The Oil Industry (Development) Act, 1974
Central · 1974
- S. 1Short title and extent.
- S. 2Definitions.
- S. 3Establishment and constitution of the Board.
- S. 4Conditions of service of members.
- S. 5Secretary, officers, consultants and employees of the Board.
- S. 6Functions of the Board.
- S. 7Principles and conditions of assistance.
- S. 8Power to call for repayment before agreed period.
- S. 9Special provisions for enforcement of claims by the Board.
- S. 10Power of Board to appoint Directors of oil industrial concern.
- S. 11Effect of notified order appointing Director.
- S. 12Powers and duties of the Directors.
- S. 13No right to compensation for loss of office.
- S. 14Application of Act 1 of 1956.
- S. 15Duties of excise.
- S. 16Crediting of proceeds of duty to Consolidated Fund of India.
- S. 17Grants and loans by the Central Government.
- S. 18Oil Industry Development Fund.
- S. 19Power to borrow.
- S. 20Accounts and audit.
- S. 21Power to require persons engaged in oil industry to maintain and produce books, accounts and records relating to business and inspection thereof.
- S. 22Directions by the Central Government.
- S. 22AOmitted..
- S. 23Penalties
- S. 24Other penalties.
- S. 25Offences by companies.
- S. 26Jurisdiction of courts.
- S. 27Previous sanction of Central Government.
- S. 28Protection of action taken in good faith.
- S. 29Dissolution of the Board
- S. 30Act to have overriding effect.
- S. 31Power to make rules.