Act Info:
Preamble1 - THE BURN COMPANY AND INDIAN STANDARD WAGON COMPANY (NATIONALISATION) ACT, 1976
Chapter I Section1 - Short title and commencement
Section2 - Definitions
Chapter II Section3 - Transfer and vesting in Central Government of the undertakings of the two companies
Section4 - General effect of vesting
Section5 - Owners of the two companies to be liable for certain prior liabilities
Section6 - Power of the Central Government to direct vesting of the undertakings of the two companies in a Government company
Chapter III Section7 - Payment of amount
Section8 - Payment of further amount
Chapter IV Section9 - Management ,etc., undertakings of the two companies
Section10 - Duty of persons in charge of management of the undertakings of the two companies to deliver all assets, etc.
Section11 - Accounts and audit
Chapter V Section12 - Employment of certain employees to continue
Section13 - Provident and other funds
Chapter VI Section14 - Appointment of Commissioner of payments
Section15 - Payment by the Central Government to the Commissioner
Section16 - Certain powers of the Central Government or Government company
Section17 - Claims to be made to the Commissioner
Section18 - Priority of claims
Section19 - Examination of claims
Section20 - Admission or rejection of claims
Section21 - Disbursement of money by Commissioner to claimants
Section22 - Disbursements of amounts to the two companies
Section23 - Undisbursed or unclaimed amount to be deposited with the general revenue account
Chapter VII Section24 - Assumption of liability
Section25 - Act to have overriding effect
Section26 - Contracts to cease to have effect unless ratified by the central Government or Government company
Section27 - Penalties
Section28 - Offences by companies
Section29 - Protection of action taken in good faith
Section30 - Delegation of powers
Section31 - Power to make rules
Section32 - Power to remove difficulties
Section33 - Declaration as to the policy of the state
Section34 - Repeal and saving
Schedule1 - SCHEDULE I
Schedule2 - SCHEDULE II