The Technicians' Studio Private Limited Act, 1980
west-bengal · 1980
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1This Act may be called the Technicians' Studio Private Limited Short title
- S. 2In this Act, unless the context otherwise requires,— Definitions
- S. 3(1) The State Government shall, by notification, take over the management and control of the Company
- S. 4Section 4 transfers management of the Company to the State Government and suspends existing contracts and rights.
- S. 5Section 5 appoints an Administrator to manage the Company and allows the State Government to assist with additional personnel.
- S. 6Section 6 allows the State Government to acquire the Company within five years, transferring it and employees' terms without compensation.
- S. 7Section 7 details the compensation and appointment of a Tribunal for determining compensation for acquiring a company under the Technicians' Studio Private Limited Act, 1980.
- S. 8Section 8 mandates the State Government to pay compensation and interest to Company stakeholders upon acquisition.
- S. 9Section penalizes wrongful withholding or failure to produce company property or documents, with up to six months' imprisonment and a fine.
- S. 10Section 10 protects the State Government and appointees from legal actions for good faith actions under the Act.
- S. 11The State Government can advance funds to the Company for efficient management, repayable with interest, and prioritized over municipal rates and taxes.
- S. 12Section excludes suspended periods from the limitation period for enforcing certain rights or obligations under the act.
- S. 13Section 13 ensures the provisions of this Act override any conflicting laws or instruments.
- S. 14(1) The State Government may, by notification, make rules for Power to carrying out the purposes of this Act