The Industrial Development Bank of India Act, 1964 (18 of 1964) the Board, with the previous approval of the Central Government, makes the following further amendment to the Industrial Development Bank of India (Issue and Management of Bonds) egulations, 1972, namely

The Gazette of India

EXTRAORDINARY

PART III- Section 4

PUBLISHED BY AUTHORITY

No. 22] NEW DELHI, WEDNESDAY. FEBRUARY 13. 2002/MAGHA 24, 1923

Mumbai, the 13 Hi February, 2002

Industrial Development Bank of India (Issue and Management of Bonds) Amendment Regulations, 2002

RPD/NZO/2002.—In exercise of the powers conferred by sub-section (1) of Section 37 of the Industrial Develop- ment Bank of India Act, 1964 (18 of 1964)^ the Board, with the previous approval of the Central Government, makes the following further amendment to the Industrial Development Bank of India (Issue and Management of Bonds) Regulations, 1972, namely :

1. This regulation may be called the Industrial Development Bank of India (Issue and Management of Bonds) Amendment Regulations, 2002.

2. In the Industrial Development Bank of India (Issue and Management of Bonds) Regulations, 1972, in regulation 21, at the end of sub-regulation (a) the following proviso shall inserted namely ;—

"Provided that the Development Bank may, having regard to the interest of the holder of the Bonds and other relevant factors, make the payment of the amount due on the Bond without requiring its presentment at the office of the Development Bank invoking call option as per the terms of its issue or on maturity."

B. D. USHER, Legal Adviser

[ADVT Hiyrv/135/2002/Exty]Note,—The principal regulations were published in the Gazette of India dated 12-02-1997 and subsequently amended vide: (i) notification dated 12-02-1997. (ii) notification dated 16-06-2000. Primed by the Manager, Oovt of India Press, Ring Road, Mayapuri, New Dclhi-110064 and Published by the Controller of Publications, Delhi-110054.