Under Section 15, all licences, permits, quotas, and exemptions granted to the IAAI or NAA in connection with their affairs under any law shall, from the appointed day:

Section 15 employs a deeming fiction to ensure seamless continuity of regulatory permissions: all licences, permits, quotas, and exemptions previously granted to IAAI or NAA are deemed, without any further formality, re-validation, or fresh application, to have been granted to the Authority itself from the appointed day. This avoids the administrative chaos and legal vacuum that would otherwise result if hundreds of statutory permissions had to be individually re-issued to the newly merged entity. This provision operates independently of, but complements, Section 13's broader vesting of assets and Section 16's continuation of tax benefits.