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The Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act

An Act to provide for the acquisition and transfer of the undertakings of the Andhra Scientific Company Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continuity of production of scientific instruments which are vital to the needs of the country and for matters connected therewith or incidental thereto.
1982
List of Chapters & Sections

  1. PRELIMINARY

  2. 1
     Short title and commencement
  3. 2
     Definitions

  • ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE COMPANY

  • 3
     Transfer to, and vesting in, the Central Government of the undertakings of the Company
  • 4
     General effect of vesting
  • 5
     Company to be liable for certain prior liabilities
  • 6
     Power of Central Government to direct vesting of the undertakings of the Company in a Government company

  • PAYMENT OF AMOUNTS

  • 7
     Payment of amount
  • 8
     Payment of further amounts

  • MANAGEMENT, ETC., OF THE UNDERTAKINGS OF THE COMPANY

  • 9
     Management, etc., of the undertakings of the Company
  • 10
     Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc
  • 11
     Duty of persons to account for assets, etc., in their possession
  • 12
     Accounts and audit

  • PROVISIONS RELATING TO THE EMPLOYEES OF THE COMPANY

  • 13
     Continuance of employees
  • 14
     Provident fund and other funds

  • COMMISSIONER OF PAYMENT

  • 15
     Appointment of Commissioner of Payments
  • 16
     Payment by Central Government to the Commissioner
  • 17
     Certain powers of the Central Government or Government company
  • 18
     Claims to be made to the Commissioner
  • 19
     Priority of claims
  • 20
     Examination of claims
  • 21
     Admission or rejection of claims
  • 22
     Disbursement of money by the Commissioner
  • 23
     Disbursement of amounts to the Company
  • 24
     Undisbursed or unclaimed amount to be deposited with the general revenue account

  • MISCELLANEOUS

  • 25
     Act to have overriding effect
  • 26
     Contracts to cease to have effect unless ratified by Central Government or Government company
  • 27
     Penalties
  • 28
     Offences by companies
  • 29
     Protection of action taken in good faith
  • 30
     Delegation of powers
  • 31
     Power to make rules
  • 32
     Power to remove difficulties