Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978
Bare Act · 1978
An Act to provide for restructuring of the iron and steel companies in the public sector so as to secure better management and greater efficiency in their working and for matters connected therewith or incidental thereto.
- Act number
- 16 of 1978
- Enacted
- 30 April 1978
- Contents
- 27 sections · 7 chapters
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Contents
Chapter I — Preliminary
- Section 1 – Short title and commencement
- Section 2 – Definitions
- Section 3 – “Undertaking”— meaning of
Chapter II — Dissolution, Transfer And Vesting Of Undertakings Of Certain Companies
- Section 4 – Dissolution, transfer and vesting of undertakings of certain companies in Integral Company
- Section 5 – Transfer and vesting of Kiriburu Iron Ore Mines, etc., in Integral Company
- Section 6 – Transfer and vesting of Refractory Plant, etc., in the Bharat Refractories Limited (preview)
- Section 7 – Transfer of immovable properties of Hindustan Steel Limited to Metallurgical and Engineering Consultants (India) Limited (preview)
Chapter III — Transfer Of Shares
- Section 8 – Transfer of shares held by Bokaro Steel Limited to Central Government (preview)
- Section 9 – Transfer of shares held by Integral Company to Central Government (preview)
- Section 10 – Transfer of shares held by Integral Company to Bharat Refractories Limited (preview)
- Section 11 – Transfer of shares held by Central Government to Integral Company (preview)
- Section 13 – Power of Central Government to modify amount of paid-up share capital of Integral Company, etc., and issue of shares (preview)
Sections
Chapter IV — Provisions Relating To Officers And Employees
- Section 14 – Provisions relating to officers and other employees of dissolved companies (preview)
- Section 15 – Provisions relating to officers and employees of transferred units (preview)
- Section 16 – Provisions relating to directors (preview)
- Section 17 – Provision relating to auditors (preview)
- Section 18 – Compensation for transfer not payable (preview)
- Section 19 – Provident Fund (preview)
- Section 20 – Gratuity, welfare and other funds (preview)
Chapter V — Financial Provisions
- Section 21 – Provisions with respect to income-tax and surtax (preview)
- Section 22 – Taxes, fees and other charges not payable (preview)