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Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Complete Act

Title: Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985

State: Central

Year: 1985

Preamble1 - FUTWAH-ISLAMUR LIGHT RALILWAY LINE (NATIONALISATION) ACT, 1985 Chapter I Section1 - Short title Section2 - Definitions Chapter II Section3 - Transfer to and vesting in the Central Government of the undertaking of the Company Section4 - General effect of vesting Section5 - Owner of the Company to be liable for certain prior liabilities Chapter III Section6 - Payment of amount Section7 - Interest Chapter IV Section8 - Duty of persons in charge of management of the undertakings of the Company to deliver all assets etc. Section9 - Duty of persons to account for assets, etc., in their possession Chapter V Section10 - Employment of certain employees to continue Section11 - Provident fund and other funds Chapter VI Section12 - Act to have overriding effect Section13 - Penalties Section14 - Offences by Companies Section15 - Protection action in good faith Section16 - Delegation of powers Section17 - Power to make rules Section18 - Power to remove difficulties

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Preamble 1

Title: Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985

State: Central

Year: 1985

THE FUTWAH-ISLAMUR LIGHT RALILWAY LINE (NATIONALISATION) ACT, 1985 [Act, No. 83 of 1985] [30th December, 1985] PREAMBLE An Act to provide for the acquisition, in the public interest, of the undertakings of the Futwah-islamput Light Railway Company Limited in relation to the Futwah-Islampur Light Railway Company Limited are in a dilapidated condition; WHEREAS the tracks and rolling stock of the Futwah-Islampur Light ; Railway Line owned by the Futwah-Islampur Light Railway Company Limited are in a dilapidated condition, AND WHEREAS the running of trains on the aforesaid line besides being hazardous and uneconomical, is also resulting in heavy loss to the Central Government; AND WHEREAS the aforesaid Company is not in a position to make the assets serviceable for public use; AND WHEREAS it is necessary in the public interest to acquire the undertakings of the said Company in relation to the said railway line; BE it enacted by Parliament in the Thirty-sixth Year of the Republic of India as follows:-

Futwah Islampur Light Railway Line (Nationalisation) Act, 1985 Complete Act

State: Central

Year: 1985

.....used herein and rot defined but defined in the Companies Act, 1956 (1 of 1956)-shall have the meanings respectively assigned to them in that Act. SECTION 03: TRANSFER TO, AND VESTING IN, THE CENTRAL GOVERNMENT OF THE UNDERTAKINGS OF THE COMPANY -On the appointed day, the undertakings of the Company and the right, title and interest of the Company in relation to such undertakings shall, by virtue of this Act, stand transferred to, and vest in, the Central Government. SECTION 04: GENERAL EFFECT OF VESTING (1) The undertakings of the Company shall be deemed to include all assets, rights, lease-holds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, cheques, demand drafts, reserve funds, investments, book debts and all other rights and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the Company, whether within or outside India, and all books of account, registers and all other documents of whatever nature relating thereto. (2) All properties.....

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Chapter I

Title: Preliminary

State: Central

Year: 1985

This Act may be called the Futwah-Islampur Light Railway Line (Nationalisation) Act, 1985. Section 2 - Definitions In this Act, unless the context otherwise requires,- (a) "appointed day" means the day on which this Act comes into force; (b) "Company" means the Futwah-Islampur Light Railway Company Limited being a company as defined in the Companies Act, 1956 (1 of 1956)and having its registered office at 12, Mission Row, Calcutta; (c) " notification' means a notification published in the Official Gazette; (d) "undertakings", in relation to the Company, means the Futwah-Islampur Light Railway Line and all other undertakings of that Company relating to that Railway Line; (e) wards and expressions used herein and no defined but defined in the Companies Act, 1956 shall have the meanings respectively assigned to them in that Act.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 2

Title: Definitions

State: Central

Year: 1985

In this Act, unless the context otherwise requires,- (a) "appointed day" means the day on which this Act comes into force; (b) "Company" means the Futwah-Islampur Light Railway Company Limited being a company as defined in the Companies Act, 1956 (1 of 1956)and having its registered office at 12, Mission Row, Calcutta; (c) " notification' means a notification published in the Official Gazette; (d) "undertakings", in relation to the Company, means the Futwah-Islampur Light Railway Line and all other undertakings of that Company relating to that Railway Line; (e) wards and expressions used herein and no defined but defined in the Companies Act, 1956 shall have the meanings respectively assigned to them in that Act.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 1

Title: Short Title

State: Central

Year: 1985

This Act may be called the Futwah-Islampur Light Railway Line (Nationalisation) Act, 1985.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 18

Title: Power to Remove Difficulties

State: Central

Year: 1985

If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order, not inconsistent with the provisions of this Act, remove the difficulty: Provided that no such order shall be made after the expiry of a period of two years from the appointed day.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 17

Title: Power to Make Rules

State: Central

Year: 1985

(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) In Particular and with prejudice to the generally of the foregoing power such rules may provide the manner in which the monies I any provident fund or other fund under section 11 shall be delta with. (3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, before each House of parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive session aforesaid, both Houses agree in making any modification in the rule or both House agree that the rule should not be made, the rule shall thereafter have effect only in such modification form or be of no effect, as the case may be; so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 16

Title: Delegation of Powers

State: Central

Year: 1985

(1) The Central Government may, by notification direct that all or any of the powers exercisable by it under this Act, other than the powers conferred by this section and sections 17 and 18, may also be exercised by such person or persons as may be specified in the said notification. (2) Whenever any delegation of power is made under sub-section (1), the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 15

Title: Protection Action in Good Faith

State: Central

Year: 1985

(1) No suit, prosecution or other legal proceeding shall, like against the Central Government or any officer or other employee of that Government or any officer or other person authorised by that Government for anything which is in good faith done or intended to be done under this Act. (2) No suit or other legal proceeding shall lie against the Central Government or any officer or other employee of that Government or any officer or other person authorised by that Government for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act.