GANESH FLOUR MILLS COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT 1984
THE GANESH FLOUR MILLS COMPANY LIMITED (ACQUISITION AND TRANSFEROF UNDERTAKINGS) ACT, 1984
ACT No. 16 OF 1984.
30th March, 1984
An Act to provide for the acquisition and transfer of the right,title and interest of certain undertakings of the Ganesh Flour Mills CompanyLimited with a view to sustaining and strengthening the nucleus of public ownedor controlled units required for ensuring supply of wholesome vanaspathi andrefined edible oils, nutritious foods and other consumer commodities to the publicat reasonable prices and thereby to given effect to the policy of the Statetowards securing the principles specified in clauses (b) and (c) of article 39of the Constitution.
WHEREAS the Ganesh Flour MillsCompany Limited has through the Ganesh Flour Mills been engaged mainly in themanufacture and production of certain commodities, namely, vanaspathi, refinededible oils, various types of nutritious foods and other consumer commoditieswhich are essential to the needs of the community;
AND WHEREAS the management ofthe Ganesh Flour Mills was taken over by the Central Government under theIndustries (Development and Regulation) Act.1951 (65 of 1951);
AND WHEREAS it is necessary toacquire the undertakings of the Ganesh Flour Mills Company Limited in relationto the Ganesh Flour Mills for sustaining and strengthening the nucleus ofpublic owned or controlled units required for ensuring supply of wholesomevanaspati, refined edible oils, various of nutritious foods and other consumercommodities to the public at reasonable prices;
AND WHEREAS Suchacquisition is for giving effect to the policy of the State Towards securingthe principles specified in clauses (b) and (c) of article 39 of theConstitution;
Be it enacted by Parliament inthe Thirty–fifth Year of the Republicof India as follows: –
1.Short title and commencement: (1) This Act may be called theGanesh Flour Mills Company Limited (Acquisition and Transfer of Undertakings)Act, 1984.
(2) It shall be deemed to havecome into force on the 28th day of January, 1984.
2.Definitions: In this Act, unless the context otherwise requires:
(a) "appointedday" means the 28th day of January, 1984;
(b) "Commissioner"means the Commissioner of Payments appointed under Section 14;
(c) "Company" meansthe Ganesh Flour Mills Company Limited, Delhi, acompany within the meaning of the Companies Act, 1956, and having itsregistered office at Subzi Mandi, Delhi;
(d) "date of takingover" means the date on which the management of the Ganesh Flour Mills ofthe Company was taken over by the Board of Management by virtue of the Order ofthe Government of India in the late Ministry of Industrial Development No.S.O.695(e)/18AA/IDRA/72, dated the 3rd November, 1972made under sub–section (1) of section 18AA of the Industries(Development and Regulation) Act, 1951;
(e) "Ganesh FlourMills" means–
(i) theDelhi Vanaspati Factory, Delhi;
(ii) theHindustan Breakfast Food Manufacturing Factory, New Delhi,including the Ganesh Electrical Factory, NewDelhi which is interlinked with it by reason of itslocation, common services and infrastructure;
(iii) theKanpur Vanaspati Factory, Kanpur;and
(iv) theSolvent Extraction Plant; Bombay;
(f) "notification"means a notification published in the Official Gazette;
(g) "prescribed"means prescribed by rules made under this Act;
(h) "specified date",in relation to any provision of this Act, means such date as the CentralGovernment may, by notification, specify, for the purpose of that provisions anddifferent dates may be specified for different provisions of this Act;
(i) "theGovernment company" means the Government company in which the Ganesh FlourMills are directed to vest under sub–section (1) of section 5;
(j) wordsand expressions used herein and not defined out defined in the Companies Act,1956, have the meanings, respectively, assigned to them in that Act.
ACQUISITION AND TRANSFER OF GANESH FLOUR MILLS
3.Transfer to, and vesting in, theCentral Government of Ganesh Flour Mills: On the appointed day, the Ganesh Flour Mills andthe right, title and interest of the Company in relation to the Ganesh FlourMills, shall, by virtue of this Act, stand transferred to, and shall vest in,the Central Government.
