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The Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980

Central

An Act to provide for the acquisition and transfer of the undertakings of the Bird and Company Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the country and for the acquisition of shares held by the Bird and Company Limited in the specified companies for the purpose of securing to those undertakings the facilities and advantages derived by reason of such shareholding with respect to the operation and functioning of those undertakings and also to enable the Central Government to exercise such control over the affairs of the specified companies as is necessary to ensure that the affairs of those companies are not mismanaged and for matters connected therewith or incidental thereto.

Act number
67 of 1980
Ministry
Ministry of Steel
Enacted
27 Dec 1980

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

31 sections

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