LawgistThe Air Corporations (Transfer of Undertakings and Repeal) Act
3Undertakings of corporations to vest in companies
On such date as the Central Government may, by notification in the Official Gazette, appoint, there shall be transferred to, and vest in,--
(a) Indian Airlines Limited, the undertaking of Indian Airlines; and
(b) Air India Limited, the undertaking of Air India.
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All sections
- 1 Short title and commencement
- 2 Definitions
- 3 Undertakings of corporations to vest in companies
- 4 General effect of vesting of undertakings in the companies
- 5 Licences, etc., to be deemed to have been granted to companies
- 6 Tax exemption or benefit to continue to have effect
- 7 Guarantee to be operative
- 8 Provisions in respect of officers and other employees of corporations
- 9 Power of Central Government to give directions
- 10 Power to remove difficulties
- 11 Repeal of Act 27 of 1953 and cesser of corporations
- 12 Repeal and saving
