THE ANDHRA SCIENTIFIC COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1982

ACT NO. 71 OF 1982 · Enacted [13th November, 1982.] · 32 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE COMPANY

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

Section 4.General effect of vesting.

Section 5.Company to be liable for certain prior liabilities.

Section 6.Power of Central Government to direct vesting of the undertakings of the Company in a Government company.

PAYMENT OF AMOUNTS

Section 7.Payment of amount.

Section 8.Payment of further amounts.

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 the undertakings of the Company to deliver all assets, etc.

Section 11.Duty of persons to account for assets, etc., in their possession.

Section 12.Accounts and audit.

PROVISIONS RELATING TO THE EMPLOYEES OF THE COMPANY

Section 13.Continuance of employees.

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 the Commissioner.

Section 23.Disbursement of amounts to the Company.

Section 24.Undisbursed or unclaimed amount to be deposited with the general revenue account.

MISCELLANEOUS

Section 25.Act to have overriding effect.

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