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The Andhra Scientific Company Ltd. (Acquisition and Transfer of Undertakings) Act, 1982

[Act No. 71 of 1982]

[13th November, 1982.]

Contents
Sections Chaptericulars
Title The Andhra Scientific Company Ltd. (Acquisition and Transfer of Undertakings) Act
Chapter I Preliminary
1. Short title and commencement
2. Definitions
Chapter II Acquisition and Transfer of The Undertakings of The Company
3. Transfer to, and vesting in, the Central Government of the undertakings of the Company
4. General effect of vesting
5. Company to be liable for certain prior liabilities
6. Power of Central Government to direct vesting of the undertakings of the Company in a Government company
Chapter III Payment of Amounts
7. Payment of amount
8. Payment of further amounts
Chapter IV Management, Etc., of The Undertakings of The Company
9. Management, etc., of the undertakings of the Company
10. Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc
11. Duty of persons to account for assets, etc., in their possession
12. Accounts and audit
Chapter V Provisions Relating to The Employees of The Company
13. Continuance of employees
14. Provident fund and other funds
Chapter VI Commissioner of Payments
15. Appointment of Commissioner of Payments
16. Payment by Central Government to the Commissioner
17. Certain powers of the Central Government or Government company
18. Claims to be made to the Commissioner
19. Priority of claims
20. Examination of claims
21. Admission or rejection of claims
22. Disbursement of money by the Commissioner
23. Disbursement of amounts to the Company
24. Undisbursed or unclaimed amount to be deposited with the general revenue account
Chapter VII Miscellaneous
25. Act to have overriding effect
26. Contracts to cease to have effect unless ratified by Central Government or Government company
27. Penalties
28. Offences by companies
29. Protection of action taken in good faith
30. Delegation of powers
31. Power to make rules
32. Power to remove difficulties
The Schedule Order of Priorities for The Discharge of Liabilities of The Company
Categories Post-Take-Over Management Period


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