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Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Complete Act

Title: Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987

State: Central

Year: 1987

.....of claims Section19 - Examination of claims Section20 - Admission or rejection of claims Section21 - Disbursement of money by the Commissioner to claimants Section22 - Disbursement of amounts to the Company Section23 - Undisbursed or unclaimed amount to be deposited to the general revenue account Chapter VII Section24 - Act to have overriding effect Section25 - Contracts to cease to have effect unless ratified by the Central Government or Andrew Yule Section26 - Penalties Section27 - Offences by companies Section28 - Protection of action taken in good faith Section29 - Delegation of powers Section30 - Power to make rules Section31 - Power to remove difficulties Schedule1 - SCHEDULE

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Chapter II

Title: Acquisition and Transfer of the Undertakings of the Company

State: Central

Year: 1987

.....of the Company in relation to its undertakings, which have vested in the Central Government under section 3, shall, instead of continuing to vest in the Central Government vest in Andrew Yule, either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification. (2) Where the right, title and interest, and the liabilities referred to in sub-section (2) of section 5, of the Company in relation to its undertakings vest in Andrew Yule under sub-section (1), Andrew Yule shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertakings and all the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting be deemed to have become the rights and liabilities, respectively, of Andrew Yule.

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Preamble 1

Title: Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987

State: Central

Year: 1987

.....a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture and production of electrical equipments which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto. WHEREAS the Brentford Electric (India) Limited had been engaged in the manufacture and production of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951, (65 of 1951) namely, electrical equipments; AND WHEREAS the management of the undertakings of the Brentford Electric (India) Limited was taken over by the Central Government under section 18AA of the Industries (Development and Regulation) Act, 1951 (65 of 1951); AND WHEREAS it is necessary to acquire the undertakings of the Brentford Electric (India) Limited to ensure that the interests of the general public are served by the continuance, by the undertakings of the Company, of the manufacture and production of the aforesaid articles, which are essential to the needs of the economy of the country; BE it enacted by Parliament in the Thirty-eight Year of the.....

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Section 3

Title: Transfer To, and Vesting In, the Central Government of the Undertakings of the Company

State: Central

Year: 1987

On the appointed day, the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, shall by virtue of this Act, stand transferred to, and vest in, the Central Government.

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act 1987 Complete Act

State: Central

Year: 1987

.....and the order, if any, for payment of the claim, being treated as an order for the refund of revenue, CHAPTER 07: MISCELLANEOUS SECTION 24: ACT TO HAVE OVERRIDING EFFECT - The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act or in any decree or order of any Court, tribunal or other authority. SECTION 25: CONTRACTS TO CEASE TO HAVE EFFECT UNLESS FATIFIED - Every contract entered into by the Company in relation lo its undertaking which has vested in the Central Government under section 3-, for any service, sale or supply and in force immediately before the appointed day, shall, on and from the expiry of a period of one hundred and eighty day from the date on which this Act receives the assent of the President, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government or Andrew Yule in which such undertakings have been vested under this Act, and in ratifying such contract, the Central Government or Andrew Yule may make such.....

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Chapter V

Title: Provisions Relating to the Employees of the Company

State: Central

Year: 1987

.....person employed in any undertaking of the Company, to the Central Government or Andrew Yule shall not entitle such officer or other employee to claim any compensation under this Act or under any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority. Section 13 - Provident fund and other funds (1) Where the Company has established a provident fund, superannuation fund, welfare fund or any other fund for the benefit of the persons employed in any of its undertakings, the moneys relatable to the officers or other employees, whose services have become transferred by or under this Act to the Central Government or Andrew Yule shall, out of the moneys standing, on the appointed day, to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to, and vest in, the Central Government or Andrew Yule, as the case may be. (2) The moneys which stand transferred under sub-section (1) to the Central Government or Andrew Yule, as the case may be, shall be dealt with by that Government or Andrew Yule in such manner, as may be prescribed.

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Section 13

Title: Provident Fund and Other Funds

State: Central

Year: 1987

(1) Where the Company has established a provident fund, superannuation fund, welfare fund or any other fund for the benefit of the persons employed in any of its undertakings, the moneys relatable to the officers or other employees, whose services have become transferred by or under this Act to the Central Government or Andrew Yule shall, out of the moneys standing, on the appointed day, to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to, and vest in, the Central Government or Andrew Yule, as the case may be. (2) The moneys which stand transferred under sub-section (1) to the Central Government or Andrew Yule, as the case may be, shall be dealt with by that Government or Andrew Yule in such manner, as may be prescribed.

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Chapter VI

Title: Commissioner of Payments

State: Central

Year: 1987

.....by that Government or Andrew Yule, after the appointed day, for discharging any liability of the Company, not being any liability specified in sub-section (2) of section 5, in relation to any period prior to the appointed day; and every such claim shall have priority in accordance with the priorities attaching, under this Act, to the matter in relation to which such liability has been discharged by the Central Government or Andrew Yule. (3) Save as otherwise provided in this Act, the liabilities of the Company, in respect of any transaction prior to the appointed day, which have not been discharged on or before the specified date, shall be the liabilities of the Company. Section 17 - Claims to be made to the Commissioner Every person having a claim against the Company with regard to any of the matters specified in the Schedule, pertaining to any of its undertakings, shall prefer such claim before the Commissioner within thirty days from the specified date: Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the said period of thirty days, he may entertain the claim within a further period of.....

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Section 23

Title: Undisbursed or Unclaimed Amount to Be Deposited to the General Revenue Account

State: Central

Year: 1987

Any money paid to the Commissioner which remains undisbursed or unclaimed on the date immediately preceding the date on which the office of the Commissioner is finally wound up, shall be transferred by the Commissioner, before his office is finally wound up, to the general revenue account of the Central Government; but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, and the order, if any, for payment of the claim, being treated as an order for the refund of revenue.

Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987 Chapter III

Title: Payment of Amounts

State: Central

Year: 1987

.....rupees per annum for the period commencing on the date on which the management of the undertakings of the Company was taken over in pursuance of the order made by the Central Government under section 18AA of the Industries (Development and Regulation) Act, 1951, and ending on the appointed day. (2) In consideration of the retrospective operation of the provisions of sections 3, 4 and 5, there shall also be paid by the Central Government to the Company in cash, an amount calculated at the rate of five thousand rupees per annum for the period commencing on the appointed day and ending on the date on which this Act receives the assent of the President. (3) The amounts specified in section 7, and the amounts determined in accordance with the provisions of sub-sections (1)and (2), shall carry simple interest at the rate of four per cent, per annum for the period commencing on the appointed day and ending on the date on which payment of such amounts is made by the Central Government to the Commissioner. (4) The amounts determined in accordance with the provisions of sub-sections (1), (2) and (3) shall be paid by the Central Government to the Company in addition to the amount.....