Bare Act Search Results

Oil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993 Complete Act

State: Central

Year: 1993

.....under sub-section (1) of section 3 of the Oil and Natural Gas Commission Act, 1959-; (d) "prescribed" means prescribed by rules made under this Act. SECTION 03: UNDERTAKING OF COMMISSION TO VEST IN CORPORATION - On such date" as the Central Government may, by notification in the Official Gazette, appoint, the undertaking of the Commission shall stand transferred to; and vest in, the Corporation. SECTION 04: GENERAL EFFECT OF VESTING OF UNDERTAKING IN CORPORATION (1) On and from the appointed day, the entire capital of the Commission shall, by virtue of this Act, stand vested in the Corporation. (2) The undertaking of the Commission which is transferred to and which vests in the Corporation under section 3-shall be deemed to include all assets rights, powers, authorities and privileges and all properties movable and immovable, real and personal, corporeal or incorporeal, in possession or reservation present or contingent of whatever nature and where so ever situate including lands, buildings, works, workshops, vehicles, oil rigs, oil platform, cash balances, deposits, foreign currencies, reserves, reserve funds or any other investments, securities tenancies, leases and book.....

Oil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993 Section 4

Title: General Effect of Vesting of Undertaking in Corporation

State: Central

Year: 1993

.....guarantees, powers of attorney, other instruments and working arrangements subsisting immediately before the appointed day and affecting the Commission shall cease to have effect or to be enforceable against the Commission and shall be of as full force and effect against or in favor of the Corporation and enforceable as fully, and effectually as if, instead of the Commission, the Corporation had been named therein or had been a party thereto. (4) Any proceeding or cause of action pending or existing immediately before the appointed day by or against the Commission, in relation to its undertaking may, as from the appointed day be continued and enforced by or against the Corporation as it might have been enforced by or against the Commission, if this Act had not been in force, and shall cease to be enforceable by or against the Commission.

Oil 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.....

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 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.....

National 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.....

Amritsar 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.

Amritsar 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.

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 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

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 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).

Oil 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 :--