The Karnataka Existing Laws (Construction of References to Values) Act, 1957

(1) This Act may be called the Karnataka Existing Laws (Construction of References to Values) Act, 1957. (2) It shall come into force on the first day of April, 1957.

In this Act, “existing law” means any Act, Ordinance or regulation having the force of law in the whole or any part of the State of Karnataka relating to any matter with respect to which the Karnataka State Legislature has power to make laws or any notification, rule, order, bye-law, scheme or other instrument issued or made thereunder, other than any enactment, notification, rule or order to which the provisions of sub-section (3) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), are applicable.

In every existing law, all references to any value expressed in annas, pice and pies, shall be construed as references to that value expressed in new coins referred to in sub-section (1) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), converted thereto at the rate specified in sub-section (2) of section 14 of the said Act. * * * *