Clause 186 - Insertion of new section 35A- Repeal and saving - Finance Bill, 2015

Insertion of new section 35A 186. After section 35 of the Securities Act, the following section shall be inserted, namely:-- Repeal and saving. 35A. The Government Securities Act, 2006 (38 of 2006) is hereby repealed: Provided that-- (a) all Government securities issued prior to the date of such repeal shall be deemed to have been issued under Chapter VII of the Finance Act, 2015; (b) anything done or any action taken, before the date of such repeal, in exercise of any power conferred by or under the Government Securities Act, 2006 (38 of 2006) shall be deemed to have been done or taken in exercise of the powers conferred under Chapter VII of the Finance Act, 2015 as if the said Chapter was in force at all material times. .