THE KARNATAKA EXISTING LAWS (CONSTRUCTION OF REFERENCES TO VALUES) ACT, 1957

1. Short title and commencement.- (1) This Act may be called the 1[Karnataka]1 Existing Laws (Construction of References to Values) Act, 1957. (2) It shall come into force on the first day of April, 1957.

2. Interpretation.- In this Act, “existing law” means any Act, Ordinance or regulation having the force of law in the whole or any part of the 1[State of Karnataka]1 relating to any matter with respect to which the 1[Karnataka State]1 Legislature has power to make laws or any notification, rule, order, bye-law, scheme or other instrument issued or made thereunder, other than any enactment, notification, rule or order to which the provisions of sub-section (3) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), are applicable.

3. Construction of references to certain values in existing laws.- In every existing law, all references to any value expressed in annas, pice and pies, shall be construed as references to that value expressed in new coins referred to in sub-section (1) of section 14 of the Indian Coinage Act, 1906 (Central Act III of 1906), converted thereto at the rate specified in sub-section (2) of section 14 of the said Act.