Repeal of RBI directions on securities: directions annulled on notification while actions taken under them remain valid. The amendment removes the word 'securities' from the provision and inserts a proviso that, upon notification by the Central Government, any direction issued under Chapter IIID in respect of a security shall stand repealed, while any action taken pursuant to such direction shall be deemed and continued to be valid, thereby annulling directions on notification but preserving past acts performed under them.
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Provisions expressly mentioned in the judgment/order text.
Repeal of RBI directions on securities: directions annulled on notification while actions taken under them remain valid.
The amendment removes the word "securities" from the provision and inserts a proviso that, upon notification by the Central Government, any direction issued under Chapter IIID in respect of a security shall stand repealed, while any action taken pursuant to such direction shall be deemed and continued to be valid, thereby annulling directions on notification but preserving past acts performed under them.
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