A court is required to determine the meaning of the expression "asset reconstruction company" occurring…
Because "asset reconstruction company" is a term defined in section 2 of the Act, a court construing that expression would first consult section 2, not sections 1, 3 or 5.
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A court is required to determine the meaning of the expression "asset reconstruction company" occurring in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Which provision should it first consult?
Answer and explanation
Correct answer B
Because "asset reconstruction company" is a term defined in section 2 of the Act, a court construing that expression would first consult section 2, not sections 1, 3 or 5.