4.General effect of vesting: (1) The Ganesh Flour Millsshall be deemed to include all assets, rights, lease–holds, powers,authorities and privileges, and all property, movable and immovable, includinglands, buildings, workshops, stores, instruments, machinery and equipment, cashbalances, cash on hand, reserve funds, investments and book debts pertaining tothe Ganesh Flour Mills and all other rights and interests in, or arising outof, such property as were immediately before the appointed day in theownership, possession, power or control of the Company in relation to theGanesh Flour Mills, whether within or outside India, and all books of account,registers and other documents of whatever nature relating thereto.
(2) All properties as aforesaidwhich have vested in the Central Government under section 3 shall, by force ofsuch vesting, be freed and discharged from any trust, obligation, mortgage,charge, lien and all other incumbrances affecting them, and any attachment,injunction or decree or order of any court or other authority, restricting theuse of such properties in any manner or appointing any receiver it respect ofthe whole or any part of such properties shall be deemed to have beenwithdrawn.
(3) Every mortgagee of anyproperty which has vested under this Act in the Central Government and everyperson holding any charge, lien or other interest in, or in relation to, anysuch property shall give, within such time and in such manner as may beprescribed, an intimation to the commissioner of such mortgage, charge, lien orother interest.
(4) For the removal of doubts,it is hereby declared that the mortgagee of any property referred to in sub–section(3) or any other person holding any charge, lien or other interest in, or inrelation to, any such property shall be entitled to claim, in accordance withhis rights and interests, payment of the mortgage money or other dues, in wholeor in part, out of the amounts specified in section 7, but no such mortgage,charge, lien or other interest shall be enforceable against any property whichhas vested in the Central Government.
(5) Any licence or otherinstrument granted to the Company in relation to the Ganesh Flour Mills whichhas vested in the Central Government under section 3 at any time before theappointed day and in force immediately before that day shall continue to be inforce on and after such day in accordance with its tenor in relation to, andfor the purposes of the Ganesh Flour Mills, and, on and from the date ofvesting of the Ganesh Flour Mills under section 5 in a Government company, thatGovernment company shall be deemed to the substituted in such licence or otherinstrument as if such licence or other instrument had been granted to thatGovernment company and that Government company shall hold it for the remainderof the period for which the Company to which it was granted would have held itunder the terms thereof.
(6) If, on the appointed day,any suit, appeal or other proceeding of whatever nature instituted or preferredby or against the Company, in relation to the Ganesh Flour Mills, is pending,the same shall not abate, be discontinued or be, in any way, prejudiciallyaffected by reason of the transfer of the Ganesh Flour Mills or of anythingcontained in this Act, but the suit, appeal or other proceeding may becontinued, prosecuted or enforced by or against the Central Government or,where the Ganesh Flour Mills vest in a Government company under section 5, byor against the Government company.
5.Power of Central Governmentto direct vesting of Ganesh Flour Mills in a Government company:(1) Notwithstanding anythingcontained in section 3 and 4, the Central government may, if it is satisfiedthat a Government company is willing to comply, or has complied, with suchterms and conditions as that Government may think fit to impose, direct, bynotification, that the Ganesh Flour Mills and the right, title and interest ofthe Company in relation to the Ganesh Flour Mills which have vested in theCentral Government under section 3, shall, instead of continuing to vest in theCentral Government, vest in that Government company either on the date of thenotification or on such earlier or later date (not being a date earlier thanthe appointed day) as may be specified in the notification.
(2) Where the right, title andinterest in relation to the Ganesh Flour Mills vest in a Government companyunder sub–section (1), the Government company shall, on and from thedate of such vesting, be deemed to have become the owner of the Ganesh FlourMills and all the rights and liabilities for the Central Government in relationto the Ganesh Flour Mills shall, on and from the date of such vesting, bedeemed to have been the rights and liabilities, respectively of the Governmentcompany.
