Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980
Bare Act · 1980
An Act to provide for the acquisition and transfer of the undertakings of the Bird and Company Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the country and for the acquisition of shares held by the Bird and Company Limited in the specified companies for the purpose of securing to those undertakings the facilities and advantages derived by reason of such shareholding with respect to the operation and functioning of those undertakings and also to enable the Central Government to exercise such control over the affairs of the specified companies as is necessary to ensure that the affairs of those companies are not mismanaged and for matters connected therewith or incidental thereto.
- Act number
- 67 of 1980
- Enacted
- 27 December 1980
- Contents
- 31 sections · 7 chapters
The first 5 sections are free to read. Sign in free to read the rest.
Contents
Chapter I — Preliminary
Chapter II — Acquisition And Transfer Of The Undertakings Of The Company And Of Shares Held By The Company In The Specified Companies
- Section 3 – Transfer to, and vesting in, the Central Government of the undertakings of the Company
- Section 4 – Transfer and vesting of shares held by the Company in the specified companies
- Section 5 – General effect of vesting
- Section 6 – Central Government or the Government company not to liable for certain prior liabilities (preview)
- Section 7 – Power of Central Government to direct vesting of the undertakings of the Company in a Government c ompany (preview)
Chapter III — Payment Of Amounts
Chapter IV
- Section 9 – Management, etc., of the undertakings of the Company (preview)
- Section 10 – Duty of persons in charge of management of undertakings of the Company to deliver all assets, etc (preview)
Chapter V — Provision Relating To Employees Of The Company
- Section 11 – Continuance of employees (preview)
- Section 12 – Provident fund and other funds (preview)
Chapter VI — Commissioner Of Payments
- Section 13 – Appointment of Commissioner of Payments (preview)
- Section 14 – Payment by Central Government to the Commissioner (preview)
- Section 15 – Certain powers of Central Government or Government company (preview)
- Section 16 – Claims to be made to the Commissioner (preview)
- Section 17 – Priority of claims (preview)
- Section 18 – Examination of claims (preview)
- Section 19 – Admission or rejection of claims (preview)
- Section 20 – Disbursement of money by Commissioner to claimants (preview)
- Section 21 – Disbursement of amounts to the Company and possession of certain machinery, equipment, etc (preview)
- Section 22 – Undisbursed or unclaimed amount to be deposited to the general revenue account (preview)
Chapter VII — Miscellaneous
- Section 23 – Act to have overriding effect (preview)
- Section 24 – Contracts to cease to have effect unless ratified by the Central Government or Government company (preview)
- Section 25 – Penalties (preview)
- Section 26 – Offences by companies (preview)
- Section 27 – Protection of action taken in good faith (preview)
- Section 28 – Delegation of powers (preview)
- Section 29 – Power to make rules (preview)
- Section 30 – Power to remove difficulties (preview)
- Section 31 – Repeal and saving (preview)