Bare Act Search Results

British India Corporation Ltd (Acquisition of Shares) Act, 1981 Complete Act

State: Central

Year: 1981

.....in making any modification in the rule or both Houses agree that the rule should not be made the rule 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 annulment shall be without prejudice to the validity of anything previously done under that rule. SECTION 21: REPEAL AND SAVING (1) The British India Corporation (Acquisition of Shares) Ordinance, 1981, is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Ordinance so repealed shall be deemed to have been done or taken under the corresponding provisions of this Act. Central Bare Acts

Hind Cycles Limited and Sen Raleigh Ltd. (Nationalisation) Rules, 1981 Complete Act

State: Central

Year: 1981

.....requires:" (a) "Act" means the Hind Cycles Limited and Sen-Raliegh Limited (Nationalisation) Act, 1980-. (b) 'Section' means a section of the Act. RULE 03: TIME LIMIT FOR INTIMATION Every mortgagee of any property which has vested under the Act in the Central Government or in a Government Company, as the case may be, and every person holding any charge, lien or other interest in, or in relation to, any such property shall give intimation of such mortgage, charge, lien, or other interest to the Commissioner within a period of thirty days from such date, as may be specified by the Central Government under Sec.18: Provided that if the Commissioner is satisfied that the mortgage of the person holding any charge, lien or other interest was prevented by sufficient cause from giving the intimation within the said period of thirty days, he may, after recording reasons in writing receive the intimation within a further period of thirty days and not thereafter. RULE 04: MANNER OF INTIMATION (1) Every intimation to be given to the Commissioner under rule 3-shall be in writing addressed to the Commissioner, and shall contain the following particulars, namely :" (a) Name, description.....

Asian Refractories Ltd. Act 1971 Complete Act

Title: Asian Refractories Ltd. Act 1971

State: Central

Year: 1971

Preamble1 - THE ASIAN REFRACTORIES LIMITED (ACQUISITION OF UNDERTAKING)ACT, 1971 Section1 - Short title and commencement Section2 - Definitions Section3 - Undertaking of the company to vest in the Central Government Section4 - General effect of vesting Section5 - Duty to deliver possession of the undertaking and documents relating thereto Section6 - Duty to furnish particulars Section7 - Payment of compensation Section8 - Management and administration of the under taking Section9 - Penalties Section10 - Protection of action taken in good faith Section11 - Repeal and savings

Asian Refractories Ltd. Act 1971 Section 6

Title: Duty to Furnish Particulars

State: Central

Year: 1971

The company shall, within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all the properties and assets of the company, as on the appointed day, pertaining to the undertaking which has vested in the Central Government under section 3.

Asian Refractories Ltd. Act 1971 Section 11

Title: Repeal and Savings

State: Central

Year: 1971

(1) The Asian Refractories Limited (Acquisition of Undertaking) Ordinance, 1971 (Ord.13 of 1971), is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the Ordinance so repealed shall be deemed to have been done or taken under the corresponding provisions of this Act.

Asian Refractories Ltd. Act 1971 Section 10

Title: Protection of Action Taken in Good Faith

State: Central

Year: 1971

No suit, prosecution or other legal proceeding shall lie against the Central Government or an officer or other employee serving in connection with the affairs of the undertaking of the company which is in good faith done or intended to be done under this Act.

Asian Refractories Ltd. Act 1971 Section 8

Title: Management and Administration of the Under Taking

State: Central

Year: 1971

The undertaking, which has vested in the Central Government under section 3, shall be managed on behalf of the Central Government by such person or body of persons as may be nominated by the Central Government in this behalf, and such person or body or persons shall carry on the management in accordance with such regulations as may be made by the Central Government.

Asian Refractories Ltd. Act 1971 Section 7

Title: Payment of Compensation

State: Central

Year: 1971

.....which a period of one year expires from the appointed day and the subsequent instalments shall become due accordingly; and (c) each instalment of the compensation, referred to in clause (b), shall carry interest at the rate of seven per cent.per annum from the commencement of this Act. (3) For the avoidance of doubts, it is hereby declared that the compensation referred to in sub-section (1) represents the realisable value of the assets of the undertaking, which has vested in the Central Government under section 3, and the liabilities of the undertaking shall be met from the said amount of compensation. (4) In meeting the liabilities of the undertaking which has vested in the Central Government under section 3, the Court, by which the company owning such undertaking is being wound up, shall distribute, in due course of administration, the amount of the compensation amongst the creditors and, if there is any surplus left after such distribution, amongst the contributories of the company in accordance with their rights and interest.

Asian Refractories Ltd. Act 1971 Section 9

Title: Penalties

State: Central

Year: 1971

.....this Act; or (c) wilfully withholds or fails to furnish to the Central Government or any person specified by that Government as required by sub-section (2) of section 5 any document which may be in his possession, custody or control; or (d) wilfully fails to furnish an inventory as required under section 6; or (e) when required to furnish such inventory, furnishes any particulars therein which are false and which he either knows or believes to be false or does not believe to be true, shall be punishable with imprisonment for a term which may extend to two years, or with fine, or with both: Provided that the court trying any offence under clause (a) or clause (b) or clause (c) of this sub-section may, at the time of convicting the accused person, order him to deliver up or refund within a time to be fixed by the court any property wrongfully withheld or wrongfully obtained or any document wilfully withheld or not furnished: Provided further that nothing contained in this section or any other provision of this Act shall render any person liable to be convicted of an offence in respect of anything done or omitted to be done by him before the appointed day. (2) No.....

Asian Refractories Ltd. Act 1971 Section 5

Title: Duty to Deliver Possession of the Undertaking and Documents Relating Thereto

State: Central

Year: 1971

(1) Notwithstanding any decree, judgement or order of any court or anything contained in any other law for the time being in force, the Official Liquidator of the company or any other person, in whose possession or custody or under whose control the undertaking of the company or any part thereof may be, shall deliver possession of the undertaking of the company or such part thereof, as the case may be, to the Central Government forthwith. (2) The Official Liquidator or any other person who has, on the appointed day, in his possession or under his control any books, documents or other papers relating to the undertaking of the company which has vested, under section 3, in the Central Government, shall be liable to account for the said books, documents or other papers to the Central Government and shall deliver them up to the Central Government or to such person as the Central Government may specify in this behalf. (3) The Central Government may take, or cause to be taken, all necessary steps for securing possession of the undertaking which has vested in it under section 3.