(2)[ Nothing contained in the foregoing provisions of this section shall apply to-(a)any loan made-(i)by a holding company to its subsidiary; or[* * *](iii)[ by a banking company, or an insurance company, in the ordinary course of its business; [or] [ Substituted by Act 31 of 1965, Section 46, for sub-Clause (iii) (w.e.f. 1.4.1967).](iv)[ by a private company, unless it is a subsidiary of a public company; [or] [ Substituted by Act 31 of 1965, Section 46, for sub-Clause (iii) (w.e.f. 1.4.1967).](v)[ by a company, established with the object of financing industrial enterprises;] [ Substituted by Act 31 of 1965, Section 46, for sub-Clause (iii) (w.e.f. 1.4.1967).](b)any guarantee given or any security provided-(i)by a holding company in respect of any loan made to its subsidiary; or[* * *] [ Provisions relating to managing agent, secretaries and treasurers have cease to have effect by Act 17 of 1969, Section 6 (w.e.f. 3.4.1970).](iii)[ by a banking company, or an insurance company, in the ordinary course of its business; or [ Substituted by Act 34 of 1966, Section 3, for sub-Clause (iii) (w.e.f. 1.4.1967).](iv)by a private company, unless it is a subsidiary of a public company; or(v)by a company established with the object of financing industrial enterprises.]
