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State of Punjab - Section

Section 5 in The Punjab Regulation of Accounts Act, 1930

5. Savings.

- The provisions of this Act shall not apply to any loan advanced before the commencement of this Act :Provided that if any fresh transaction relating to a loan advanced before the commencement of this Act is made after the commencement of this Act is made after the commencement of this Act, such transaction shall be subject to the provisions of this Act.