Bare Act Search Results

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Chapter II

Title: Acquisition of the Undertakings in India of Burmah Shell

State: Central

Year: 1976

.....the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Government company. (3) The provisions of sub-section (2) of section 5 shall apply to a lease or tenancy, which vests in a Government company, as they apply to a lease or tenancy vested in the Central Government, and reference therein to the "Central Government" shall be construed as a reference to the Government company. Section 8 - Payment of amount (1) For the transfer and vesting in the Central Government, under sections 3 and 4, of the right, title and interest of Burmah Shell in relation to its undertakings in India, and for the vesting in the Central Government, under section 5, of the rights specified therein, there shall be paid by the Central Government to Burmah Shell an amount of rupees twenty-seven crores and seventy-five lakhs in such instalments and in such manner as are specified in the Second Schedule. (2) Taxes, if any, payable in India by Burmah Shell by reason of the payment of the amount specified in sub-section (l) shall be paid by the Central Government to Burmah Shell in Indian currency, and any amount received by Burmah Shell by way of refund of.....

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Chapter III

Title: Provisions Relating to Employees of Burmah Shell

State: Central

Year: 1976

.....decide it in such manner as it thinks fit and such decision shall be final. (3) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947), the Payment of Gratuity Act, 1972(39 of 1972), or in any other law for the time being in force, the transfer of the services of any officer or other employee under sub-section (1) shall not entitle any such officer or other employee to any compensation or gratuity under those Acts or such other law, and no such claim shall be entertained by any court, tribunal or other authority. Section 10 - Provident, superannuation, welfare fund, etc. (1) Where a provident, superannuation, welfare or other fund has been established by Burmah Shell for the benefit of the persons employed by it in connection with its undertakings in India, the moneys relatable to the employees (i) whose services are transferred by or under this Act to the Central Government or the Government company; or (ii) who are in receipt of pension or other pensionary benefits immediately before the appointed day, shall, out of the moneys standing, on that day, to the credit of such provident, superannuation, welfare or other fund stand.....

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Section 9

Title: Transfer of Service Existing Employees of Burmah Shell

State: Central

Year: 1976

.....officer or other employee of Burmah Shell was temporarily holding any assignment outside India, the question shall be referred, within a period of two years from the appointed day and not thereafter, to the Central Government which shall, after giving an opportunity of being heard to the person concerned in the matter, decide it in such manner as it thinks fit and such decision shall be final. (3) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947), the Payment of Gratuity Act, 1972(39 of 1972), or in any other law for the time being in force, the transfer of the services of any officer or other employee under sub-section (1) shall not entitle any such officer or other employee to any compensation or gratuity under those Acts or such other law, and no such claim shall be entertained by any court, tribunal or other authority.

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Preamble 1

Title: Burmah Shell (Acquisition of Undertakings in India) Act, 1976

State: Central

Year: 1976

THE BURMAH SHELL (ACQUISITION OF UNDERTAKINGS IN INDIA) ACT, 1976 [Act, No. 2of 1976] [24th January, 1976] PREAMBLE An Act to provide for the acquisition and transfer of the right, title and interest of the Burmah Shell Oil Storage and Distributing Company of India Limited in relation to its undertakings in India with a view to ensuring co-ordinated distribution and utilisation of petroleum products distributed and marketed in India by the said company and for matters connected therewith or incidental thereto. WHEREAS Burmah Shell Oil Storage and Distributing Company of India Limited, a foreign company, is carrying on in India the business of distributing and marketing petroleum products and has, for that purpose, established places of business at Bombay and other places in India.' AND WHEREAS it is expedient in the public interest that the undertakings in India, or Burmah Shell Oil Storage and Distributing Company of India Limited, should be acquired in order to ensure that the ownership and control of the petroleum products distributed and marketed in India by the said company are vested in the State and thereby so distributed as best to subserve the common good; .....

