THE BRITISH INDIA CORPORATION LIMITED (ACQUISITION OF SHARES) ACT, 1981

ACT NO. 29 OF 1981 · Enacted [11th September, 1981.] · 21 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

ACQUISITION OF THE SHARES OF THE COMPANY

Section 3.Transfer and vesting of shares of the Company in the Central Government.

Section 4.Management of the Company.

Section 5.Payment of amounts.

Section 6.Appointment of Commissioner of Payments.

Section 7.Payment by the Central Government to the Commissioner.

Section 8.Claims to be made to the Commissioner.

Section 9.Examination of claims.

Section 10.Admission or rejection of claims.

Section 11.Disbursement of money by the Commissioner to claimants.

Section 12.Undisbursed or unclaimed amount to be deposited to the general revenue account.

Section 13.Power of inspection.

Section 14.Power of Commissioner to inquire into disputes as to amount.

Section 15.Deposit of amount in court.

MISCELLANEOUS

Section 16.Act to have overriding effect.

Section 17.Penalties.

Section 18.Offences by companies.

Section 19.Limitation of cognizance of offences.

Section 20.Power to make rules.

Section 21.Repeal and saving.