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Whether demand notices already sent under the securitisation ordinance(first/second) is saved after the Act ?

April 26, 2017ACT DEMAND notices Ordinance Saved securitisation sent

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Whether demand notices already sent under the securitisation ordinance(first/second) is saved after the Act ?

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Yes. The Act protects the action taken under the corresponding provisions of the Ordinance {Section 42(2)} and is also brought into force w.e.f. 21/06/2002. Henceforth the word ‘Ordinance’ is to be replaced with ‘Act’ wherever appllicable.