Repeal and savings preserve prior insolvency actions under the amended code despite the ordinance's repeal. The repealed Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 is discontinued, while a savings clause preserves actions already taken under the Insolvency and Bankruptcy Code, 2016 as amended by that Ordinance. Any thing done or action taken under the Code during the Ordinance period is deemed to have been done or taken under the corresponding provisions of the Code as amended by the Insolvency and Bankruptcy Code (Amendment) Act, 2018.
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Repeal and savings preserve prior insolvency actions under the amended code despite the ordinance's repeal.
The repealed Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017 is discontinued, while a savings clause preserves actions already taken under the Insolvency and Bankruptcy Code, 2016 as amended by that Ordinance. Any thing done or action taken under the Code during the Ordinance period is deemed to have been done or taken under the corresponding provisions of the Code as amended by the Insolvency and Bankruptcy Code (Amendment) Act, 2018.
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