Amendment status not verified — confirm the current text below against the official source.
Substituted by Act 20 of 2005 w.e.f. 30.06.1986. (5) Any licence or other instrument granted to the lessor or lessee in relation to the mills which has vested in the Government under section 4, at 1986: KAR. ACT 29] Co-operative Textiles Mills (Acquisition and transfer) 9 any time before the appointed day and in force immediately before that day shall continue to be in force on and after such day in accordance with its tenor in relation to and for the purposes of the mills, and on and from the date of vesting of the mills under section 8 in the Company, the Company shall be deemed to be substituted in such licence or other instrument in place of the lessor or lessee referred to therein as if such licence or other instrument had been granted to the Company and the Company shall hold it for the remainder of the period for which the lessor or lessee would have held it under the terms thereof. (6) If, on the appointed day, any suit, appeal or other proceeding of whatever nature, in relation to any property which has vested in the Government under section 4, instituted or preferred by or against the mills, is pending the same shall not abate, be discontinued or be in any way, prejudicially affected by reason of the transfer of the mills or anything contained in this Act but the suit, appeal or other proceeding may be continued, prosecuted and enforced by or against the Government or, where the mills is directed, under section 8 to vest in the Company, by or against the Company.