The Bengal Chemical and Pharmaceutical works Ltd. (Acquisition and Transfer of Undertakings) Act, 1980
[Act No. 58 of 1980]
[12th December, 1980.]
| Contents |
| Title |
The Bengal Chemical and Pharmaceutical works Ltd. (Acquisition and Transfer of Undertakings) Act, 1980 |
| Sections |
Chaptericulars |
| 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, Central Government of the undertakings of the Company |
| 4. |
General effect of vesting |
| 5. |
Central Government or existing, or new, Government company, not to be liable for certain prior liabilities |
| 6. |
Power of Central Government to direct vesting of the undertakings of the Company in an existing Government company |
| 7. |
Transfer of the undertakings of the Company from an existing Government company to a new Government company |
| Chapter III |
Payment of Amounts |
| 8. |
Payment of amount |
| 9. |
Payment of further amount |
| Chapter IV |
Management, Etc., of The Undertakings of The Company |
| 10. |
Management, etc., of the undertakings of the Company |
| 11. |
Duty of persons in charge of management of undertakings of the Company to deliver all assets, etc |
| 12. |
Accounts to be rendered by the Company or any other person |
| 13. |
Accounts and audit |
| Chapter V |
Provisions Relating to The Employees of The Company |
| 14. |
Employment of certain employees to continue |
| 15. |
Provident fund and other funds |
| Chapter VI |
Commissioner of Payments |
| 16. |
Appointment of Commissioner of Payments |
| 17. |
Payment by Central Government to the Commissioner |
| 18. |
Certain powers of Central Government or existing, or new, Government company |
| 19. |
Claims to be made to the Commissioner |
| 20. |
Priority of claims |
| 21. |
Examination of claims |
| 22. |
Admission or rejection of claims |
| 23. |
Disbursement of money by Commissioner to claimants |
| 24. |
Disbursement of amounts to the company and possession of certain machinery, equipment, etc |
| 25. |
Undisbursed or unclaimed amount to be deposited to the general revenue account |
| Chapter VII |
Miscellaneous |
| 26. |
Act to have overriding effect |
| 27. |
Contracts to cease to have effect unless ratified by the Central Government or existing, or new, Government company |
| 28. |
Penalties |
| 29. |
Offences by companies |
| 30. |
Protection of action taken in good faith |
| 31. |
Delegation of powers |
| 32. |
Power to make rules |
| 33. |
Power to remove difficulties |
| The Schedule |
Order of Priorities for The Discharge of The Liabilities of The Company |
| Part A |
Post-take-over and pre-take-over periods |
| Part B |
Post-take-over period |
| Part C |
Pre-take-over period |
