Amendment status not verified — confirm the current text below against the official source.
Notwithstanding anything contained in the Limitation Act, 1963,— (i) on payment of the amount due on a Board security on or after the date on which payment becomes due, or (ii) when a duplicate Board security has been issued, or (iii) when a new Board security has been issued upon conversion, consolidation or sub-division, the Board shall be discharged from all liabilities in respect of the Board security so paid or, in place of which, a duplicate or a new Board security has been issued,— (a) in the case of payment, after the lapse of six years from the date on which payment was due, (b) in the case of a duplicate Board security, after the lapse of six years from the date of the publication under sub- section (3) of section 56 of the list in which the Board security is first mentioned or fom the date of the last payment of interest on the original Board security, whichever date is later, or (c) in the case of a new Board security issued upon conversion or sub-division, after the lapse of six years from the date of the issue thereof. Issue of converted Board securities etc. Discharge of Board security in tertian cases. 321 The West Bengal Maritime Board Act, 2000. [West Ben. Act (Chapter VIII—Borrowing powers of Board.—Sections 59-62.) Security for loans taken by Board. Remedies for State Government in respect of loans made to Board. Power of Board to repay loans before due date. Establish- ment of sinking fund.