Act Info:
PreambleI - AIR CORPORATIONS ACT, 1953
Chapter I Section1 - Short title and commencement
Section2 - Definitions
Chapter II Section3 - Incorporation of the Corporations
Section4 - Constitution of the Corporation
Section5 - Conditions of service of members
Section6 - Vacancy in Corporation not to invalidate proceedings
Section7 - Functions of the Corporation
Section8 - Appointment of officers and other employees of the Corporation
Section9 - Corporations to act on business principles
Chapter III Section10 - Capital of the Corporations
Section11 - Vesting of properties in the Corporation
Section12 - Funds of the Corporation
Section13 - Powers of the Corporations in regard to expenditure
Section14 - Corporations to assume obligations of Central Government in respect of certain matters
Section15 - Accounts and audit
Section15A - Audit of accounts of companies formed by Corporations
Chapter IV Section16 - Undertakings of existing air companies to vest in the Corporations
Section17 - General effect of vesting of undertakings in the Corporations
Section18 - Reservation of scheduled Air transport services to the Corporations
Section19 - Licences to cease to be valid
Section20 - Provisions respecting officers and employees of existing air companies
Section21 - Duty to deliver up possession of property acquired and documents relating thereto
Section22 - Duty of existing air companies to supply particulars
Section23 - Right of Corporations to disclaim certain agreements
Section24 - Transactions resulting in dissipation of assets
Section25 - Compensation to be given for compulsory acquisition of undertaking
Section26 - Constitution of special Tribunal to determine compensation
Section27 - Mode of giving compensation
Section28 - Winding up of existing company whose undertaking has been acquired
Section29 - Authorisation under section 28 may contain certain directions
Chapter V Section30 - Constitution of Air Transport Council
Section31 - Functions of the Air Transport Council
Section32 - Staff of the Council
Section33 - Proceedings of the Council
Chapter VI Section34 - Power of Central Government to give directions
Section35 - Prior approval of Central Government necessary in certain cases
Section36 - Submission of programme of work for each year
Section37 - Submission of Annual Report to Parliament
Chapter VII Section38 - Corporations to act in mutual consultation
Section39 - Transfer of scheduled air transport services or assets from one Corporation to the other
Section40 - Corporations may delegate their powers
Section41 - Advisory and Labour Relations Committees
Section42 - Meetings of the Corporation
Section43 - Penalty for wrongful withholding of property
Section44 - Power to make rules
Section45 - Power of Corporations to make regulations
ScheduleI - SCHEDULE
Repealing Act1 - AIR CORPORATIONS (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1994