THE MAHARASHTRA DEBT RELIEF (RETROSPECTIVE   EXTEN­SION OF DURATION OF CERTAIN CHAPTERS) ACT, 1987

MAHARASHTRA ACT NO. 1 OF 1988

(First published, after having received the assent of the President, in the "Maharashtra Government Gazette" on the 15th January, 1988.)

An Act further to extend the duration of Chapters IV and V of the Maharashtra Debt Relief Act, 1975

WHEREAS the duration of Chapters IV and V of the Maharashtra Debt Relief Act, 1975, which was extended from time to time having expired on the 21st Aug., 87, it is expedient to extend it further with retrospective effect, for the purposes hereinafter appearin ; It is hereby enacted in the Thirty-eighth Year of the Republic of India as follows :—

SECTION 01: SHORT TITLE AND COMMENCEMENT

(1)  This Act may be called the Maharashtra Debt Relief (Retrospective   Exten­sion of Duration of certain Chapters) Act, 1987.

(2) It shall be deemed to have come into force on the 21st August, 1987.

SECTION 02: AMENDMENT OF SECTION 14A OF MAH. III OF 1976

In section 14A of the Maharashtra Debt Relief Act, 1975 (hereinafter referred to as "the principal Act"), for the words, figures and letters "ending on, and inclusive of, the 21st August, 1985" the words, figures and letters ''ending on, and inclusive of, the 21st August, 1989" shall be substituted.

SECTION 03: CONSEQUENCES OF RETROSPECTIVE AMENDMENT

(1) It is hereby declared that Chapters IV and V of the principal Act, which were to expire on 21st August, 1987, having been retrospectively extended by this Act from that date up to and inclusive of the 21st August, 1989, with power to the State Government to extend their duration further for a period, not exceeding two years, by notification in the Official Gazette, shall not be deemed to have expired at any time, and all their provisions as amended by this Act shall be deemed to be valid, effective and continuously in force.