Amendment status not verified — confirm the current text below against the official source.
On the commencement of this Act, the non-statutory Board shall stand dissolved, and – (i) all its assets rights, powers, authorities and privileges and all property, movable and immovable, cash balances, reserve funds, book debts, investments and all other rights and interests in, or arising out of, such property as were, immediately before such commencement in the ownership, possession, power or control of such Board shall vest in and stand transferred to the Board; (ii) all borrowings, liabilities and obligations of whatever kind subsisting in relation to the non-statutory Board immediately before the commencement of this Act, shall stand transferred to the Board; (iii) all loans, grants and financial assistance sanctioned by the Government or by the Commission or any other authority to the non-statutory Board shall be deemed to be loans, grants and financial assistance sanctioned to the Board and shall be the liability of the Board; 233 (iv) all contracts, deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature in relation to the non-statutory Board subsisting on and having effect immediately before the commencement of this Act and to which the non-statutory Board is a party or which are in its favour shall be of as full force and effect against or in favour of the Board and may be enforced or acted upon as fully and effectively as if in the place of the non-statutory Board, the Board had been a party thereto or as if they had been issued in favour of the Board. ______ STATEMENT OF OBJECTS AND REASONS FOR ACT NO. 11 OF 1980 The Government of Puducherry has constituted a non-statutory Board called the "Khadi and Village Industries Board, Puducherry", with a view to promoting and developing khadi and village industries in the union territory of Puducherry. The board is vested with powers to prepare and organise programmes for the production and development of khadi and village industries, and to deal with other matters incidental thereto. It has, however, been found by experience that the Board can function more effectively only if it is made a statutory body, vested with powers executive, administrative and financial, for the proper development of khadi and village industries. The present Bill seeks to achieve he above object. _____ STATEMENT OF OBJECTS AND REASONS FOR ACT NO.14 OF 1994 In accordance with the existing provisions of the Puducherry Khadi and Village Industries Board Act, 1980, the Government has been consulting the Khadi and Village Industries Commission, while appointing the Chairman, Vice-Chairman, Secretary to the Board and Financial Advisor-cum-Chief Accounts Officer in the Puducherry Khadi and Village Industries Board, Puducherry. The Khadi and Village Industries Commission have reviewed the need for such consultation and suggested to dispense with the formality of amendment of sections 4(2), 4(3), 5 and 11(2), and that whenever there is a necessity for the appointment of Chairman, Vice-Chairman, Secretary and Financial Advisor-Cum-Chief Accounts Officer, the Government of Puducherry can make such appointments directly without consultation with the Commission.