Bare Act Search Results

Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985 Section 21

Title: Disbursement of Amounts to the Tea Companies

State: Central

Year: 1985

(1) If out of the monies paid to him in relation to a tea company, there is a balance left after meeting the liabilities as specified in the Second Schedule, the Commissioner shall disburse such balance to such tea company. (2) Where the possession of any machinery, equipment or other property possessed by a tea company has vested in the Tea Trading Corporation under this Act but such machinery, equipment or other property does not belong to such tea company, it shall be lawful for that Corporation to continue to possess such machinery or equipment or other property on the same terms and conditions under which they were possessed by such tea company immediately before the appointed day.

Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 Complete Act

State: Central

Year: 1985

.....The provisions of this Act and of any Scheme framed there under shall have effect notwithstanding anything inconsistent therewith contained in any enactment other than this Act or any instrument having effect by virtue of any enactment other than this Act. SECTION 12: REPEAL AND SAVING (1) The Bhopal Gas Leak Disaster (Processing of Claims) Ordinance. 1985. is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act. BHOPAL GAS LEAK DISASTER (REGISTRATION AND PROCESSING OF CLAIMS) SCHEME, 1985 G.S.R. No. 751 (E), dated 24th September, 1985. 1-In exercise of the powers conferred by Sec. 9 of the Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985 (21 of 1985), the Central Government hereby frame the following scheme, namely : SCHEME 01: SHORT TITLE AND COMMENCEMENT (1) This Scheme may be called the Bhopal Gas Leak Disaster (Registration and Processing of Claims) Scheme, 1985. (2) It shall come into force on the date of its publication in the Official Gazette. SCHEME 02: DEFINITIONS -In this Scheme, unless the.....

Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985 Chapter VI

Title: Commissioner of Payments

State: Central

Year: 1985

.....the exclusion of all other persons, any money due to any tea company in relation to its sick tea unit which has vested in the Corporation under sub-section (2) of section 3, and realised after the appointed day, notwithstanding that the realisation pertains to a period prior to the appointed day. (2) The Tea Trading Corporation may make a claim to the Commissioner with regard to every payment made by that Corporation, after the appointed day, for discharging any liability of a tea company, not being any liability specified in sub-section (1) of section 24, in relation to any sick tea unit owned by it in respect of 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 Tea Trading Corporation. (3) Save as otherwise provided in this Act, the liabilities of a tea company in relation to any sick tea unit owned by it 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 that company. Section 16 - Claims to be made to the.....

Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985 Complete Act

State: Central

Year: 1985

.....Act, 1953 shall have the meanings respectively assigned to them in that Act; (j) words and expressions used herein and not defined either in this Act or in the Tea Act, 1953, but defined in the Companies Act, 1956 shall have the meanings respectively assigned to them in the Companies Act, 1956. SECTION 03: ACQUISITION OF RIGHTS OF TEA COMPANIES IN RESPECT OF SICK TEA UNITS (1) On the appointed day every sick tea unit and the right, title and interest of every tea company in relation to its sick tea units or, as the case may be, sick tea unit shall, by virtue of this Act, stand transferred to, and vest in, the Central Government. (2) Every sick tea unit which stands vested in the Central Government by virtue of sub-section (1) shall, immediately after it has so vested, stand transferred to, and vested in, the Tea Trading Corporation. SECTION 04: GENERAL EFFECT OF VESTING (1) Every sick tea unit 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 reserve funds' investments, book.....

Infusions (India) Limited (Acquisition of Shares) Act, 1985 Complete Act

State: West Bengal

Year: 1985

.....value of such shares as in force on the appointed day in accordance with the principle of determination of value of any asset under the Wealth-tax Act, 1957 and the rules made thereunder. (2) The amount referred to in sub-section (1) 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 amount is made by the State Government to the Commissioner. Section 7 Appointment of Commissioner of Payments (1) The State Government shall, for the purpose of disbursing the amounts payable to the shareholders under section 6, by notification, appoint a Commissioner of Payments. (2) The State Government may appoint such other persons as it -may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and difi'erent persons may be authorised to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they.....