6.The Company to be liable for certainprior liabilities: (1) Every liability, other than the liability specified under sub–section(2), of the Company in relation to the Ganesh Flour Mills in respect of anyperiod prior to the appointed day, shall be the liability of the Company andshall be enforceable against it and not against the Central Government or,where the Ganesh Flour Mills vest in a Government company, against theGovernment company.
(2) Any liability in respect ofthe amount advanced, after the date of taking over, to the Company in relationto the Ganesh Flour Mills, together with interest due thereon and the wages,salaries and other dues of persons employed in the Ganesh Flour Mills inrespect of any period after the date of taking over shall, on and from theappointed day, be the liability of the Central Government and shall bedischarged by the Central Government or, for and on behalf of that Government,by the Government company as and when repayment of such amount becomes due oras and when such wages, salaries and other dues become due and payable.
(3) For the removal of doubts,it is hereby declared that,–
(a) save as otherwise expresslyprovided in this section or in any other section of this Act, no liability,other than the liability specified in sub–section (2), of the Company inrelation to the Ganesh Flour Mills in respect of a period prior to theappointed day shall be enforceable against the Central Government or theGovernment company, as the case may be;
(b) no award, decree or orderof any court, tribunal or other authority in relation to the Ganesh FlourMills, passed after the appointed day, in respect of any matter, claim ordispute in relation to any matter, not being a matter referred to in sub–section(2), which arose before that day shall be enforceable against the CentralGovernment or the Government company, as the case may be;
(c) noliability incurred by the Company before the appointed day, for thecontravention, in relation to the Ganesh Flour Mills, of any provision of lawfor the time being in force, shall be enforceable against the CentralGovernment or the Government company, as the case may be
PAYMENT OF AMOUNT
7.Payment of amount: (1) For the transfer to, andvesting in, the Central Government, under section 3, of the Ganesh Flour Millsand the right, title and interest of the Company in relation to the GaneshFlour Mills, there shall be given by the Central Government to the Company incash and in the manner specified in Chapter VI, an amount equal to a sum of onecrore, fifty–seven lakhs and sixty–eight thousand rupees.
(2) In addition to the amountspecified in sub–section (1), there shall also be given to the Companyby the Central Government an amount calculated at the rate of ten thousandrupees per annum for the deprivation of the Company of the management of theGanesh Flour Mills for the period commencing on the date of taking over andending with the appointed day.
(3) The amount specified in sub–section(1) and the amount calculated in accordance with the provisions of sub–section(2) shall carry simple interest at the rate of four percent per annum for theperiod commencing on the appointed day and ending on the date on which paymentof such amount is made by the Central Government to the Commissioner.
MANAGEMENT, ETC., OF GANESH FLOUR MILLS
8.Management, etc., of Ganesh Flour Mills: (1) On the appointed day, thegeneral superintendence, direction, control and management of the affairs andbusiness of the Ganesh Flour Mills shall, –
(a) wherea direction has been made by the Central Government under sub–section(1) of section 5, vest in the Government company specified in such direction;or
(b) whereno such direction has been made by the Central Government, vest in one or moreCustodians appointed by the Central Government under sub–section (2),
and thereupon the Governmentcompany so specified or the Custodian or Custodians so appointed, as the casemay be, shall be entitled to exercise, to the exclusion of all other persons,all such powers and do all such things as the Company is authorised to exerciseand do in relation to the Ganesh Flour Mills.
(2) The Central Government mayappoint one or more individuals or a Government company as the Custodian orCustodians of the Ganesh Flour Mills in relation to which no direction has beenmade by its under sub–section (1) of section 5.
(3) The Custodian or Custodiansso appointed shall receive, from the funds of the Ganesh Flour Mills suchremuneration as the Central Government may fix and shall hold office during thepleasure of the Central Government.
(4) The Custodians orCustodians of the Ganesh Flour Mills shall maintain an account of the GaneshFlour Mills in such form and manner and under such conditions as may beprescribed and the provisions of the Companies Act, 1956 shall apply to theaudit of the accounts so maintained as they apply to the audit of the accountsof a company.
