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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-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 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 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 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 12

Title: Act to Have Overriding Effect

State: Central

Year: 1985

The provisions of this Act shall have effect notwithstanding anythings inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal other authority

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 14

Title: Offences by Companies

State: Central

Year: 1985

.....and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation - For the purposes of this section,- (a) "company" means any body corporate and includes a firm or other association of individuals; and (b)" director", in relation to a firm, means a partner in the firm.

Futwah-islamur Light Ralilway Line (Nationalisation) Act, 1985 Section 7

Title: Interest

State: Central

Year: 1985

The amount referred to in sub- section (1)of section 6 as reduced by the deductions under sub-section (2)of that section, shall, if not paid to the Company before the expiry of the period specified in the said subsection (1), carry simple interest at the rate of four percent per annum for the period commencing on the appointed day and ending on the date on which payment of such amount as so reduced is made by the Central Government to the Company: Provided that if the amount as so reduced is tendered to the Company. But not accepted by it, no interest shall run from the date of such tender.

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.