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42/1980 - The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980 ▶

Act Number: 42

Act Name: The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980

Year: 1980

Enactment Date: 1980-07-19

Long Title: An Act to provide for the acquisition and transfer of the undertakings of Messrs. National Company Limited with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of articles made of jute, which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.

Ministry: Ministry of Textiles

Department:

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

Any money paid to the Commissioner which remains undisbursed or unclaimed on the date immediately preceding the date on which the office of the Commissioner is finally would up, shall be transferred by the Commissioner, before his office is finally wound up, to the general revenue account of the Central Government; but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, and the order, if any, for payment of the claim being treated as an order for the refund of revenue.

Notes:

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