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Start Free TrialOil Industry Development Act 1974 Chapter II
Title: The Oil Industry Development Board
State: Central
Year: 1974
.....or other person. (6) The Board may do all such things as may be incidental to or consequential upon the discharge of its functions under this Act. Section 6 - Functions of the Board (1) Subject to the provisions of this Act and the rules made there under, the Board shall render, in such manner, to such extent and on such terms and conditions as it may deem fit, financial and other assistance for the promotion of all such measures as are, in its opinion, conducive to the development of oil industry. (2) Without prejudice to the generality of the provisions of sub-section (1), the Board may render assistance under that sub-section by-- (a) making grants or advancing loans to any oil industrial concern or other person who is engaged or is to engage in any activity referred to in clause (k) of section 2; (b) guaranteeing on such terms and conditions as may be agreed upon loans raised by any oil industrial concern or other person which are repayable within a period not exceeding twenty-five years and are floated in the market or loans raised by an oil industrial concern or other person from any bank which is a scheduled bank, or a State co-operative bank, as defined.....
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Preamble 1
Title: The Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981
State: Central
Year: 1981
.....and , control over , a significant portion of crude oil , gas and petroleum products produced , marketed and distributed in India by reason of the fact that Oil India Limited , wherein it holds fifty percent , of the shares , and one of its subsidiaries , namely , the Assam Oil Company limited are carrying on the business of exploration and production of crude oil , gas and petroleum products , and the said Assam Oil Company Limited is also carrying on through its undertakings in India and through the undertaking in India of "The Burmah Oil Company (India Trading) Limited" another of the subsidiaries of " The Burmah Oil Company Limited", the business of marketing and distribution of petroleum products; AND WHEREAS it is expedient in the public interest that the shares of the said Oil India Limited held by " The Burmah Oil Company Limited " and the undertakings in India of the said Assam Oil Company Limited and "The Burma Oil Company (India Trading) Limited " should be acquired; AND WHEREAS such acquisition is for giving effect to the policy of the state towards securing the principle specified in clause (b) of article 39 of the constitution as the ownership and control of.....
View Complete Act List Judgments citing this sectionAmritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Chapter II
Title: Acquisition and Transfer of Amritsar Oil Works
State: Central
Year: 1982
.....become due and payable, (3) For the removal of doubts, it is hereby declared that-- (a) save as otherwise expressly provided in this section or in any other section of this Act, no liability, other than the liability specified in sub-section (2), of the Amritsar Sugar Wills Company in relation to the Amritsar Oil Works in respect of a period prior to the appointed day shall be enforceable against the Central Government or the Government Company, as the case may be; (b) no award, decree or order of any court, tribunal or other authority in relation to the Amritsar Oil Works, passed after the appointed day, in respect of any matter, claim or dispute in relation to any matter, not being a matter referred to in sub-section (2), which arose before that date shall be enforceable against the Central Government or the Government company, as the case may be; (c) no liability incurred by the Amritsar Sugar Mills Company before the appointed day, for the contravention, in relation to the Amritsar Oil Works, of any provision of law for the time being in force, shall be enforceable against the Central Government or the Government company, as the case may be.
View Complete Act List Judgments citing this sectionNational Oilseeds and Vegetable Oils Development Board Act, 1983 Chapter II
Title: The National Oilseeds and Vegetable Oils Development Board
State: Central
Year: 1983
.....to the transaction of business at its meetings (including the quorum at its meetings) as may be provided by regulations made by the Board under this Act. Section 5 - Allowances of members The members of the Board shall receive such allowances as may be fixed by the Central Government. Section 6 - Officers of the Board and other staff (1) The Central Government shall appoint a person possessing such technical qualifications and practical experience in oilseeds development as may be prescribed, as the Executive Director to the Board. (2) The Executive Director shall be the chief executive of the Board and shall exercise such powers and perform such functions as may be prescribed. (3) The Central Government shall appoint a Secretary to the Board who shall exercise such powers and perform such functions as may be prescribed or as may be delegated to him by the Board or the Executive Director. (4) The Executive Director and the Secretary shall be entitled to such salary and allowancesand shall be subject to such conditions of service in respect of leave, pension, provident fund andother matters as may, from time to time, be fixed by the Central Government. (5) Subject.....
View Complete Act List Judgments citing this sectionAmritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Chapter IV
Title: Management Etc. of Amritsar Oil Works
State: Central
Year: 1982
.....the Government company, as the case may be, and shall deliver them up to the Central Government or the Government company or to such person or body of persons as the Central Government or the Government company may specify in this behalf. (2) The Central Government may take or cause to be taken all necessary steps for securing possession of the Amrtisar Oil Works which has vested in it under section 3. Section 11 - Duty of Amritsar Sugar Mills Company to furnish particulars The Amritsar Sugar Mills Company shall, within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all its properties and assets as on the appointed day, pertaining to the Amritsar Oil Works which has vested in the Central Government under section 3, and for this purpose the Central Government or the Government company shall afford the Amritsar Sugar Mills Company all reasonable facilities.
