Kerala Sick Textile Undertakings(Acquisition and Transfer of Undertakings) Act, 1985(27 of 1985)
State Act of Kerala · Act 27 of 198535 provisions
The enactment
| Type | Act |
|---|---|
| Citation | Act 27 of 1985 |
| Year | 1985 |
| Jurisdiction | State of Kerala |
| Status | In force as published by the source |
| Provisions published | 35 |
| Subjects | property |
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- Section 1 Short title and commencement
- Section 2 Definitions
- Section 3 Acquisition of the rights of owners in respect of sick textile undertakings
- Section 4 General effect of vesting
- Section 5 Owner to the liable for certain prior liabilities
- Section 6 State Textile Corporation to form subsidiary corporations
- Section 7 Shares to be issued by the State Textile Corporation for the value of the assets transferred to it by State Government
- Section 8 Payment of amount to owners of sick textile undertakings
- Section 9 Payment of further amount
- Section 10 Management, etc., of sick textile undertakings
- Section 11 Duty of persons in charge of management of sick textile undertakings to deliver all assets, etc
- Section 12 Accounts
- Section 13 Employment of certain employees to continue
- Section 14 Provident and other funds
- Section 15 Transfer of employees to subsidiary Textile Corporation
- Section 16 Appointment of Commissioners of Payments
- Section 17 Payment by State Government to the Commissioner
- Section 18 Claims to be made to the Commissioner
- Section 19 Priority of claims
- Section 20 Examination of claims
- Section 21 Admission or rejection of claims
- Section 22 Disbursement of money by the Commissioner to claimants
- Section 23 Disbursement of amounts to the owners of sick textile undertaking
- Section 24 Undisbursed or unclaimed amounts to be deposited to the general revenue account
- Section 25 Assumption of liability
- Section 26 Act to over-ride all other enactments
- Section 27 Contracts to cease to have effect unless ratified by State Textile Corporation
- Section 28 Penalties
- Section 29 Offence by companies
- Section 30 Protection of action taken in a good faith
- Section 31 Delegation of powers
- Section 32 Power to remove difficulties
- Section 33 Declaration as to the policy of the State
- Section 34 Power to make rules
- Section 35 Repeal and Saving
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