to relief undertaking That State Government may, if it is satisfied that it is necessary or expedient so to do for the purposes specified in section 3, direct, by notification , (a) that in relation to any relief undertaking all or any of the enactments specified in the Schedule to this Act shall not apply or shall apply with such adaptations whether by way of modification, addition or commission (which does not, however affect the policy of the said enactments), as may be specified in such notification, or (b) that the operation of all or any of the contracts, assurances of property, agree ments, settlements, awards, standing orders or other instruments, in force (to which any relief undertaking is a party or which may be applicable to any relief undertaking) immedi ately before the date on which the State industrial undertaking is declared to be a relief undertaking, shall remain suspended or that all or any of the rights, privileges, obligations and liabilities accruing or aris ing thereunder before the said date, shall remain suspended or shall be enforceable with such modifications and in such manner as may be specified in such notification.