The Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980
[Act No. 67 of 1980]
[27th December, 1980.]
| Contents |
| Title |
Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980 |
| Sections |
Particulars |
| Chapter I |
Preliminary |
| 1. |
Short title and commencement |
| 2. |
Definitions |
| Chapter II |
Acquisition and Transfer of The Undertakings of The Company and of Shares Held by The Company in The Specified Companies |
| 3. |
Transfer to, and vesting in, the Central Government of the undertakings of the Company |
| 4. |
Transfer and vesting of shares held by the Company in the specified companies |
| 5. |
General effect of vesting |
| 6. |
Central Government or the Government company not to liable for certain prior liabilities |
| 7. |
Power of Central Government to direct vesting of the undertakings of the Company in a Government company |
| Chapter III |
Payment of Amounts |
| 8. |
Payment of amounts to the Company and specified companies |
| Chapter IV |
Management, Etc., of The Undertakings of The Company |
| 9. |
Management, etc., of the undertakings of the Company |
| 10. |
Duty of persons in charge of management of undertakings of the Company to deliver all assets, etc. |
| Chapter V |
Provision Relating to Employees of The Company |
| 11. |
Continuance of employees |
| 12. |
Provident fund and other funds |
| Chapter VI |
Commissioner of Payments |
| 13. |
Appointment of Commissioner of Payments |
| 14. |
Payment by Central Government to the Commissioner |
| 15. |
Certain powers of Central Government or Government company |
| 16. |
Claims to be made to the Commissioner |
| 17. |
Priority of claims |
| 18. |
Examination of claims |
| 19. |
Admission or rejection of claims |
| 20. |
Disbursement of money by Commissioner to claimants |
| 21. |
Disbursement of amounts to the Company and possession of certain machinery, equipment, etc. |
| 22. |
Undisbursed or unclaimed amount to be deposited to the general revenue account |
| Chapter VII |
Miscellaneous |
| 23. |
Act to have overriding effect |
| 24. |
Contracts to cease to have effect unless ratified by the Central Government or Government company |
| 25. |
Penalties |
| 26. |
Offences by companies |
| 27. |
Protection of action taken in good faith |
| 28. |
Delegation of powers |
| 29. |
Power to make rules |
| 30. |
Power to remove difficulties |
| 31. |
Repeal and saving |
| The Schedule |
|
| Schedule 1 |
[See section 2 (g)] |
| Schedule 2 |
Order of Priorities for The Discharge of Liabilities of The Company |
