(1) Notwithstanding anything contained in the ^Limitation Act, 1963, or in any other law for the time being in force in the Union territory of the Laccadive, Minicoy and Amindivi Islands, if any period of limitation prescribed by the said Act or by such law for any suit, appeal, application or other proceeding' of whatever nature before any court or other authority with respect to any matter arising in the said Union territory expires on any day during the monsoon period, then, In computing the period of limitation for such suit, appeal, application or other proceeding, the period to the extent the said period has fallen within the monsoon period shall be excluded.
Explanation.—For the purposes of this section, "monsoon period" means the period of four months ending on the 15th September.