Amendment status not verified — confirm the current text below against the official source.
In this Act, unless the context otherwise -efinitions. r e q u i r e s._ (a) “appointed day” means the day on which this Act comes into force; (b) “book or paper” means books of accounts deeds, vouchers, writings and documents and shall include any books of accounts, deeds, vouchers and documents having bearing or relation with the existing facts or circumstances; (c) '‘Commissioner” means Commissioner of pay ments appointed under section 16; (d) "Company” means the Jogighopa (Assam) Unit of Ashok Paper Mills Limited being a Com- i Ofi956 pany incorporated under the Companies Act, 1956, having its registered office at Calcutta and register ed as such. 780 THE ASSAM GAZETTE EXTRAORDINARY, SEPT. 25, 1990 (c) ‘‘Co urt” With respect to any offence under .his Act, means the Court of a Magistrate of First Class having jurisdiction in a district, but does not include the High Court in the exercise of its ori ginal jurisdiction; (f) ‘'Governm ent Company’’ means a Company formed, after the app ointed day, by the State Govern- r of 1956 m e n t a n d r e gis te r £ d under the Com panies Act, 1956 and shall include a Com pany, if any, formed by the State Government earlier for the specific pu r pose cf acquisition and management of the indus trial undertaking of the Com pany registered under the Companies Act, 1956; (g) “N otification” means a notification published in the Official Gazette; (h) “Prescribed” means prescribed by rules under this Act; (i) “State Government’’ means the Government of Assam; (j) words and expressions used herein and not defined but defined in the Industries (Development and Regulation) Act, 1951 and the Com panies Act, 65 oi i95i j956, have the meanings respectively assigned to them in these Acts* chapter- I I Acquisition and transfer of the undertakin g of the company. Ind” vestir,” appointed day, the undertakin g o f the in thTstatlCompany; and the right, title and interest of the under ^ o m Pany in relation to its undertaking, shall, by /Iking™ the virtue of this Act, be transferred to, and shall vest company. in , the State Government : Provided that noth ing herein conta ine d or con tained in any oth er law for the time being in force or in the Memorandum or Articles of Association of the Company shall preclude from transferring and vesting the undertaking of the Company to the State Government or to a Government Company, as the case may be- f'HE ASSAM GAZETTE. EXTRAORDINARY, SEPT. 25, !990 781 « undertaking of the Company shall be ve^ng0 deemed to include all assets, rights, lease holds, powers, authorities and privileges, and all prope rties movable and immovable including lands, buil dings, workshops, goods and chattels including stores, machineries and equipments vehicles, office furniture, books and stationery, cash balances including cash in hand, cheques, demand drafts, reserved funds, investments, book debts and all other rights and interests in, or arising out of such properties as were, immediately before the appointed day, in the ownership, possession or control of the undertaking of the company, whether within or outside India and all other books and papers of accounts, regi sters and all other documents of whatever nature relating thereto. (2) All properties and assets as aforesaid which have vested in the State Government under section 3 shall, by force of such vesting be freed and discharged from any trust, obligation, mortgage, charge, lien and other encumbrances affecting it, and by force of such vesting any attachment, injunc tion or any decree or order of any court or other authority restricting the use of such property or assets in any manner or appointing any receiver in respect of the whole or any part of such property or assets shall be deemed to have been withdrawn. (3) Every mortgage of any property which has vested under this Act in the State Government and every person holding any charge, lien or other interest in or in relation to, any such property shall give, within such time and such manner as may be prescribed, an intimation to the State Go vernment or to Commission or any such officer as may be appointed by the State Government in that behalf, of such mortgage, charge, lien or other interest. (4) The mortgage of any property or any other person holding any charge, lien or other interest in, or in relation to, any such property referred to in sub-section (3) shall be entitled to claim, in accordance with his rights and interests payment of the mortgage money or other dues in whole, or 782 THE ASSAM GAZETTE, EXTRAORDINARY, SEPT 25, 1990 in part, out of the amount of compensation deter mined under section 8 and also out of the monies determined under section 9 but no such mortgage, charge, lien or other interests shall be enforceable against any property which has vested in the State Government. (5) If on the appointed day, any suit appeal or other proceeding by or against the Company, of whatever nature in relation to any property which has ves ted in the State Government, under section 3, is pending, the same shall not abate, be disconti nued or be, in any way prejudicially affected by reason of the transfer of the undertaking of the Company or of anything contained in this Act, but the suit, appeal or other proceeding may be con tinued, prosecuted or enforced by or against the Company. Licences an d