Power to direct industrial relations and other facilities temporarily for relief undertaking.

(1) Notwithstanding any law, usage, custom, contract, instrument, decree, order, award, submission, settlement, standing order or other provision whatsoever the Government may, by notification, direct that- (a) in relation to any relief undertaking and in respect of the period for which the relief undertaking continues as such under sub-section (2) of section 3- (i) all or any of the laws in the Second Schedule to this Act or any provisions thereof shall not apply or shall, if so directed by the Government, be applied with such modifications, not affecting the policy of the said law, as may be specified in the notification; (ii) all or any of the agreements, settlements, awards or standing orders made under any of the laws in the Second Schedule to this Act, which may be applicable to the undertaking immediately before it was acquired or taken over by the Governnent or before any loan, guarantee or other financial assistance was provided to it, by, or with the approval of the Government, for being run as a relief undertaking, shall be suspended in operation, or shall, if so directed by the Government, be applied with such modifications as may be specified in the notification; (iii) rights, privileges, obligations and liabilities shall be determined and be enforceable in accordance with sub-clauses (i) and (ii) and the notification; (iv) any right, privilege; obligation or liability accrued or incurred before the undertaking was declared a relief undertaking and any remedy for the enforcement thereof shall be suspended and all proceedings relative thereto pending beofore any court, tribunal, officer or authority shall be stayed; (b) the right, privilege, obligation or liability referred to in sub-clause (iv) of clause (a), shall, on the notification ceasing to have force, revive and be enforceable and the proceedings referred to therein shall be continued: Provided that in computing the period of limitation for the enforcement of such right, privilege, obligation or liability, the period during which it was suspended under sub-clause (iv) of clause (a) shall be excluded notwithstanding anything contained in any law for the time being in force. (2) A notification under sub-section (1) shall have effect from such date, not being earlier than the date referred to in sub-section (1) of section 3, as may be specified therein, and the provisions of section 15 of the Telangana General Clauses Act, 1891, shall apply to the power to issue such notification. (3) Nothing in this section shall affect the rights, privileges, obligations and liabilities accruing from or arising out of any contract, agreement, assurance of property, settlement, award, standing order or other instrument in force, decree, judgment or final order of a court to which the Central Government or any institution wholly or partly financed by that Government is a party or with which the Central Government is concerned.