LawgistThe Goa, Daman and Diu Reorganisation Act
40Assets and liabilities of State undertakings
The assets and liabilities relating to any commercial undertaking of the existing Union territory shall,—
(a) if the undertaking is located in the district of Goa of the existing Union territory, pass to the State of Goa;
(b) if the undertaking is located in the district of Goa, as well as the districts of Daman and Diu, of the existing Union territory, be divided in such manner as may be agreed upon between the State of Goa and the Union before the expiration of one year from the appointed day, or in default of such agreement, as the Central Government may, by order, direct.
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ASSESTS AND LIABILITIES
- 34 Definition
- 35 Land and goods
- 36 Cash balances
- 37 Arrears of taxes
- 38 Right to recover loans and advances
- 39 Investments in and loans, etc., to certain corporate bodies
- 40 Assets and liabilities of State undertakings
- 41 Refund of taxes collected in excess
- 42 Certain deposits
- 43 Provident fund
- 44 Pensions granted by the Administrator, etc
- 45 Contracts
- 46 Liability in respect of actionable wrong
- 47 Liability as guarantor of co-operative societies
- 48 Items in suspense
- 49 Residuary provision
- 50 Apportionment of assets or liabilities by agreement
- 51 Power of Central Government to order allocation or adjustment in certain cases
