Amendment of section 3, Rajasthan Act No. 14 of 1999

In section 3 of the principal Act, after the existing clause (b) of sub-section (1) and before the existing subsection (2), the following explanation shall be inserted, namely:- “Explanation.-An instrument relating to Corporate Restructuring shall be deemed to relate to a matter or thing done or to be done in the State of Rajasthan where-

1. (i) any property, undertaking, business, asset or interest of the transferor entity is situated in Rajasthan; or
2. (ii) such instrument is received in the State of Rajasthan, notwithstanding that the shares are issued, allotted, cancelled or their consideration is paid outside the State.”