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The British India Corporation Limited (Acquisition of Shares) Act

An Act to provide for the acquisition of certain shares of the British India Corporation Limited with a view to securing the proper management of the affairs of the Company and the continuity and development of the production of goods which are vital to the needs of the country and for matters connected therewith or incidental thereto.
1981
List of Chapters & Sections

  1. PRELIMINARY

  2. 1
     Short title and commencement
  3. 2
     Definitions

  • ACQUISITION OF THE SHARES OF THE COMPANY

  • 3
     Transfer and vesting of shares of the Company in the Central Government
  • 4
     Management of the Company
  • 5
     Payment of amounts
  • 6
     Appointment of Commissioner of Payments
  • 7
     Payment by the Central Government to the Commissioner
  • 8
     Claims to be made to the Commissioner
  • 9
     Examination of claims
  • 10
     Admission or rejection of claims
  • 11
     Disbursement of money by the Commissioner to claimants
  • 12
     Undisbursed or unclaimed amount to be deposited to the general revenue account
  • 13
     Power of inspection
  • 14
     Power of Commissioner to inquire into disputes as to amount
  • 15
     Deposit of amount in court

  • MISCELLANEOUS

  • 16
     Act to have overriding effect
  • 17
     Penalties
  • 18
     Offences by companies
  • 19
     Limitation of cognizance of offences
  • 20
     Power to make rules
  • 21
     Repeal and saving