LawgistThe Air Corporations (Transfer of Undertakings and Repeal) Act
5Licences, etc., to be deemed to have been granted to companies
With effect from the appointed day, all licences, permits, quotas and exemptions granted to a corporation in connection with the affairs and business of that corporation under any law for the time being in force, shall be deemed to have been granted to the company in which the undertaking of that corporation has vested.
Download our fully-offline, High speed android app.- Click here
All sections
- 1 Short title and commencement
- 2 Definitions
- 3 Undertakings of corporations to vest in companies
- 4 General effect of vesting of undertakings in the companies
- 5 Licences, etc., to be deemed to have been granted to companies
- 6 Tax exemption or benefit to continue to have effect
- 7 Guarantee to be operative
- 8 Provisions in respect of officers and other employees of corporations
- 9 Power of Central Government to give directions
- 10 Power to remove difficulties
- 11 Repeal of Act 27 of 1953 and cesser of corporations
- 12 Repeal and saving
