The Ganges Printing Ink Factory Limited ( Acquisition And Transfer Of Assets ) Act, 1993
west-bengal · 1993
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1(1) This Act may be called the Ganges Printing Ink Factory Limited (Acquisition and Transfer of Assets) Act, 1993
- S. 2Section 2 defines key terms used in the Act, including "assets of the Company" and "appointed day."
- S. 3Section 3 transfers the assets and rights of the Company to the State Government.
- S. 4Section 4 frees acquired assets from prior encumbrances and shifts pre-acquisition liabilities to the original owners, not the government.
- S. 5Section 5 allows the State Government to transfer the assets of the Company to an existing Government Company if terms are met.
- S. 6Section 6 mandates the State Government to pay a specified amount to the Official Liquidator for the acquisition of the Company's assets.
- S. 7Section 7 transfers management of acquired assets to a specified government company or a co-operative society with state approval.
- S. 8Section 8 allows the State Government to transfer the assets of the Company to a Joint Sector Company if terms are met.
- S. 9Section 9 mandates the delivery of the company's assets to the State Government or relevant government entities.
- S. 10Section 10 overrides any conflicting laws or decrees for the Act's provisions.
- S. 11Section 11 protects the State Government and related entities from legal actions for good faith actions under the Act.
- S. 12Section 12 allows the State Government to make regulations and requires them to be presented to the State Legislature for review and potential modification.
- S. 13Section 13 allows the State Government to resolve difficulties in implementing the Act, but only within two years of its publication.
- S. 1983182 The Ganges Printing Ink Factory Limited (Acquisition and Transfer of Assets) Act, 1993