Section 6
Power of the Central Government to direct vesting of the undertakings of the Company in Andrew Yule. Repealed
The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act, 1983
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the Transformer and Switchgear Limited with a view to securing the better utilisation of the available infrastructure thereof and to modernise and augment the production of transformers, switchgears and other allied electrical equipments by the said undertakings so as to subserve the interests of the general public be ensuring the continued supply of the aforesaid articles which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
(1) Notwithstanding anything contained in sections 3 and 4, the
Central Government may, subject to such terms and conditions as it may think fit to impose,
direct, by notification, that the undertakings of the Company, and the right, title and interest of
the Company in relation to its undertakings, which have vested in the Central Government under
section 3, shall, instead of continuing to vest in the Central Government, vest in Andrew Yule
either on the date of the notification or on such earlier or later date (not being a date earlier than
the appointed day) as may be specified in the notification.
(2) Where the right, title and interest of the Company in relation to its undertakings vest in Andrew Yule under sub-section (1), Andrew Yule shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertakings, and all the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting, be deemed to have become the rights and liabilities of Andrew Yule.
(2) Where the right, title and interest of the Company in relation to its undertakings vest in Andrew Yule under sub-section (1), Andrew Yule shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertakings, and all the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting, be deemed to have become the rights and liabilities of Andrew Yule.