The HIND CYCLES LIMITED AND SEN-RALEIGH LIMITED (NATIONALISATION) ACT, 1980

PRELIMINARY

Section 1 — Short title and commencement.

(1) This Act may be called the Hind Cycles Limited and Sen-Raleigh Limited (Nationalisation) Act, 1980.

(2) It shall be deemed to have come into force on the 15th day of October, 1980.

Browse all 36 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 two companies.
  4. 4.General effect of vesting.
  5. 5.Owners of the two Companies to be liable for certain prior liabilities.
  6. 6.Power of Central Government to direct vesting of the undertakings of the two companies in two Government Companies.
  7. 7.Payment of amount.
  8. 8.Payment of further amounts.
  9. 9.Management, etc., of the undertakings of the two companies.
  10. 10.Duty of persons in charge of management of the undertakings of the two companies 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 Central Government or Government companies.
  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 the claims.
  22. 22.Disbursement of money by the Commissioner.
  23. 23.Disbursement of amounts to the two companies.
  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 the Central Government or Government companies.
  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. 33.Repeal and saving.
  34. SCH-THE FIRST SCHEDULE.THE FIRST SCHEDULE
  35. SCH-THE SECOND SCHEDULE.THE SECOND SCHEDULE
  36. SCH-THE THIRD SCHEDULE.THE THIRD SCHEDULE