S.1 Short title and commencement

       (1) This Act may be called the Sick Industrial Companies (Special Provisions) Repeal Act, 2003.
       (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

S.2 Definitions

       In this Act, unless the context otherwise requires,--
       (a) "Appellate Authority" means the Appellate Authority for Industrial and Financial Reconstruction constituted under section 5 of the Sick Industrial Companies (Special Provisions) Act, 1985(1 of 1986);
       (b) "Board" means the Board for Industrial and Financial Reconstruction established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985(1 of 1986);
       (c) words and expressions used herein and not defined but defined in the Sick Industrial Companies (Special Provisions) Act, 1985(1 of 1986), shall have the meanings respectively assigned to them in that Act.

S.3 Repeal of Act 1 of 1986 and dissolution of Appellate Authority and Board

The Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as the repealed enactment) is hereby repealed and the Appellate Authority and the Board stand dissolved.

S.4 Consequential provisions

       On the dissolution of the Appellate Authority and the Board,--
       (a) (i) the persons appointed as Chairman and Member of the Appellate Authority or the Board; and
       (ii) every other person appointed by the Central Government, Appellate Authority or the Board,
       and holding office as such immediately before the commencement of this Act, shall vacate his office and no such Chairman, Member or other person shall be entitled to claim any compensation for premature termination of the term of his office or of any contract of service:
       Provided that every officer or employee who has been, immediately before the dissolution of the Appellate Authority or the Board, appointed on deputation basis to the Appellate Authority or the Board, shall stand reverted to his pa

S.5 Saving

       (1) The repeal by this Act of the repealed enactment shall not--
       (a) affect any other enactment in which the repealed enactment has been applied, incorporated or referred to;
       (b) affect the previous operation of the repealed enactment or anything duly done or suffered thereunder;
       (c) affect any right, privilege, obligation or liability acquired, accrued, or incurred under the repealed enactment;
       (d) affect any order made by the Board for sanction of the schemes;
       (e) affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred or any remedy or proceeding in respect thereof or any release or d

S.6 Power to make rules

       (1) The Central Government may, by notification, make rules for carrying out the provisions of this Act.
       (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:--
       (a) the manner in which the monies standing to the credit of provident fund, superannuation, welfare or other fund of officers and employees on their transfer to the Central Government, shall be dealt with by that Government under the fourth proviso to clause (a) of section 4;
       (b) any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules.
       (3) Every rule made under this Act shall be laid, as soon as may be after it is made, before each Hou