THE METAL CORPORATION (NATIONALISATION AND MISCELLANEOUS PROVISIONS) ACT, 1976

ACT NO. 100 OF 1976 · Enacted [7th September, 1976.] · 25 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

Section 3.“Undertaking”—meaning of.

TAKING OVER OF MANAGEMENT OF THE UNDERTAKING OF THE METAL CORPORATION

Section 4.Taking over of management of the undertaking of the Metal Corporation.

Section 5.Appointment of Administrator to take over the management of the undertaking.

Section 6.Application of Act 1 of 1956.

ACQUISITION OF THE UNDETAKING OF THE METAL CORPORATION

Section 7.Vesting of the undertaking of the Metal Corporation in the Central Government.

Section 8.Central Government to be the lessee of the State Government.

Section 9.Power of Central Government to direct vesting of the undertaking of the Metal Corporation in a Government company.

PAYMENT OF AMOUNTS

Section 10.Payment of amount for deprivation of management.

Section 11.Payment of amount for acquisition of the undertaking.

Section 12.Time of payment.

MANAGEMENT, ETC., OF THE UNDERTAKING OF THE METAL CORPORATION

Section 13.Management, etc., of the undertaking.

PROVISIONS RELATING TO EMPLOYEES OF THE METAL CORPORATION

Section 14.Provisions relating to employees.

Section 15.Provident and other funds.

MISCELLANEOUS

Section 16.Act to have overriding effect.

Section 17.Contracts in bad faith may be cancelled or varied.

Section 18.Protection of action taken in good faith.

Section 19.Delegation of powers.

Section 20.Penalties.

Section 21.Offences by companies.

Section 22.Power to make rules.

Section 23.Power to remove difficulties.

Section 24.Abolition of Tribunal, etc.

Section 25.Repeal of Ordinance and saving.