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The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984

[Act No. 17 of 1984]

[31st March, 1984.]

Contents
Sections Particulars
Title The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984
Chapter I Preliminary
1. Short title and commencement
2. Definitions
Chapter II Acquiaiton and Transfer of the Undertakings of the two Companies
3. Transfer to, and vesting in, the Central Government of the undertakings of the two companies
4. General effect of vesting
5. Companies to be liable for certain prior liabilities
6. Power of Central Government to direct vesting of the undertakings of the two companies in an existing Government Company
7. Transfer of the undertakings of the two companies from an existing Government company to a new Government company
Chapter III Payment of Amounts
8. Payment of amount
9. Payment of further amounts
Chapter IV Management, Etc., of the Undertakings of the two Companies
10. Management, Etc., of the Undertakings of the two Companies
11. Duty of persons in charge of management of undertakings of the two companies to deliver all assets, etc
12. Duty of persons to account for assets, etc., in their possession
Chapter V Provisions Relating to Employees of the two Companies
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 Central Government or existing, or new, 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 Commissioner
23. Disbursement of amounts to the companies
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 the Central Government or existing, or New, 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. PPower to remove difficulties
33. Repeal and saving
The First Schedule. [See Sections 4 (4), 8 and 16 (1)]
The Second Schedule. Order of Priorities for the Discharge of Liabilities of the two Companies


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