Bhopal Gas Leak Disaster Processing of Claims Act 1985 Section 10

Title: Removal of Doubts

State: Central

Year: 1985

For the removal of doubts, it is hereby declared that- (a) any sums paid by the Government to a claimant otherwise than by way of disbursal of the compensation or damages received as a result of the adjudication or settlement of his claim by a court or other authority, shall be deemed to be without prejudice to the adjudication or settlement by such court or other authority of his claim to receive compensation or damages in satisfaction of his claim and shall not be taken into account by such court or other authority in determining the amount of compensation or damages to which he may be entitled in satisfaction of his claim; (b) in disbursing under the Scheme the amount received by way of compensation or damages in satisfaction of a claim as a result of the adjudication or settlement of the claim by a court or other authority, deduction shall be made from such amount of the sums if any paid to the claimant by the Government before the disbursal of such amount.

Indira Gandhi National Open University Act, 1985 Complete Act

State: Central

Year: 1985

.....in the Gazette of India. SECTION 30: CONDITIONS OF SERVICE OF EMPLOYEES (1) Every employee of the University shall be appointed-under a written contract and such contract shall not be inconsistent with .the provisions of this Act, the Statutes and the Ordinances. (2) The contract referred to in sub-section (1) shall be lodged with the University and a copy of which shall be furnished to the employee concerned. SECTION 31: TRIBUNAL OF ARBITRATION (1) Any dispute arising out of a contract of employment referred to in S. 30 between the University and an employee shall, at the request of either party, be referred to a Tribunal of Arbitration which shall consist of one member nominated by the Board of Management, one member nominated by the employee concerned and an umpire to be nominated by the Visitor. (2) Every such reference shall be deemed to be a submission to arbitration upon the terms of this section within the meaning of the Arbitration Act, 1940-, and all the provisions of that Act, with the exception of S. 2 thereof, shall apply accordingly. (3) The procedure for regulating the work of the Tribunal of Arbitration shall be prescribed by the Statutes. (4) The decision of the.....

Bhopal Gas Leak Disaster Processing of Claims Act 1985 Section 9

Title: Power to Frame a Scheme

State: Central

Year: 1985

.....may be credited to such fund; (f) the utilisation by way of disbursal (including apportionment) or otherwise, of any amounts received in satisfaction of the claims; (g) the officer (being a judicial officer of a rank not lower than that of a District Judge) who may make such disbursal or apportionment in the event of a dispute; (h) the maintenance and audit of accounts with respect to the amounts referred to in clauses(e) and (f); (i) the functions of the Commissioner and other officers and employees appointed under section 6. (3) Every Scheme framed under sub-section (1) shall be laid, as soon as may be after it is framed, 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 sessions aforesaid, both Houses agree in making any modification in the scheme or both houses agree that the Scheme should not be framed, the Scheme shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or.....

Sick Industrial Companies (Special Provisions) Act, 1985 Chapter III

Title: References, Inquiries and Schemes

State: Central

Year: 1985

.....Interest Act, 2002, where financial assets have been acquired by any securitisation company or reconstruction company under sub-secton (1) of section 5 of that Act: Provided also that on or after the commencement2of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, where a reference is pending before the Board for Industrial and Financial Reconstruction, such reference shall abate if the secured creditors, representing not less than three-fourth in value of the amount outstanding against financial assistance disbursed to the borrower of such secured creditors, have taken any measures to recover their secured debt under sub-section (4) of section 13 of that Act] (2) Without prejudice to the provisions of sub-section (1), the Central Government or the Reserve Bank or a State Government or a public financial institution or a State level institution or a scheduled bank may, if it has sufficient reasons to believe that any industrial company has become, for the purposes of this Act, a sick industrial company, make a reference in respect of such company to the Board for determination of the measures which may be adopted.....

Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985 Complete Act

Title: Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985

State: Central

Year: 1985

.....the general revenue account Chapter VII Section23 - Act to have overriding effect Section24 - Assumption of liability Section25 - Management to continue to vest in certain persons until alternative arrangements have been made Section26 - Contracts to cease to have effect unless ratified by the Tea Trading Corporation Section27 - Penalties Section28 - Offences by companies Section29 - Protection of action taken in good faith Section30 - Tea companies not to be wound up by the court Section31 - Delegation of powers Section32 - Power to make rules Section33 - Power to remove difficulties Section34 - Repeal and saving ScheduleI - FIRST SCHEDULE ScheduleII - SECOND SCHEDULE Amending ActI - THE TEA COMPANIES (ACQUISITION AND TRANSFER OF SICK TEA UNITS) AMENDMENT ACT, 1991