Section 2 – The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act,1972

The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act,1972

Section 2. Definitions

(1) In this Act, unless the context otherwise requires, –

(a) “Appointed day” means such date1 as the Central Government may, by notification, appoint;

(b) “Custodian” means the person who is appointed, under section 10, as the Custodian of the old company;

(c) “Nationalised Bank” means a corresponding new bank as defined in the Banking Companies (Acquisition and Transfer of Undertakings) Act,1970 (5 of 1970);

(d) “New company” means the Government company, formed and registered under the Companies Act,1956, (1 of 1956) in pursuance of the provisions of section 9;

(e) “Notification” means a notification published in the Official Gazette;

(f) “Old company” means the Richardson and Cruddas Limited, a company formed and registered under the Indian Companies Act,1913 (7 of 1913) having its registered office in the State of West Bengal;

(g) “Prescribed” means prescribed by rules made under this Act;

(h) “Scheduled bank” has the meaning assigned to it in the Reserve Bank of India Act,1934, (2 of 1934) and includes a Nationalised Bank;

(i) “Share” means a share in the capital of the old company;

(j) “Tribunal” means the Tribunal constituted under section 13.

(2) Words and expressions used herein and not defined but defined in the Companies Act,1956, (1 of 1956) have, save, as otherwise expressly provided in this Act, the meanings respectively assigned to them in that Act.

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1. 31-3-1973 vide notification No.GSR 165 (e), dated 12th March,1973 see Gazette of India, Extraordinary, Part II, Sec (3) (i) (P) 435

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The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act,1972

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