The Oil Industry (Development) Act, 1974
13. No right to compensation for
loss of office.
- Notwithstanding anything contained
in any law for the time being in force, no Director or other person in charge of
the management of an oil industrial concern immediately before the issue of a
notified order under section 10 in respect of such concern shall be entitled to
any compensation for the loss of office or for the premature termination under
this Act of the contract entitling him to be in charge of such management.
- Nothing contained in sub-section (1)
shall affect the right of any Director or other person referred to therein to
recover from the oil industrial concern moneys recoverable otherwise than by way
of such compensation.
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