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Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982 Complete Act

Title: Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982

State: Central

Year: 1982

.....Priority of claims Section20 - Examination of claims Section21 - Admission or rejection of claims Section22 - Disbursement of money by the Commissioner Section23 - Disbursement of amounts to the Company Section24 - Undisbursed or unclaimed amount to be deposited with the general revenue account Chapter VII Section25 - Act to have overriding effect Section26 - Contracts to cease to have effect unless ratified by Central Government or Government company Section27 - Penalties Section28 - Offences by companies Section29 - Protection of action taken in good faith Section30 - Delegation of powers Section31 - Power to make rules Section32 - Power to remove difficulties ScheduleI - SCHEDULE I

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 1

Title: Short Title

State: Central

Year: 1982

This Act may be called The Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982.

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 11

Title: Duty of Amritsar Sugar Mills Company to Furnish Particulars

State: Central

Year: 1982

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.

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 10

Title: Duty of Persons to Account for Assets, Etc

State: Central

Year: 1982

(1) Every person who has, on appointed day, in his possession or under his control any assets, books, documents or other papers relating to the Amritsar Oil Works which has vested in the Central Government or a Government company under this Act, and which belongs to the Amritsar Sugar Mills Company or would have so belonged if the Amritsar Oil Works had not vested in the Central Government or the Government company, shall be liable to account for the assets, books, documents and other papers to the Central Government or 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.

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 9

Title: Duty of Persons in Charge of Management of Amritsar Oil Works to Deliver Assets, Etc

State: Central

Year: 1982

On the vesting in the Central Government or a Government company of the Amritsar Oil Works, all persons in charge of the management of the Amritsar Oil Works immediately before the date of such vesting, shall be bound to deliver 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, all assets, books of account, registers or the documents in their custody relating to the Amritsar Oil Works.

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 8

Title: Management, Etc. of Amritsar Oil Works

State: Central

Year: 1982

.....other persons, all such powers and do all such things as the Amritsar Sugar Mills Company is authorised to exercise and do in relation to its Amritsar Oil Works. (2) The Central Government may appoint one or more individuals or a Government company as the Custodian or Custodians of the Amritsar Oil Works in relation to which no direction has been made by it under sub-section (1) of section 5. (3) The Custodian or Custodians so appointed shall receive, from the funds of the Amritsar Oil Works, such remuneration as the Central Government may fix and shall hold office during the pleasure of the Central Government. (4) The Custodian or Custodians, of the Amritsar Oil Works shall maintain an account of the Amritsar Oil Works in such form and manner and under such conditions as may be prescribed and the provisions of the Companies Act, 1956, shall apply to the audit of the accounts so maintained as they apply to the audit of the accounts of a company.

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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.

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 7

Title: Payment of Amount

State: Central

Year: 1982

.....thousand, nine hundred and forty-four rupees and sixty-five paise. (2) In addition to the amount specified in sub-section (1), there shall also be given to the Amritsar Sugar Mills Company by the Central Government an amount calculated at the rate of ten thousand rupees per annum for the deprivation of the Amritsar Sugar Mills Company of the management of its Amritsar Oil Works for the period commencing on the date of taking over and ending with the appointed day. (3) The amount specified in sub-section (1) and the amount calculated in accordance with the provisions of sub-section (2) shall carry simple interest at the rate of four per cent, per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner,

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Chapter III

Title: Payment of Amount

State: Central

Year: 1982

.....thousand, nine hundred and forty-four rupees and sixty-five paise. (2) In addition to the amount specified in sub-section (1), there shall also be given to the Amritsar Sugar Mills Company by the Central Government an amount calculated at the rate of ten thousand rupees per annum for the deprivation of the Amritsar Sugar Mills Company of the management of its Amritsar Oil Works for the period commencing on the date of taking over and ending with the appointed day. (3) The amount specified in sub-section (1) and the amount calculated in accordance with the provisions of sub-section (2) shall carry simple interest at the rate of four per cent, per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner,

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Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act, 1982 Section 6

Title: The Amritsar Sugar Mills Company to Be Liable for Certain Prior Liabilities

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.

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