View Complete Act List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Complete Act
Title: Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981
State: Central
Year: 1981
.....the appointed day Section8 - Removal of doubts Section9 - Power of Central Government to direct vesting of the under takings of specified companies in one or more Government Companies Chapter IV Section10 - Payment of amount to Burmah Oil Company Chapter V Section11 - Transfer of service of existing employees of the specified companies Section12 - Provident superannuation, welfare fund, etc Chapter VI Section13 - Effect of Act on other laws Section14 - Duty to deliver possession of properties etc Section15 - Contracts to continue unless terminated by Central Government Section16 - Penalties Section17 - Offences by companies Section18 - Protection of action taken in good faith Section19 - Cognizance of offences Section20 - Indemnity Section21 - Power to remove difficulties Section22 - Power to make rules
List Judgments citing this sectionBurmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Chapter II
Title: Acquisition of the Shares of Oil India Hels by Burmah Oil Company
State: Central
Year: 1981
.....Any dividend payable by Oil India to the shares which have vested in the central government under sub-section (1) in respect of any period beginning from the I st day of January , 1977 , shall be payable to the central government . Section 4 - Management of Oil India For the purpose of enabling Oil India to function as a government company , the central government may, by notification , make such amendments in the memorandum and articles of association of that company and such other provisions as it may consider necessary. (2) Any amendments in the memorandum and articles of association of Oil India and any other provisions made under sub-section (1) shall have effect notwithstanding anything contained in the companies Act, 1956 (1 of 1956).
View Complete Act List Judgments citing this sectionOil Industry Development Act 1974 Preamble 1
Title: Oil Industry Development Act 1974
State: Central
Year: 1974
Preamble 1 - OIL INDUSTRY DEVELOPMENT ACT 1974 THE OIL INDUSTRY (DEVELOPMENT) ACT, 1974 [Act, No. 47 of 1974] [26th September 1974] PREAMBLE An Act to provide for the establishment of a Board for the development of oil industry and for that purpose to levy a duty of excise on crude oil and natural gas and for matters connected therewith. BE it enacted by Parliament in the Twenty-fifth Year of the Republic of India as follows :-- OIL INDUSTRY DEVELOPMENT ACT 1974Preamble 1 - OIL INDUSTRY DEVELOPMENT ACT 1974 THE OIL INDUSTRY (DEVELOPMENT) ACT, 1974 [Act, No. 47 of 1974] [26th September 1974] PREAMBLE An Act to provide for the establishment of a Board for the development of oil industry and for that purpose to levy a duty of excise on crude oil and natural gas and for matters connected therewith. BE it enacted by Parliament in the Twenty-fifth Year of the Republic of India as follows :--
View Complete Act List Judgments citing this sectionAmritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Preamble 1
Title: Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982
State: Central
Year: 1982
.....towards securing the principles specified in clauses (b) and (c) of article 39 of the Constitution. WHEREAS the Amritsar Sugar Mills Company has through its undertakings, namely the factory known as the Amritsar Oil Works, Amritsar been engaged in the manufacture and production of certain commodities, namely, vanaspati and refined edible oils which are essential to the needs of the community; AND WHEREAS the management of the said Amritsar Oil Works was taken over by the Central Government under the Industries (Development and Regulation) Act, 1951; AND WHEREAS it is necessary to acquire the undertakings of the Amritsar Sugar Mills Company in relation to the said Amritsar Oil Works for sustaining and strengthening the nucleus of public owned or controlled units required for ensuring supply of wholesome vanaspati and refined edible oils to the public at reasonable prices; AND WHEREAS such acquisition is for giving effect to the policy of the State towards securing the principles specified in clauses (b) and (c) of Article 39 of the Constitution; BE it enacted by Parliament in the Thirty-third Year of the Republic of India as follows
View Complete Act List Judgments citing this sectionCaltex Acquisition of Shares of Caltex Oil Refining (India) Limited and of the Undertakings in India of Caltex (India) Limited Act, 1977 Preamble 1
Title: Caltex Acquisition of Shares of Caltex Oil Refining (India) Limited and of the Undertakings in India of Caltex (India) Limited Act, 1977
State: Central
Year: 1977
.....the ownership of, and control over, a significant portion of the petroleum products produced, marketed and distributed in India by reason of the fact that one of its subsidiaries, namely, the Caltex Oil Refining (India) Limited (an Indian company), is carrying on the business of refining crude oil and producing petroleum products in India and another of its subsidiaries, namely, the Caltex (India) Limited (a foreign company), is carrying on through its undertakings in India the business of marketing and distributing petroleum products; AND WHEREAS it is expedient in the public interest that the shares of the said Caltex Oil Refining (India) Limited and the undertakings in India of the said Caltex (India) Limited should be acquired; AND WHEREAS such acquisition is for giving effect to the policy of the State towards securing the principle specified in clause (b) of article 39 of the Constitution as the ownership and control of the material resources of the community, to wit the petroleum products produced by the said Caltex Oil Refining (India) Limited and marketed and distributed by the undertakings of the said Caltex (India) Limited, in India, would by reason of such.....
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