9.Duty of persons in charge ofmanagement of Ganesh Flour Mills to deliver assets, etc: On the vesting in the CentralGovernment or a Government company of the Ganesh Flour Mills, all persons incharge of the management of the Ganesh Flour Mills immediately before the dateof such vesting, shall be bound to deliver to the Central Government or theGovernment company or to such person or body of persons as the CentralGovernment or the Government company may specify in this behalf, all assets,books of account, registers or other documents, in their custody relating tothe Ganesh Flour Mills.
10.Duty of persons to accountfor assets, etc,: (1) Every person who has, on the appointed day, in his possessionor under his control any assets, books, documents or other papers relating tothe Ganesh Flour Mills which has vested in the Central Government or aGovernment company under this Act, and which belongs to the Company or wouldhave so belonged if the Ganesh Flour Mills had not vested in the CentralGovernment or the Government company, shall be liable to account for the saidassets, books, documents and other papers to the Central Government or theGovernment company, as the case may be, and shall deliver them up to theCentral Government or the Government company or to such person or body ofpersons as the Central Government or the Government company may specify in thisbehalf.
(2) The Central Government maytake or cause to be taken all necessary steps for securing possession of theGanesh Flour Mills which has vested in it under section 3.
11.Dutyof the company to furnish particulars: The Company shall, within such period as theCentral Government may allow in this behalf, furnish to that Government ascomplete inventory of all its properties and assets as on the appointed day,pertaining to the Ganesh Flour Mills which has vested in the Central Governmentunder 3, and for this purpose, the Central Government or the Government companyshall afford the Company all reasonable facilities.
PROVISIONS RELATING TO EMPLOYEES OF GANESH FLOUR MILLS
12.Continuanceof employees: (1)Every person who has been, immediately before the appointed day, employed bythe Company in connection with the Ganesh Flour Mills shall become, –
(a) onand from the appointed day, an employee of the Central Government; and
(b) Where the Ganesh FlourMills is directed, under sub–section (1) of section 5, to vest in aGovernment company, an employee of that company on and from the date of suchvesting,
and shall hold office orservice under the Central Government or the Government company, as the case maybe, with the same rights and privileges as to pension, gratuity and other likematters as would have been admissible to him if there had been no such vestingand shall continue to do so unless and until his employment under the CentralGovernment or the Government company, as the case may be, is duly terminated oruntil his remuneration or other conditions of service are duly altered by theCentral Government of the Government company, as the case may be.
(2) Notwithstanding anythingcontained in the Industrial Disputes Act, 1947, or in any other law for thetime being in force, the transfer of the services of any officer, or otherperson employed in connection with the Ganesh Flour Mills to the CentralGovernment or the Government company shall not entitle such officer or otheremployee to any compensation under this Act, or any other law for the timebeing in force and no such claim shall be entertained any other law for thetime being in force and no such claim shall be entertained by any court,tribunal or other authority.
13.Provident fund and otherfunds: (1) Where the Company hasestablished a provident fund, superannuation fund, welfare fund or other fundfor the benefit of persons employed in the Company, the monies relatable to theofficers and other employees, whose services have become transferred by orunder this Act to the Central Government or the Government company shall, outof the monies standing, on the appointed day, to the credit of such providentfund, superannuation fund, welfare fund or other fund, stand transferred to,and vest in, the Central Government or the Government company, as the case maybe.
(2) The monies which standtransferred under sub–section (1) to the Central Government or theGovernment company, as the case may be, shall be dealtwith by that Government or the Government company in such manner as may beprescribed.
COMMISSIONER OF PAYMENTS
14.Appointmentof Commissioner of Payments: (1) The Central Government shall, for the purpose of disbursingthe amounts payable under section 7 to the Company, by notification, appoint aCommissioner of Payments.
(2) The Central Government mayappoint such other persons as it may think fit to assist the Commissioner andthereupon the Commissioner may authorise one or more such persons also toexercise all or any of the powers exercisable by him under this Act, anddifferent person may be authorised to exercise different powers.
