THE BIRD AND COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS AND OTHER PROPERTIES) ACT, 1980

ACT NO. 67 OF 1980 · Enacted [27th December, 1980.] · 31 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE COMPANY AND OF SHARES HELD BY THE COMPANY IN THE SPECIFIED COMPANIES

Section 3.Transfer to, and vesting in, the Central Government of the undertakings of the Company.

Section 4.Transfer and vesting of shares held by the Company in the specified companies.

Section 5.General effect of vesting.

Section 6.Central Government or the Government company not to liable for certain prior liabilities.

Section 7.Power of Central Government to direct vesting of the undertakings of the Company in a Government company.

PAYMENT OF AMOUNTS

Section 8.Payment of amounts to the Company and specified companies.

MANAGEMENT, ETC., OF THE UNDERTAKINGS OF THE COMPANY

Section 9.Management, etc., of the undertakings of the Company.

Section 10.Duty of persons in charge of management of undertakings of the Company to deliver all assets, etc.

PROVISION RELATING TO EMPLOYEES OF THE COMPANY

Section 11.Continuance of employees.

Section 12.Provident fund and other funds.

COMMISSIONER OF PAYMENTS

Section 13.Appointment of Commissioner of Payments.

Section 14.Payment by Central Government to the Commissioner.

Section 15.Certain powers of Central Government or Government company.

Section 16.Claims to be made to the Commissioner.

Section 17.Priority of claims.

Section 18.Examination of claims.

Section 19.Admission or rejection of claims.

Section 20.Disbursement of money by Commissioner to claimants.

Section 21.Disbursement of amounts to the Company and possession of certain machinery, equipment, etc.

Section 22.Undisbursed or unclaimed amount to be deposited to the general revenue account.

MISCELLANEOUS

Section 23.Act to have overriding effect.

Section 24.Contracts to cease to have effect unless ratified by the Central Government or Government company.

Section 25.Penalties.

Section 26.Offences by companies.

Section 27.Protection of action taken in good faith.

Section 28.Delegation of powers.

Section 29.Power to make rules.

Section 30.Power to remove difficulties.

Section 31.Repeal and saving.