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Start Free TrialRailway Companies (Emergency Provisions) Act, 1951 Complete Act
Title: Railway Companies (Emergency Provisions) Act, 1951
State: Central
Year: 1951
Preamble1 - RAILWAY COMPANIES EMERGENCY PROVISIONS ACT, 1951 Section1 - Short title, extent and application Section2 - Definitions Section3 - Power of Central Government to apply Act to any railway company and to appoint directors there of Section4 - Effect of notify order appointing directors or managing agents Section5 - Powers and duties of directors Section6 - Statement of affairs to be made to directors Section7 - Statements by beneficial owners of shares railway company Section8 - Power of directors to institute proceedings against past directors etc., for damages Section9 - Penalties Section10 - Filling up of vacancies among directors Section11 - No right to compensation for termination of contract of managing agent or any other contract Section12 - Cancellation of appointment of directors Section13 - Application of the companies Act Section14 - Effect of Act on other laws Section15 - Directors to be public servants Section16 - Delegation of powers Section17 - Protection of action taken under Act Section18 - Power of Central Government to acquire railway of railway company Section19 - Power to make rules Section20 - Repeal of Ordinance II of 1951
List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 1
Title: Short Title, Extent and Application
State: Central
Year: 1951
(1) This Act may be called the Railway Companies (Emergency Provisions) Act, 1951. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It applies to every railway company in respect of which a notify order has been issued under section 3.
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Preamble 1
Title: Railway Companies Emergency Provisions Act, 1951
State: Central
Year: 1951
THE RAILWAY COMPANIES (EMERGENCY PROVISIONS) ACT, 1951 [Act, No. 51 of 1951] Railway Companies (Emergency Provisions) [14th September, 1951] PREAMBLE In Act to make provision for the proper management and administration of railway companies in certain special cases. BE it enacted by Parliament as follows:--
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 4
Title: Effect of Notify Order Appointing Directors or Managing Agents
State: Central
Year: 1951
.....to has terminated; (c) the managing agent, if any appointed under this Act shall be deemed to have been duly appointed in pursuance of the Company Act and the memorandum and articles of association of the railway company, and the provisions of the Companies Act and of the memorandum and articles shall, subject to the other provisions contained in this Act, apply accordingly but no such managing agent shall be removed from office except with the previous consent of the Central Government. (d) the directors shall take such steps as may be necessary to take in to the I custody or under their control all the property, effect and actionable claims to which the railway company is, or appears to be, entitled, and all the property and effects of the railway company shall be deemed to be in the custody of the directors as from the date of the notify order; (e) the directors shall be for all purposes the directors of the railway company duly constituted under the Companies Act and shall alone been titled to exercise all the powers of the directors of the railway company, whether such powers are derived from the Companies Act or from the memorandum or articles of association of the.....
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 12
Title: Cancellation of Appointment of Directors
State: Central
Year: 1951
.....or made under this Act. (2) On the cancellation of any such appointment as is referred to in sub-section (1), the Central Government may--- (a) direct that all the property, effects and actionable claims of the railway company shall revert in the persons in whom they were vested before the issued of the notify order under section 3; or (b) reconstitute by fresh appointment a new body of persons to take charge of the management and administration of the whole affairs of the railway company, whether as directors or managers or in any other capacity; Provided that no such direction or fresh appointment shall be made except in pursuance of are solution passed by the share holders of the railway company at a meeting called for the purpose by the directors appointed under section 3. (3) The Central Government may, at any time before the issue of the notify order under sub-section (1), take such action as may be necessary under clause (b) of sub-section(2)forthe purpose of making any fresh appointments.
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 13
Title: Application of the Companies Act
State: Central
Year: 1951
(1) Not with standing any thing contained in the Companies Act or in the memorandum or articles of association of the railway company, but subject to the other provisions contained in this Act,--- (a) it shall not be lawful for the shareholders of the railway company or any other person to nominate or appoint any person to be a director of the railway company; (b) no resolution passed at any meeting of the shareholders of the railway company shall be given effect to unless approved by the Central Government: (c) no proceeding for the winding-up of the railway company or for the appointment of a receiver in respect there of scallion any court, unless by or with the sanction of the Central Government. (2) Subject to the provisions contained in sub-section (1) and to the other provisions contained in this Act and subject to such exceptions, restrictions and limitations as the Central Government may by notify order specify, the Companies Act shall continue to apply to the railway company in the same manner assist applied there to before the issue of the notify order under section 3.
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 16
Title: Delegation of Powers
State: Central
Year: 1951
The Central Government may, by notified order, direct that all or any of the power exercisable by it under this Act, except the powers given to it under section 3 to apply the provisions of this Act to any railway company or the powers given to it under section 12 or section 18, may be exercised by any State Government, and where any powers are so delegated, they shall be exercised subject to such directions as the Central Government may issue from time to time.
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 20
Title: Repeal of Ordinance Ii of 1951
State: Central
Year: 1951
.....penalty, forfeiture, or punishment may be imposed as if this Act had not been passed: Provided further that, subject to the preceding proviso, anything done or any action taken (including any notified order issued, appointment made or direction given under the said Ordinance) shall be deemed to have been done or taken under the corresponding provision of this Act and shall continue in force accordingly unless and until superseded by anything done or any action taken under this Act. that, subject to the preceding proviso, anything done or any action taken (including any notified order issued, appointment made or direction given under the said Ordinance) shall be deemed to have been done or taken under the corresponding provision of this Act and shall continue in force accordingly unless and until superseded by anything done or any action taken under this Act.
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 19
Title: Power to Make Rules
State: Central
Year: 1951
.....order, make rules to carryout the purposes of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, any rules made under sub-section (1) may provide for-- (a) the manner in which or the conditions subject to which the direct or so managing agents of a railway company may exercise their powers under this Act; (b) the additional particulars which a statement under section 6 should contain; (c) the form in which a declaration under section 7 maybe made; (d) the appointment of a Railway Local Advisory Committee. (e) the manner in which books of account shall be maintained by the directors and audited; (f) the submission of specified or periodical returns and reports by the directors to any specified authority in connection with the affairs of the railway company; (g) the conduct of business of the directors appointed by notified order and for the recruitment and employment of officers and staff. 1 [(3) Every rule made 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.....
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 18
Title: Power of Central Government to Acquire Railway of Railway Company
State: Central
Year: 1951
(1) Where under any instrument, having effect by virtue of any law other than this Act or by virtue of an agreement arrived at between the parties, provision is made for the purchase by a person or local authority or the State Government of a railway which is the property of a railway company on payment of the value thereof calculated in the manner and subject to the conditions specified in the instrument, the Central Government shall also have the same right to purchase the railway on the same terms and subject to the same conditions as the person, local authority or the state Government has under the instrument. (2) If in respect of any railway the Central Government exercise its right of purchase under this section, any person, local authority or State Government in whom or in which a similar right is vested under the instrument, shall be deemed to have become disentitled to exercise the same.
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