Act Number: 78

Act Name: The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972

Year: 1972

Enactment Date: 1972-12-30

Long Title: An Act to provide for the acquisition and transfer of the undertaking of the Richardson and Cruddas Limited, for the reconstruction of the register of its members and for matters connected therewith or incidental thereto.

Ministry: Ministry of Heavy Industries and Public Enterprises

Department: Department of Heavy Industry

Section 10: Management of the old company.
    (1) The affairs of the old company shall be managed by a Custodian to be appointed by the Central Government in this behalf:
     Provided that the Central Government may, if the Custodian declines to become, or to continue to function as, the Custodian or if it is of opinion that it is necessary in the interests of the old company so to do, appoint any other person as the Custodian of the old company.
     (2) The Custodian appointed under sub-section (1) shall receive, from the funds of the old company, such emoluments as the Central Government may specify in this behalf.
     (3) The Custodian shall hold office during the pleasure of the Central Government.
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