(1) The Government may, by notification in the Gazette, make rules to carry out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:—
(a) the time within which and the manner in which an intimation referred to in sub-section (4) of section 4 shall be given;
(b) the manner in which money in any provident fund or other fund referred to in section 15 shall be dealt with;
(c) any other matter which is required to be, or may be prescribed.
(3) Every rule made under this Act shall be laid, as soon as may be after it is made, before the Legislative Assembly, while it is in session, for a total period of fourteen days which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, the Legislative Assembly makes any modification in the rule or decides that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.
THE FIRST SCHEDULE [See sections 2(f), 2(g), 4(5) and 8] Name of the undertaking Name of the Owner Amount (in Rupees)
(1) (2) (3) The Handloom Weaving Factory of the Commonwealth Trust India Limited, Mananchira,Kozhikode.
The Commonwealth Trust (India) Limited 500 lakhs (Excluding liabilities) THE SECOND SCHEDULE (See sections 20, 21, 22 and 26) ORDER OF PRIORITIES FOR THE DISCHARGE OF LIABILITIES IN RESPECT OF THE UNDERTAKING
PART I Category 1 Arrears in relation to provident fund, salaries and wages, and other amounts, due to an employee for the pre-take over management period.
PART II-OTHER LIABILITIES (A) POST-TAKEOVER MANAGEMENT PERIOD Category II
(a) Loans advanced by a Bank.
(b) Loans advanced by an Institution other than a Bank.
(c) Any other loan.
(d) Any credit availed of for purposes of trade or manufacturing operations.
Category III
(a) Revenue, taxes, cesses, rates or any other dues to the Central Government or a State Government.
(b) Any other dues.
(B) PRE-TAKEOVER MANAGEMENT PERIOD Category IV Principal amounts of the secured loans advanced by any Nationalised Bank or Public Financial Institution.
Category V Secured loans other than those specified under Category IV Category VI Revenue, taxes, cesses, rates or any other dues to the Central Government, a State Government, a local authority or a State Electricity Board.
Category VII
(a) Any credit availed of for purpose of trade or manufacturing operations.
(b) Any other dues.
Category VIII Interest amounts on the secured loans advanced by any Nationalised Bank or Public Financial Institution.
THE THIRD SCHEDULE [See sections 2(h)] Description of properties sold and unused Name of the Owner Extent Fair Value
(1) (2) (3) (4) Kozhikode Taluk Nagaram Village Resurvey-T S 7-7-128 7-7-131 7-7-132 7-8-134 7-8-135 7-8-137 7-8-139 The Commonwealth Trust (India) Ltd., Kozhikode.
1.5547 Hectare 24,70,000/ Are