The Jogighopa (Assam) Unit of Ashok Paper Mills Limited (Acquisition and Transfer of Undertaking) Act, 1990
assam · 1990
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 2In this Act, unless the context otherwise -efinitions
- S. 5Anv licence, permit or other instrument gran- ments not to ted
- S. 13Section mandates government company to maintain company's accounts per Companies Act, 1956.
- S. 14(1) Every person who has been immediately f c>ertain before the appointed day, employed in the under- t“ ?onytinue
- S. 15Section 15 transfers funds from the company's existing employee welfare funds to the Government Company upon asset transfer.
- S. 16(j) ygg state Government shall, for the oner of pay-purpose ot disbursing the amounts payable under menu
- S. 21Section 21 prioritizes and examines claims for compensation under specified order, withholding lower category claims if funds are insufficient.
- S. 22(1) After examining the claims with reference of c S * t o
- S. 23After admitting a claim under this Act theCommiS y- the amount due in respect of such claim shall be sio n er to c ia
- S. 24Section 24 outlines the disbursement of remaining funds and lawful possession of non-company property post-acquisition.
- S. 25Section 25 transfers undisbursed or unclaimed funds to the state's general revenue account.
- S. 26For the purpose of ascertaining whether any wspectioc by pe rs° n claiming p ayment under this Act, is entitled ^ ommi
- S. 30Section 30 penalizes wrongful withholding, retention, or destruction of company property or documents by individuals.
- S. 31Section 31 prohibits courts from taking action on offenses under this Act without prior government sanction, holding company officers liable for company offenses, and exempting officers proving lack of knowledge or due diligence.
- S. 36The section allows the State Government to resolve difficulties in implementing the Act, but only within two years of its publication.
- S. 37Section 37 repeals the Jogighopa (Assam) Unit of Ashok Paper Mills Limited (Acquisition and Transfer of Undertaking) Ordinance, 1990, while maintaining actions taken under it as valid under this Act.