(1) This Act may be called the India Belting and Cotton Mills Short tide Limited (Acquisition and Transfer of Undertakings) Act, 1992. and commence-
(2) It shall be deemed to have come into force on the 16th day of ment.
November, 1992.
225 The India Belting and Cotton Mills Limited (Acquisition and Transfer of Undertakings) Act, 1992.
[West Ben. Act (Chapter L.—Preliminary.—Section 2.—Chapter IL—Acquisition and Transfer of the undertakings of the Company.—Sections 3, 4.)
Definitions.
Transfer to, and vesting in, State Government of the undertakings of the Company.
General effect of vesting.
2. In this Act, unless the context otherwise requires,—
(a) "appointed day" means the date on which this Act comes into force;
(b) "Commissioner" means the Commissioner of Payments appointed under section 15;
(c) "Company" means the India Belting and Cotton Mills Limited, being a company as defined in the Companies Act, 1 of 1956.
1956, and having its registered office at 15, Satish Chandra Ghosh Lane, Serampore, Hooghly;
(d) "date of taking over of management of the undertakings of the Company" means the 6th day of September, 1974;
(e) "existing Government company" means a Government company which is carrying on business on the appointed day;
(0 "new Government company" means a Government company formed and registered on or after the appointed day;
(g) "notification" means a notification published in the Official Gazette;
(h) "prescribed" means prescribed by rules made under this Act;
(i) "specified date" means such date as the State Government may, for the purpose of any of the provisions of this Act, by notification, specify, and different dates may be specified for different provisions of this Act;
(j) words and expressions used herein and not defined, but defined in the Companies Act, 1956, have the meanings respectively assigned to them in that Act.
CHAPTER II • Acquisition and Transfer of the undertakings of the Company
3. On the appointed day, the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, stiall, by virtue of this Act, stand transferred to, and vest in, the State Government.