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The Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980

[Act No. 67 of 1980]

[27th December, 1980.]

Contents
Title Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980
Sections Particulars
Chapter I Preliminary
1. Short title and commencement
2. Definitions
Chapter II Acquisition and Transfer of The Undertakings of The Company and of Shares Held by The Company in The Specified Companies
3. Transfer to, and vesting in, the Central Government of the undertakings of the Company
4. Transfer and vesting of shares held by the Company in the specified companies
5. General effect of vesting
6. Central Government or the Government company not to liable for certain prior liabilities
7. Power of Central Government to direct vesting of the undertakings of the Company in a Government company
Chapter III Payment of Amounts
8. Payment of amounts to the Company and specified companies
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 undertakings of the Company to deliver all assets, etc.
Chapter V Provision Relating to Employees of The Company
11. Continuance of employees
12. Provident fund and other funds
Chapter VI Commissioner of Payments
13. Appointment of Commissioner of Payments
14. Payment by Central Government to the Commissioner
15. Certain powers of Central Government or Government company
16. Claims to be made to the Commissioner
17. Priority of claims
18. Examination of claims
19. Admission or rejection of claims
20. Disbursement of money by Commissioner to claimants
21. Disbursement of amounts to the Company and possession of certain machinery, equipment, etc.
22. Undisbursed or unclaimed amount to be deposited to the general revenue account
Chapter VII Miscellaneous
23. Act to have overriding effect
24. Contracts to cease to have effect unless ratified by the Central Government or Government company
25. Penalties
26. Offences by companies
27. Protection of action taken in good faith
28. Delegation of powers
29. Power to make rules
30. Power to remove difficulties
31. Repeal and saving
The Schedule
Schedule 1 [See section 2 (g)]
Schedule 2 Order of Priorities for The Discharge of Liabilities of The Company


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