(2) On. the appointed day, all the shares in; the capital of Caltex Oil Refining shall, by virtue of this Ordinance, stand transferred to, and vested in, the Central Government.
(2) All the shares which have vested in the Central Government under sub-section (1) shall, by force of such vesting, be freed and discharged of all trusts, liabilities, obligations, mortgages, charges, liens and other encumbrances affecting them.
(3) Any dividend payable by Caltex Oil Refining in respect of any period beginning from the 1st day of January, 1976, shall be payable to the Central Government.
Transfer and vesting of shares Caltex Oil- Refining in the Central Government.
4. (/) For the purpose of enabling Caltex Oil Refining to function as a Government company, the Central Government may, by notification, make such amendments in the memorandum and articles of association of that company and such other provisions as it may consider necessary.
(?) Any amendments in the memorandum and articles of association of Caltex Oil Refining and any other provisions made under sub-section
(1) shall have effect notwithstanding anything contained in the Companies Act, 1956.1 of 1956.
Management of CaMex Oil Refining.
CHAPTER III ACQUISITION OV THE UNDERTAKINGS OF CALTEX (INDIA) IN INDIA
5. On the1 appointed day, the right, title and interest of Caltex (India) in relation to its undertakings in India shall, by virtue of this Ordinance, stand transferred to, and shall vest in, the Central Government.
Transfer and vesting in the Central Government of the undertakings of Caltex (India) in India.