Act 67 of 1980

The Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980

An Act to provide for the acquisition and transfer of the undertakings of the Bird and Company Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the country and for the acquisition of shares held by the Bird and Company Limited in the specified companies for the purpose of securing to those undertakings the facilities and advantages derived by reason of such shareholding with respect to the operation and functioning of those undertakings and also to enable the Central Government to exercise such control over the affairs of the specified companies as is necessary to ensure that the affairs of those companies are not mismanaged and for matters connected therewith or incidental thereto.

  • Ministry of Steel
  • Enacted 1980-12-27
  • 31 sections
SectionTitle
1 Short title and commencement.Read
2 Definitions.Read
3 Transfer to, and vesting in, the Central Government of the undertakings of the Company.Read
4 Transfer and vesting of shares held by the Company in the specified companies.Read
5 General effect of vesting.Read
6 Central Government or the Government company not to liable for certain prior liabilities.Read
7 Power of Central Government to direct vesting of the undertakings of the Company in a Government c ompany.Read
8 Payment of amounts to the Company and specified companies.Read
9 Management, etc., of the undertakings of the Company.Read
10 Duty of persons in charge of management of undertakings of the Company to deliver all assets, etc .Read
11 Continuance of employees .Read
12 Provident fund and other funds.Read
13 Appointment of Commissioner of Payments.Read
14 Payment by Central Government to the Commissioner.Read
15 Certain powers of Central Government or Government company.Read
16 Claims to be made to the Commissioner.Read
17 Priority of claims.Read
18 Examination of claims.Read
19 Admission or rejection of claims.Read
20 Disbursement of money by Commissioner to claimants.Read
21 Disbursement of amounts to the Company and possession of certain machinery, equipment, etc.Read
22 Undisbursed or unclaimed amount to be deposited to the general revenue account.Read
23 Act to have overriding effect.Read
24 Contracts to cease to have effect unless ratified by the Central Government or Government company .Read
25 Penalties.Read
26 Offences by companies.Read
27 Protection of action taken in good faith.Read
28 Delegation of powers.Read
29 Power to make rules.Read
30 Power to remove difficulties.Read
31 Repeal and saving.Read
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