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Complete Act

Title: Burmah Shell (Acquisition of Undertakings in India) Act, 1976

State: Central

Year: 1976

Preamble1 - BURMAH SHELL (ACQUISITION OF UNDERTAKINGS IN INDIA) ACT, 1976 Chapter I Section1 - Short title Section2 - Definitions Chapter II Section3 - Transfer and vesting in the Central Government of the undertakings of Burmah Shell in India Section4 - General effect of vesting Section5 - Central Government to be lessee or tenant under certain circumstances Section6 - Removal of doubts Section7 - Power of Central Government to direct vesting of the undertakings of the Burmah Shell in a Government company Section8 - Payment of amount Chapter III Section9 - Transfer of service existing employees of Burmah Shell Section10 - Provident, superannuation, welfare fund, etc. Chapter IV Section11 - Effect of Act on other laws Section12 - Deliver possession of properties, etc. Section13 - Contracts to continue unless terminated by Central Government Section14 - Penalties Section15 - Offences by companies Section16 - Protection of action taken in good faith Section17 - Cognizance of offences Section18 - Indemnity Section19 - Power to remove difficulties Section20 - Power to make rules Schedule1 - FIRST SCHEDULE Schedule2 - SECOND SCHEDULE

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Section 7

Title: Power of Central Government to Direct Vesting of the Undertakings of the Burmah Shell in a Government Company

State: Central

Year: 1976

.....in relation to its undertakings in India vest in a Government company under sub-section (l), the Government company shall, on and from the date or such vesting, be deemed to have become the owner, tenant or lessee, as the case may be, 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 the Government company. (3) The provisions of sub-section (2) of section 5 shall apply to a lease or tenancy, which vests in a Government company, as they apply to a lease or tenancy vested in the Central Government, and reference therein to the "Central Government" shall be construed as a reference to the Government company.

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Section 3

Title: Transfer and Vesting in the Central Government of the Undertakings of Burmah Shell in India

State: Central

Year: 1976

On the appointed day, the right, title and interest of Burmah Shell, in relation to its undertakings in India, shall stand transferred to, and shall vest in, the Central Government.

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Complete Act

State: Central

Year: 1976

.....Government company to take all necessary steps for taking possession of all properties which have been transferred to, and 'vested in, it under this Act. SECTION 13: CONTRACTS TO CONTINUE UNLESS TERMINATED BY CENTRAL. GOVERNMENT (1) Every contract entered into by Burmah Shell for any service, sale or supply in India, and in force immediately before the appointed day, shall, unless terminated under sub-section (2) within one year from the appointed day, continue to be of full force and effect against or in favour of the Central Government or the Government company in which the undertakings of Burmah Shell in India have vested under this Act. (2) The Central Government may, if it is satisfied that any contract referred to in sub-section (1) is unduly onerous or has been entered into in bad faith or is detrimental to the interests of that Government or the Government company, by order in writing, either terminate such contract or make such alterations or modifications therein as it may think fit: Provided that the Central Government shall not terminate any contract or make any alteration or modification therein except after giving to the parties to the contract, a reasonable.....

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Section 4

Title: General Effect of Vesting

State: Central

Year: 1976

.....item described as "Loans in United Kingdom from shareholders and/or their associated companies" in the accounts of Burmah Shell, filed pursuant to section 594 of the Companies Act, 1956 (1 of 1956), as at 31st day of December, 1974. (4) Unless otherwise expressly provided by this Act, all deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature in relation to the undertakings of Burmah Shell in India, subsisting or having effect immediately before the appointed day, and to which Burmah Shell is a party or which are in favour of Burmah Shell shall be of as full force and effect against or in favour of the Central Government and may be enforced or acted upon as fully and effectually as if in the place of Burmah Shell of the Central Government had been a party thereto or as if they had been issued in favour of the Central Government. (5) If, on the appointed day, any suit, appeal or other proceeding of whatever nature, in relation to the undertakings of Burmah Shell in India, which have been transferred to and vested in the Central Government under section 3, is pending by or against Burmah Shell, the same shall not.....

Burmah Shell (Acquisition of Undertakings in India) Act, 1976 Chapter IV

Title: Miscellaneous

State: Central

Year: 1976

.....Government company to take all necessary steps for taking possession of all properties which have been transferred to, and vested in, it under this Act. Section 13 - Contracts to continue unless terminated by Central Government (1) Every contract entered into by the Burmah Shell for any service, sale or supply in India, and in force immediately before the appointed day, shall, unless terminated under sub-section (2) within one year from the appointed day, continue to be of full force and effect against or in favour of the Central Government or the Government company in which the undertakings of Burmah Shell in India have vested under this Act. (2) The Central Government may, if it is satisfied that any contract referred to in sub-section (1) is unduly onerous or has been entered into in bad faith or is detrimental to the interests of that Government or the Government company, by order in writing, either terminate such contract or make such alterations or modifications therein as it may think fit: Provided that the Central Government shall not terminate any contract or make any alteration or modification therein except after giving to the parties to the contract, a.....