The Commonwealth Trust, Kozhikode (Acquistion and Transfer of Undertaking) Act, 2012
State Act of Kerala · Act 1 of 201833 provisions
The enactment
| Type | Act |
|---|---|
| Citation | Act 1 of 2018 |
| Year | 2018 |
| Jurisdiction | State of Kerala |
| Status | In force as published by the source |
| Provisions published | 33 |
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- Section 2 Definitions
- Section 3 Acquisition of rights of owner in respect of the undertaking
- Section 4 General effect of vesting
- Section 5 Owner to be liable for certain prior liabilities
- Section 6 State Industrial Development Corporation to form subsidiary corporations
- Section 7 Shares to be issued by the State Industrial Development Corporation for the value of the assets transferred to it by Government
- Section 8 Payment of amount to owner of the undertaking
- Section 9 Payment of further amount
- Section 10 Payment of compensation to owners of properties sold and vested in Government
- Section 11 Management, etc., of the undertaking and the land vested in Government
- Section 12 Duty of persons in charge of management of the undertaking to deliver all assets, etc
- Section 13 Accounts
- Section 14 Employment of certain employees to continue
- Section 15 Provident and other funds
- Section 16 Transfer of employees to Subsidiary Corporation
- Section 17 Appointment of Commissioner of Payments
- Section 18 Payment by the Government to the Commissioner
- Section 19 Claims to be made to the Commissioner
- Section 20 Priority of claims
- Section 22 Admission or rejection of the claims
- Section 23 Disbursement of money by the Commissioner to claimants
- Section 24 Disbursement of amounts to the owner of the undertaking
- Section 25 Undisbursed or unclaimed amounts to be deposited to the general revenue account
- Section 26 Assumption of liability
- Section 27 Act to over-ride all other enactments
- Section 28 Contracts to cease to have effect unless ratified by the State Industrial Development Corporation
- Section 29 Penalties
- Section 30 Offences by companies
- Section 31 Protection of action taken in good faith
- Section 32 Delegation of powers
- Section 33 Power to remove difficulties
- Section 34 Declaration as to the policy of the State
- Section 35 Power to make rules
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