(3) Any person authorised bythe Commissioner to exercise any of the powers exercisable by the Commissionermay exercise those powers in the same manner and with the same effect as ifthey have been conferred on that person directly by this Act and not by way ofauthorisation.
(4) The salaries and allowancesof the Commissioner and other persons appointed under this section shall be defrayedout of the Consolidated Fund of India.
15.Payment by the CentralGovernment to the Commissioner: (1) The Central Government shall, within thirty days from thespecified date, pay, in cash, to the Commissioner, for payment to the Companyan amount equal to the amounts specified in section 7.
(2) A deposit account shall beopened by the Central Government in favour of the Commissioner in the PublicAccount of India, and every amount paid under this Act to the Commissionershall be deposited by him to the credit of the said deposit account, andthereafter the said deposit account shall be operated by the Commissioner.
(3) Interest accruing on theamount standing to the credit of the deposit account referred to in sub–section(2) shall ensure to the benefit of the company.
16.Prioritiesof claims: The claims arising out ofmatters specified in the Schedule shall have priorities in accordance with thefollowing principles, namely: –
(a) Category I shall haveprecedence over all other categories and Category II shall have precedence overCategory III and so on;
(b) the claims specified ineach of the categories, shall rank equally and be paid in full, but, if theamount is insufficient to meet such claims in full, they shall abate in equalproportions and be paid accordingly; and
(c) thequestion of discharging any liability with regard to a matter specified in alower category shall arise only if a surplus is left after meeting all theliabilities specified in the immediately higher category.
17.Claimsto be made to the Commissioner: Every person having a claim against the Company in relation tothe Ganesh Flour Mills with regard to any of the matter specified in theSchedule shall prefer such claim before the Commissioner within thirty daysfrom the specified date:
Provided that if theCommissioner is satisfied that the claimant was prevented by sufficient causefrom preferring the claim within the said period of thirty days, he mayentertain the claim within a further period of thirty day, but no thereafter.
18.Proofof claims: (1) The Commissioner shall fixa date on or before which every claimant shall file the proof of his claimfailing which he will be excluded from the benefit of the disbursement made bythe Commissioner.
(2) Not less than fourteendays’ notice of the date so fixed shall be given by advertisement in one issueof any daily newspaper in the English language having circulation in the majorpart of the country and in one issue of any daily news paper in such regionallanguage as the Commissioner may consider suitable, and every such notice shallcall upon the claimant to file the proof of his claim with the Commissionerwithin the period specified in the advertisement.
(3) Every claimant who fails tofile the proof of his claim within the period specified by the Commissionershall be excluded from the disbursement made by the Commissioner.
(4) The Commissioner shall,after such investigation as may, in his opinion, benecessary and after giving the Company an opportunity of refuting the claim andafter giving the claimant a reasonable opportunity of being heard, by order, inwriting, admit or reject the claim in whole or in part.
(5) The Commissioner shall havethe power to regulate his own procedure in all matters arising out of thedischarge of his functions, including the place or places, at which he willhold his sittings and shall, for the purpose of making any investigation underthis Act, have the same powers, as are vested in a civil court under the Codeof Civil Procedure, 1908(5 of 1908), while trying a suit, in respect of thefollowing matters, namely: –
(a) thesummoning and enforcing the attendance of any witness and examining him onoath;
(b) thediscovery and production of any document or other material object producible asevidence;
(c) thereception of evidence on affidavits;
(d) theissuing of any commission for the examination of witnesses.
(6) Any investigation beforethe Commissioner shall be deemed to be a judicial proceeding within the meaningof sections 193 and 228 of the India Penal Code (45 of 1860) and theCommissioner shall be deemed to be a civil court for the purposes of section195 and Chapter XXVI of the Code of Criminal Procedure 1973. (2 of 1974)
(7) A claimant, who isdissatisfied with the decision of the Commissioner, may prefer an appealagainst the decision to the principal civil Court of original jurisdiction withthe local limits of whose jurisdiction the registered office of the Company issituated:
Provided that where a personwho is a Judge of a High Court is appointed to be the Commissioner, such appealshall lie to the High Court of Delhi and such appeal shall be heard anddisposed of by not less than two Judges of that High Court.
