The British India Corporation Limited (Acquisition of Shares) Act, 1981
Central Act · Act 29 of 198121 provisions
The enactment
| Long title | An Act to provide for the acquisition of certain shares of the British India Corporation Limited with a view to securing the proper management of the affairs of the Company and the continuity and development of the production of goods which are vital to the needs of the country and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 29 of 1981 |
| Year | 1981 |
| Jurisdiction | Central |
| Ministry | Ministry of Textiles |
| Status | In force as published by the source |
| Provisions published | 21 |
| Subjects | property |
Full text, provision by provision
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- Section 1 Short title and commencement.
- Section 2 Definitions.
- Section 3 Transfer and vesting of shares of the Company in the Central Government.
- Section 4 Management of the Company.
- Section 5 Payment of amounts.
- Section 6 Appointment of Commissioner of Payments.
- Section 7 Payment by the Central Government to the Commissioner.
- Section 8 Claims to be made to the Commissioner.
- Section 9 Examination of claims.
- Section 10 Admission or rejection of claims.
- Section 11 Disbursement of money by the Commissioner to claimants.
- Section 12 Undisbursed or unclaimed amount to be deposited to the general revenue account.
- Section 13 Power of inspection.
- Section 14 Power of Commissioner to inquire into disputes as to amount.
- Section 15 Deposit of amount in court.
- Section 16 Act to have overriding effect.
- Section 17 Penalties.
- Section 18 Offences by companies.
- Section 19 Limitation of cognizance of offences.
- Section 20 Power to make rules.
- Section 21 Repeal and saving.
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