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[Cites 0, Cited by 0] [Section 86(2)] [Section 86] [Entire Act]

State of Gujarat - Subsection

Section 86(2)(iv) in The Gujarat Housing Board Act, 1961

(iv)all debts, liabilities and obligations incurred, including any loans borrowed and debentures issued, by or on behalf of the dissolved Boards and subsiding immediately before the appointed day shall be deemed to have been incurred, borrowed and issued by the new Board in exercise of the powers and functions conferred on it by this Act and shall be subject to the provisions of this Act and any guarantee for repayment of principal or payment of interest given before the appointed day by the State Government in respect of such loans and debentures shall be deemed to be a guarantee given under the relevant provisions of this Act and shall have effect accordingly;