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THE INDIAN IRON AND STEEL COMPANY (TAKING OVER OF MANAGEMENT) ACT,1972

Title : THE INDIAN IRON AND STEEL COMPANY (TAKING OVER OF MANAGEMENT) ACT,1972

Year : 1972

ACT NO. 50 OF 1972.

[3rd September, 1972.]


An Act to provide for the taking over of the management of the undertaking of the Indian Iron and Steel Company Limited for a limited period in the public interest and in order to secure the proper management of the undertaking.


CHAPTER I

PRELIMINARY



(1) This Act may be called the Indian Iron and Steel Company (Taking over of Management) Act, 1972.

(2) It shall be deemed to have come into force on the 14th day of July, 1972.


In this Act, unless the context otherwise requires,--

(a) "appointed day" means the 14th day of July, 1972;

1*[(aa) "Board of management" means the Board of management constituted under section 4A;]

(b) "Company or "Indian Iron and Steel Company" means the
Indian Iron and Steel Company Limited, being a company as defined in the Companies Act, 1956 (1 of 1956), having its registered office at Martin Burn House, 12, Mission Row, Calcutta;

(c) "Custodian" means the person appointed under section4 to take over the management of the undertaking of the company;

(d) "Prescribed" means prescribed by rules made under this Act;

(e) "Undertaking", in relation to the company, means the property and assets of the company referred to in sub-section (2) of section 3;

(f) Words and expressions used but not defined in this Act and defined in the Companies Act, 1956 (1 of 1956), shall have the meanings respectively assigned to them in that Act.

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1 Ins. by Act 36 of 1974, s. 2 (w.e.f. 28-6-1974).

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Last updated on July, 2016

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