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The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act,1983

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The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act,1983

CONTENTS

Sections

Particulars

1 Short title and commencement
2 Definitions
3 Transfer to, and vesting in, the Central Government of the undertakings of the Company
4 General effect of vesting
5 Central Government or Andrew Yule not to be liable for prior liabilities
6 Power of the Central Government to direct vesting of the undertakings of the Company in Andrew Yule
7 Payment of amount
8 Payment of further amount
9 Management etc., of the undertakings of the Company
10 Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc
11 Duty of persons to account for assets, etc., in their possession
12 Continuance of employees
13 Provident fund and other funds
14 Appointment of Commissioner of Payments
15 Payment by the Central Government to the Commissioner
16 Certain powers of the Central Government or Andrew Yule
17 Claims to be made to the Commissioner
18 Priority of claims
19 Examination of claims
20 Admission or rejection of claims
21 Disbursement of money by the Commissioner to claimants
22 Disbursement of amounts to the Company
23 Undisbursed or unclaimed amount to be deposited to the general revenue account
24 Act to have overriding effect
25 Contracts to cease to have effect unless ratified by the Central Government or Andrew Yule
26 Protection of action taken in good faith
27 Delegation of powers
28 Penalties
29 Offences by companies
30 Power to make rules
31 Power to remove difficulties
32 Repeal and saving
Schedule

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