituted; and
(b) in the proviso thereunder, for the expression "thirty nine months", the expression "fifty-one months" shall be substituted;
(2) in sub-section (3), in clause (a), for the expression "thirty-nine months", the expression "fifty-one months" shall be substituted.
4. Amendment of section 13, Tamil Nadu Act 50 of 1982.- In section 13 of the principal Act, in clause (h), in sub-clause (i),-
(a) for item (L), the following item shall be substituted, namely:-
"(L) the industrial Reconstruction Bank of India established under the Industrial Reconstruction Bank of India Act, 1984 (Central Act 62 of 1984);
(b) after item (N), the following item shall be inserted, namely:-
"(NN) the Export-Import Bank of India established under the Export-Import Bank of India Act, 1981 (Central Act 28 of 1981);".
5. Validation.- Anything done or any action taken by the Tahsildar or by any other authority under the principal Act, at any time on or after the 23rd August, 1985 and before the publication of this Act in the Tamil Nadu Government Gazette, shall, for all purposes, be deemed to be, and to have always been, validly done or taken in accordance with law as if the principal Act, as amended by this Act, had been in force at all material times and it shall not be liable to be questioned in any court of law.