Act 41 of 1983

The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act, 1983

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.

  • Ministry of Heavy Industries and Public Enterprises
  • Department of Heavy Industry
  • Enacted 1983-12-25
  • 32 sections
SectionTitle
1 Short title and commencement. RepealedRead
2 Definitions. RepealedRead
3 Transfer to, and vesting in, the Central Government of the undertakings of the Company. RepealedRead
4 General effect of vesting. RepealedRead
5 Central Government or Andrew Yule not to be liable for prior liabilities. RepealedRead
6 Power of the Central Government to direct vesting of the undertakings of the Company in Andrew Yule. RepealedRead
7 Payment of amount. RepealedRead
8 Payment of further amount. RepealedRead
9 Management, etc., of the undertakings of the Company. RepealedRead
10 Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc. RepealedRead
11 Duty of persons to account for assets, etc., in their possession. RepealedRead
12 Continuance of employees. RepealedRead
13 Provident fund and other funds. RepealedRead
14 Appointment of Commissioner of Payments. RepealedRead
15 Payment by the Central Government to the Commissioner. RepealedRead
16 Certain powers of the Central Government or Andrew Yule. RepealedRead
17 Claims to be made to the Commissioner. RepealedRead
18 Priority of claims. RepealedRead
19 Examination of claims. RepealedRead
20 Admission or rejection of claims. RepealedRead
21 Disbursement of money by the Commissioner to claimants. RepealedRead
22 Disbursement of amounts to the Company. RepealedRead
23 Undisbursed or unclaimed amount to be deposited to the general revenue account. RepealedRead
24 Act to have overriding effect. RepealedRead
25 Contracts to cease to have effect unless ratified by the Central Government or Andrew Yule. RepealedRead
26 Protection of action taken in good faith. RepealedRead
27 Delegation of powers. RepealedRead
28 Penalties. RepealedRead
29 Offences by companies. RepealedRead
30 Power to make rules. RepealedRead
31 Power to remove difficulties. RepealedRead
32 Repeal and saving. RepealedRead
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