Section 34 of The Faridabad Development Corporation Act, 1956
On the establishment of the Corporation under section 3,--
- (a)all action purporting to have been taken, and all transactions purporting to have been made, by or with the body known as the Faridabad Development Board (including any action or transaction by which any property, asset or right was purported to have been acquired or any liability or obligation, whether by contract or otherwise, was purported to have been incurred) shall be deemed to have been validly and lawfully taken or made by or with the Corporation as if this Act were in force and the Corporation were in existence on the day on which such action was taken or transaction was made; and
- (b)in particular, and without prejudice to the generality of the foregoing provision,--
- (i)all property and assets vesting in the body known as the Faridabad Development Board shall vest in the Corporation;
- (ii)all rights, liabilities and obligations of the body known as the Faridabad Development Board, whether arising out of any contract or otherwise, shall be the rights, liabilities and obligations, respectively, of the Corporation; and
- (iii)all leases granted by, all contracts made with, and all instruments executed on behalf of, the body known as the Faridabad Development Board shall be deemed to have been granted by, made with, or executed on behalf of, the Corporation and shall have effect accordingly.
Summary
- Actions and transactions done by or with the old Faridabad Development Board are validated and treated as if they were done by the new Corporation.
- These transactions are treated as valid and lawful, even if they happened before the Act was in force or before the Corporation existed.
- All assets, property, rights, liabilities, and obligations of the old Board automatically transfer to and vest in the new Corporation.
- All leases, contracts, and instruments of the old Board are treated as though they were made by or with the new Corporation.
Practical examples
FAQ
1. What body's actions are validated by Section 34?
The actions and transactions of the "Faridabad Development Board" are validated.
2. What happens to the contracts made by the old Faridabad Development Board?
They are deemed to have been made with the new Corporation and remain fully effective.
3. When does this validation and transfer take effect?
It takes effect immediately upon the establishment of the Corporation under Section 3 of the Act.
4. What happens to the debts or liabilities of the old Board?
All liabilities and obligations of the old Board become the liabilities and obligations of the new Corporation.
Test yourself
Q1.Under Section 34 of The Faridabad Development Corporation Act, 1956, what happens to the property and assets of the Faridabad Development Board upon the establishment of the Corporation?
Q2.How does Section 34 of The Faridabad Development Corporation Act, 1956 handle transactions that occurred before the Corporation actually existed?
Q3.Which section of The Faridabad Development Corporation Act, 1956 is directly cross-referenced in Section 34 to mark the starting point of these validations?
Q4.What is the status of a lease granted by the Faridabad Development Board before the Corporation was created, according to Section 34 of The Faridabad Development Corporation Act, 1956?