Notwithstanding anything in the Indian Limitation Act, 1908 (Central Act No.9 of 1908), or any other law for the time being in force, the period of limitation in respect of any suit filed or that may be filed by or on behalf of the Board-
(a) by virtue of sub-section (1) of section 60 of the Electricity (Supply) Act, 1948 (Central Act No. 54 of 1948) for the recovery of any dues which have accrued before the date of the first constitution of the Board shall be, and shall always be deemed to have been six years from the date of the first constitution of the Board;
(b) for the recovery of any dues accruing after the date of the first consti!ution of the Board, sh,1I be and shall always be deemed to have been three years from the time from whicl, the period of limitation began or would begin to run under the said Act against a like suitby a private person or five' years from the date of the first constitution of the Board, whichever period expires later.