Section 11 in The Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997
11. Shares, bonds and debentures to be deemed to be approved securities.—
Notwithstanding anything contained in any other law for the time being in force, the shares, bonds and debentures of the Company shall be deemed to be approved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882) and the Insurance Act, 1938 (4 of 1938).
