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Section 5

The Anglo-French Textiles Limited (Acquisition and Transfer Oftextile Undertaking) Act, 1986Union territory Act of Puducherry · Act 7 of 1986

(1) Every liability of the owner of the textile undertaking in respect of any period prior to the appointed day, shall be the liability of such owner and shall be enforceable against him and not against the Government or the Corporation.

(2) For the removal of doubt, it is hereby declared that--

(a) save as otherwise expressly provided in this section or in any other section of this act, no liability in relation to the textile undertaking, in respect of any period prior to the appointed day, shall be enforceable against the Government or the Corporation;

(b) no liability of the textile undertaking or any owner thereof for the contravention, before the appointed day, of any provision of law for the time being in force, shall be enforceable against the Government or the Corporation.

Contribution by Government

6. An amount equal to the value of the assets of the textile undertaking transferred to and vested in the Corporation under sub-section (2) of section 3, shall be deemed to be the contribution made by the Government to the Corporation.

CHAPTER – III PAYMENT OF AMOUNT Payment of amount to owner of textile undertaking

Where this provision sits

ActThe Anglo-French Textiles Limited (Acquisition and Transfer Oftextile Undertaking) Act, 1986
Section5
JurisdictionUnion territory of Puducherry
StatusIn force as published by the source

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