LawgistThe Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act
16Provisions relating to directors
(1) Every person holding office as a director of a dissolved company immediately before the appointed day shall, on that day, cease to hold office as such director.
(2) Every person, being a director in whole-time employment of a dissolved company, immediately before the appointed day, shall continue to be an employee of the corresponding unit of the Integral Company with such designation and on such terms and conditions as may be determined by the Integral Company.
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PROVISIONS RELATING TO OFFICERS AND EMPLOYEES
- 14 Provisions relating to officers and other employees of dissolved companies
- 15 Provisions relating to officers and employees of transferred units
- 16 Provisions relating to directors
- 17 Provision relating to auditors
- 18 Compensation for transfer not payable
- 19 Provident Fund
- 20 Gratuity, welfare and other funds
