Act Info:Preamble1 - THE SMITH, STANISTREET AND COMPANY LIMITED(ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1977
Chapter I
Section1 - Short title and commencement
Section2 - Definitions
Chapter II
Section3 - Transfer to and vesting in Central Government of the undertakings of the Company
Section4 - General effect of vesting
Section5 - Central Government or Government company not to be liable for prior liabilities
Section6 - Power of Central Government to direct vesting of the undertakings of the Company in a Government company
Chapter III
Section7 - Payment of amount
Section8 - Payment of further amount
Chapter IV
Section9 - Management, etc., of the undertakings of the Company
Section10 - Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc.
Section11 - Accounts and audit
Chapter V
Section12 - Employment of 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 Commissionerq
Section18 - Priority of claims
Section19 - Examination of claims
Section20 - Admission or rejection of claims
Section21 - Disbursement of money by Commissioner to claimants
Section22 - Disbursement of amounts to the Company
Section23 - Undisbursed or unclaimed amount to be deposited with the general revenue account
Section24 - Assumption of liability
Chapter VII
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 policy of the State
Section34 - Repeal and saving
Schedule1 - SCHEDULE I