Application of certain enactments, agreements etc. to relief undertaking

The State Government may, if it is satisfied that it is necessary or expedient so to do for the purpose specified in section 3, direct, by notification,

(a) that in relation to any relief undertaking all or any of the enactments specified in the Schedule to this Act shall not apply or shall apply with such adaptations, whether by way of modification, addition or alteration, but without, however, affecting the objectives of the said enactments, as may be specified in such notification; or

(b) that the operation of all or any of the contracts, assurances of property, agreements, settlements, awards, standing orders or other instruments in force (to which any relief undertaking is a party or which may be applicable to any relief undertaking) immediately before the date on which the State industrial undertaking is declared to be a relief undertaking, shall remain suspended or that all or any of the rights, privileges, obligations and liabilities accruing or arising thereunder before the said date, shall remain suspended or shall be enforceable with such modification and in such manner as may be specified in such notification.