Section 119: Effect of inoperativeness of the Securities Ordinance, 2062

With the Securities Ordinance, 2062 being inoperative, unless a different intention appears, the inoperativeness shall not,

(a) Revive anything not in force or existing at the time at which the Ordinance became inoperative,

(b) Affect the matter in operation as per the Ordinance or anything duly done or any punishment suffered there under,

(c) Affect any right, privilege, obligation or liability acquired, accrued or incurred under the Ordinance,

(d) Affect any penalty, punishment or forfeiture incurred under the Ordinance,

(e) Affect any action or remedy made or taken in respect of any such right, privilege, obligation, liability, penalty or punishment as aforesaid, and any such legal proceeding or remedy may be instituted, continued or enforced as if the Ordinance were in force.

Note: Words modified by the Administration of Justice Act, 2073:

“High Court” instead of “Court of Appeal.”

(Updated as of 2081/1/7)