(5)[ Where before the commencement of the Companies (Amendment) Act, 1965 (31 of 1965), any loan, guarantee or security has been made, given or provided by a company which could not have been made, given or provided under this section as amended by that Act, and such loan, guarantee or security is outstanding at such commencement, the company shall, within six months from such commencement, enforce the repayment of the loan made or, as the case may be, revoke the guarantee given or the security provided, notwithstanding any agreement to the contrary:Provided that the aforesaid period of six months may be extended by the Central Government on an application made to it in that behalf by the company.] [ Inserted by Act 31 of 1965, Section 46 (w.e.f. 1.4.1967).]
