THE BRITANNIA ENGINEERING COMPANY LIMITED (MOKAMEH UNIT) AND THE ARTHUR BUTLER AND COMPANY (MUZAFFARPORE) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1978

ACT NO. 41 OF 1978 · Enacted [8th December, 1978.] · 33 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

ACQUISITION AND TRANSFER OF MOKAMEH UNIT AND UNDERTAKINGS OF ARTHUR BUTLER AND COMPANY

Section 3.Vesting in the Central Government of Mokameh unit and undertakings of Arthur Butler and Company.

Section 4.General effect of vesting.

Section 5.Power of Central Government to direct vesting of Mokameh unit and the undertakings of Arthur Butler and Company in a Government company.

Section 6.Britannia Engineering Company and Arthur Butler and Company to be liable for certain prior liabilities.

PAYMENT OF AMOUNT

Section 7.Payment of amount.

Section 8.Payment of further amount.

MANAGEMENT, ETC., OF MOKAMEH UNIT AND THE UNDERTAKINGS OF ARTHUR BUTLER AND COMPANY

Section 9.Management, etc., of Mokameh unit and the undertakings of Arthur Butler and Company.

Section 10.Duty to deliver possession of Mokameh unit and undertakings of Arthur Butler and Company.

Section 11.Duty of the companies to furnish particulars.

Section 12.Duty of persons in charge of management of Mokameh unit or undertakings of Arthur Butler and Company to deliver assets, etc.

PROVISIONS RELATING TO EMPLOYEES OF MOKAMEH UNIT AND OF ARTHUR BUTLER AND COMPANY

Section 13.Employment of employees to continue.

Section 14.Provident fund and other funds.

COMMISSIONER OF PAYMENTS

Section 15.Appointment of Commissioner of Payments.

Section 16.Payment by Central Government to the Commissioner.

Section 17.Certain powers of the Central Government or Government company.

Section 18.Claims to be made to the Commissioner.

Section 19.Priority of claims.

Section 20.Examination of claims.

Section 21.Admission or rejection of claims.

Section 22.Disbursement of money by Commissioner.

Section 23.Disbursement of amounts to Britannia Engineering Company and Arthur Butler and Company.

Section 24.Undisbursed or unclaimed amount to be deposited with the General Revenue Account.

MISCELLANEOUS

Section 25.Act have overriding effect.

Section 26.Contracts to cease to have effect unless ratified by the Central Government or the Government company.

Section 27.Penalties.

Section 28.Offences by companies.

Section 29.Protection of action taken in good faith.

Section 30.Delegation of Powers.

Section 31.Power to make rules.

Section 32.Power to remove difficulties.

Section 33.Declaration as to the policy of the State.