19.Disbursementof money by the Commissioner to claimants: (1) After admitting a claim under this Act, theamount due in respect of such claim shall be paid by the Commissioner to theperson or persons to whom such amount is due and on such payment, the liabilityof the Company in respect of such claim shall stand discharged.)
(2) If, out of the monies paidto him in relation to the Ganesh Flour Mills, there is a balance left aftermeeting the liabilities as specified in the Schedule, the Commissioner shalldisburse such balance to the Company.
20.Undisbursed or unclaimedamount to be deposited to the General revenue account: Any money paid to theCommissioner which remains undisbursed or unclaimed on the date immediatelypreceding the date on which the office of the Commissioner is finally wound up,shall be paid by the Commissioner, before his office is finally wound up, tothe general revenue account of the Central Government; but a claim to any moneyso transferred may be preferred to the Central Government by the personentitled to such payment and shall be dealt with as if such transfer had notbeen made, and the order, if any, for payment of the claim being treated as anorder for the refund of the revenue.
21.Act to have overridingeffect: The provisions of this Actshall have effect notwithstanding anything inconsistent therewith contained inany other law for the time being in force or in any instrument having effect byvirtue of any law, other than this Act, or in any decree or order of any court,tribunal or other authority.
22.Contracts to cease to haveeffect unless ratified by the Central Government or Government company: Every contract, entered intoby the Company in relation to the Ganesh Flour Mills which has vested in theCentral Government under section 3, for any service, sale or supply and inforce immediately before the appointed day, shall, on and from the expiry of aperiod of thirty days from the appointed day, cease to have effect unless suchcontract is, before the expiry of that period, ratified, in writing, by theCentral Government or the Government company and in ratifying such contract theCentral Government or the Government company may make such alteration ormodification therein as it may think fit;
Provided that the CentralGovernment or the Government company shall not omit toratify a contract and shall not make any alteration or modification in acontract–
(a) unless it is satisfied thatsuch contract is unduly onerous or has been entered into in bad faith or isdetrimental to the interests of the Central Government or the Governmentcompany ; and
(b) exceptafter giving the parties to the contract a reasonable opportunity of beingheard and except after recording in writing its reasons for refusal to ratifythe contract or for making any alteration or modification therein.
23.Penalties: Any person who, –
(a) havingin his possession, custody or control any property forming part of the GaneshFlour Mills, wrongfully withholds such property from the Central Government orthe Government company; or
(b) wrongfullyobtains possession of, or retains, any property forming part of the GaneshFlour Mills; or
(c) wilfully withholds or failsto furnish to the Central Government or the Government company or any person orbody of persons specified by that Government or the Government company, as thecase may be, any document relating to the Ganesh Flour Mills which may be inhis possession, custody or control; or
(d) wilfullyfails to deliver to the Central Government any inventory of property and assetsforming part of the Ganesh Flour Mills; or
(e) fails to deliver to theCentral Government or the Government company or any person or body of personspecified by that Government or the Government company, any assets, books ofaccount, registers or other documents in his possession, custody or controlrelating to the Ganesh Flour Mills; or
(f) wrongfully removes ordestroys any property forming part of the Ganesh Flour Mills or prefers anyclaim under this Act which he knows or has reason to believe to be false orgrossly inaccurate,
shall be punishable withimprisonment for a term which may extend to two years, or with fine which mayextend to ten thousand rupees, or with both.
24.Offencesby Companies: (1) Wherean offence under this Act has been committed by a company, every person who, atthe time the offence was committed, was in charge of, and was responsible tothe company for the conduct of the business of the company, as well as thecompany, shall be deemed to be guilty of the offence and shall be liable to beproceeded against and punished accordingly:
Provided that nothing containedin this sub–section shall render any such person liable to anypunishment if he proves that the offence was committed without his knowledge orthat he had exercised all due diligence to prevent the commission of suchoffence.
