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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


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