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The Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978

[Act No.16 of 1978]

[30th April, 1978.]

Contents
Sections Particulars
Title The Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978
Chapter I Preliminary
1. Short title and commencement
2. Definitions
3. Undertaking- meaning of
Chapter II Dissolution, Transfer and Vesting of Undertakings of Certain Companies
4. Dissolution, transfer and vesting of undertakings of certain companies in Integral Company
5. Transfer and vesting of Kiriburu Iron Ore Mines, etc., in Integral Company
6. Transfer and vesting of Refractory Plant, etc., in the Bharat Refractories Limited
7. Transfer of immovable properties of Hindustan Steel Limited to Metallurgical and Engineering Consultants (India) Limited
Chapter III Transfer of Shares
8. Transfer of shares held by Bokaro Steel Limited to Central Government
9. Transfer of shares held by Integral Company to Central Government
10. Transfer of shares held by Integral Company to Bharat Refractories Limited
11. Transfer of shares held by Central Government to Integral Company
12. Central Government, etc., deemed to be registered in the register of members of companies
13. Power of Central Government to modify amount of paid-up share capital of Integral Company, etc., and issue of shares
Chapter IV Provisions Relating to Officers and Employees
14. Provisions relating to officers and other employees of dissolved companies
15. Provisions relating to officers and employees of transferred units
16. Provisions relating to directors
17. Provision relating to auditors
18. Compensation for transfer not payable
19. Provident Fund
20. Gratuity, welfare and other funds
Chapter V Financial Provisions
21. Provisions with respect to income-tax and surtax
22. Taxes, fees and other charges not payable
Chapter VI Miscellaneous
23. Saving of contracts, etc
24. Saving of legal proceedings
25. Power to remove difficulties
26. Act to override the provisions of other laws
27. Power to amend memorandum and articles of association
The Schedules
Schedule I [See Sections 2(1) (D) and 4]
Schedule II [See Section 9]


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