(2) Notwithstanding anythingcontained in sub–section (1), where any offence under this Act has beencommitted by a company and it is proved that the offence has been committedwith the consent or connivance of, or is attributable to any neglect on thepart of, any director, manager, secretary or other officer of the company, suchdirector, manager, secretary or other officer shall be deemed to be guilty ofthat offence and shall be liable to be proceeded against and punishedaccordingly.
Explanation: For thepurposes of this section, –
(a) "company"means any body corporated and includes a firm or other association ofindividuals; and
(b) "director",in relation to a firm, means a partner in the firm.
25.Protectionof action taken is good faith: (1) No suit, prosecution or other legal proceeding shall lieagainst the Central Government or any officer or other employee of thatGovernment or the Custodian or the Government company or any person authorisedby that Government or the Custodian or the Government company for anythingwhich is in good faith done or intended to be done under this Act.
(2) No suit, prosecution orother legal proceeding shall lie against the Central Government or any officeror other employee of that Government or the Custodian or the Government companyor any person authorised by that Government or the Custodian or Governmentcompany for any damage caused or likely to be caused by anything which is ingood faith done or intended to be done under this Act.
26.Delegation of Powers: (1) The Central Governmentmay, by notification, direct that all or any of the powers exercisable by itunder this Act, other than the powers conferred by this section, section 27 and28, may also be exercised by such person or person as may be specified in thenotification.
(2) Whenever any delegation ofpower is made under sub–section (1), the person to whom such power hasbeen delegated shall act under the direction, control and supervision of theCentral Government.
27.Powerto make rules: (1) TheCentral Government may, by notification, make rules for carrying out theprovisions of this Act.
(2) In Particular, and withoutprejudice to the generality of the foregoing power, such rules may provide forall or any of the following matters, namely: –
(a) thetime within which, and the manner in which, any intimation referred to in sub–section(3) of section 4 shall be given;
(b) theform and manner in which, and the conditions under which, the Custodian orCustodians shall maintain accounts as required by sub–section (4) ofsection 8;
(c) themanner in which the monies in any provident fund or other fund referred to insub–section (2) of section 13 shall be dealt with;
(d) anyother manner which is required to be, or may be, prescribed.
(3) Every rule made by theCentral Government under this Act shall be laid, as soon as may be after it ismade, before each House of Parliament, while it is in session, for a totalperiod of thirty days which may be comprised in one session or in two or moresuccessive sessions, and if, before the expiry of the session immediatelyfollowing the session or the successive sessions aforesaid, both Houses agreein making any modification in the rule for both Houses agree that the ruleshould not be made, the rule shall thereafter have effect only in such modifiedform or be of no effect, as the case may be; so however, that any suchmodification or annulment shall be without prejudice to the validity ofanything previously done under that rule.
28.Powerto remove difficulties: If any difficulty arises in giving effect to the provisions ofthis Act, the Central Government may, by order, not inconsistent with theprovisions of this Act, remove the difficulty:
Provided that no such ordershall be made after the expiry of a period of two years from the appointed day.
29.Repealand saving: (1) TheGanesh Flour Mills Company Limited (Acquisition and Transfer of Undertakings)Ordinance, 1984(2 of 1984), is hereby repealed.
(2) Notwithstanding suchrepeal, anything done or any action taken under the said Ordinance shall bedeemed to have been done or taken under the corresponding provisions of thisAct.
[Seesections 16, 17 and 19 (2)]
Order of priorities for the discharge of liabilities of theCompany
(a) Wages, salaries and otherdues payable to the employees of the Company.
(b) Deductions made from thesalaries and wages of the employee for provident fund, Employees StateInsurance Fund, contribution premium relating to Life Insurance Corporation ofIndia or for any other purposes.
Revenue, taxes, cesses, ratesor other dues to the Central Government, a State Government, a local authorityor a State Electricity Board.
Any other loans or dues.