The ANDHRA SCIENTIFIC COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1982

PRELIMINARY

Section 1 — Short title and commencement.

(1) This Act may be called the Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982.

(2) The provisions of sections 27 and 28 shall come into force at once and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of July, 1981.

Browse all 33 sections
  1. 1.Short title and commencement.
  2. 2.Definitions.
  3. 3.Transfer to, and vesting in, the Central Government of the undertakings of the Company.
  4. 4.General effect of vesting.
  5. 5.Company to be liable for certain prior liabilities.
  6. 6.Power of Central Government to direct vesting of the undertakings of the Company in a Government company.
  7. 7.Payment of amount.
  8. 8.Payment of further amounts.
  9. 9.Management, etc., of the undertakings of the Company.
  10. 10.Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc.
  11. 11.Duty of persons to account for assets, etc., in their possession.
  12. 12.Accounts and audit.
  13. 13.Continuance of employees.
  14. 14.Provident fund and other funds.
  15. 15.Appointment of Commissioner of Payments.
  16. 16.Payment by Central Government to the Commissioner.
  17. 17.Certain powers of the Central Government or Government company.
  18. 18.Claims to be made to the Commissioner.
  19. 19.Priority of claims.
  20. 20.Examination of claims.
  21. 21.Admission or rejection of claims.
  22. 22.Disbursement of money by the Commissioner.
  23. 23.Disbursement of amounts to the Company.
  24. 24.Undisbursed or unclaimed amount to be deposited with the general revenue account.
  25. 25.Act to have overriding effect.
  26. 26.Contracts to cease to have effect unless ratified by Central Government or Government company.
  27. 27.Penalties.
  28. 28.Offences by companies.
  29. 29.Protection of action taken in good faith.
  30. 30.Delegation of powers.
  31. 31.Power to make rules.
  32. 32.Power to remove difficulties.
  33. SCH-THE SCHEDULE.THE SCHEDULE