OIL AND NATURAL GAS COMMISSION (TRANSFER OF UNDERTAKING AND REPEAL) ACT 1993
THE OIL AND NATURAL GAS COMMISSION (TRANSFER OF UNDERTAKING ANDREPEAL) ACT, 1993
ACT No. 65 OF 1993
An Act to provide for the transfer and vesting of the undertakingof the Oil and Natural Gas Commission to and in the Oil and Natural GasLimited, a company incorporated under the Companies Act, 1956, and for mattersconnected therewith or incidental thereto and also to repeal the Oil andNatural Gas Commission Act, 1959.
Be it enacted by Parliament inthe Forty–fourth Year of the Republicof India as follows:–
1.Short title and commencement: (1) This Act may be called theOil and Natural Gas Commission (Transfer of Undertaking and Repeal) Act, 1993
(2) It shall be deemed to havecome into force on the 2nd day of the July, 1993.
2.Definitions: In this Act, unless the context otherwise requires,–
(a)"appointed day"means such date as the Central Government may, by notification in the OfficialGazette, appoint under section 3;
(b) "Corporation"means the Oil and Natural Gas Corporation Limited, a company registered underthe Companies Act, 1956;
(c) "Commission"means the Oil and Natural Gas Commission established under sub–section(1) of section 3 of the Oil and Natural Gas Commission Act, 1959.
(d) "prescribed"means prescribed by rules made under this Act, Undertaking of Commissionto vest in Corporation.
3.Undertaking of Commission to vest inCorporation: On suchdate as the Central Government may, by notification in the Official Gazette,appoint, the undertaking of the Commission shall stand transferred to and vestin, the Corporation general effect of vesting of undertaking inCorporation.
4.General effect of vesting ofundertaking in Corporation: (1) On and from the appointed day, the entire capital of theCommission shall, by virtue of this Act, stand vested in the Corporation.
(2) The undertaking of theCommission which is transferred to and which vests in the Corporation undersection 3 shall l be deemed to include all assets, rights, powers, authoritiesand privileges and all properties, movable and immovable, real and personal,corporeal or incorporeal, in possession or reservation, present or contingentof whatever nature and wheresoever situate includinglands, buildings, works, workshops, vehicles, oil rigs, oil platforms, cashbalances, deposits, foreign currencies, reserves, reserve funds or any otherinvestments , securities, tenancies, leases and book debts and all other rightsand interests arising out of such properties as were immediately before theappointed day in the ownership, possession or power of Commission in relationto its undertaken, whether within or outside India, all books of account andregisters, records and documents relating thereto and shall also be deemed toinclude all liabilities and obligations of whatever kind, within our outsideIndia, of the Commission in relation to its undertaking subsisting immediatelybefore the appointed day.
(3) All contracts, deeds,bonds, guarantees, powers of attorney, other instruments and working arrangementssubsisting immediately before the appointed day and affecting the Commissionshall cease to have effect or to be enforceable against the Commission andshall be of as full force and effect against or in favourof the Corporation and enforceable as fully; and effectual as if, instead ofthe Commission, the Corporation had been named therein or had been a partythereto.
(4) Any proceeding or cause ofaction pending or existing immediately before the appointed day by or againstthe Commission in relation to its undertaking may, as f ROM the appointed day,be continued and enforced by or against the Corporation as it might have beenenforced by or against the Commission, if this Act had not been in force, andshall cease to be enforceable by or against the Commission, Licenses,etc., to be deemed to have been granted to Corporation.
5.Licences, etc., to be deemed to havebeen granted to Corporation: With effect from the appointed day, all licenses, leases,concessions, permits, quotas, benefits, privileges and exemption granted to theCommission in connection with the affairs of the Commission under any law forthe time being in force, shall be deemed to have been granted to theCorporation Tax exemption or benefit to continue to have effect.
6.Tax exemption or benefit tocontinue to have effect: (1) Where any exemption from, or any assessment withrespect to, any tax has been granted or made or any benefit by way of set offor carry forward of any unabsorbed depreciation or investment allowance or otherallowance or loss has been extended or is available to the Commission under theIncome–tax Act, 1961 (43 of 1961), such exemption, assessment or benefitshall continue to have effect in relation to the corporation.
(2) Where any payment made bythe Commission is exempt from deduction of the tax at source under anyprovision of the Income–tax Act, 1961 (43 of 1961) the exemption fromtax will continue to be available as if et provisions of the said Act madapplicable to the Commission were operative in relation to the Corporation..
(3) The transfer and vesting ofthe undertaking or any part thereof in terms of section 3 shall not beconstrued as a transfer within the meaning of the Income–tax Act, 1961,for the purpose of capital gains. Guarantee to be operative.
7.Guarantee to be operative: Any guarantee given for or in favour of the Commission with respect to any loan or leasefinance or other assistance shall continue to be operative in relation to theCorporation. Provisions in respect of officers andother employees of commission.
8.Provision in respect ofofficers and other employees of Commission: (1) Every officer or other employee of theCommission (except a member or the chairman) serving in its employmentimmediately before the appointed in connection with the undertaking which hasvested in the Corporation by virtue of this Act, become, as from the appointedday, an officer or, as the case may be, other employee of the Corporation andshall hold his office or service therein by the same tenure, at the sameremuneration upon the same terms and conditions, with the same obligations andwith the same rights and privileges as to leave, passage, insurance,superannuating scheme, provident fund, other funds, retirement, pension,gratuity and other benefits as he would have held under the Commission if itsundertaking had not vested in the Corporation and shall continue to do as anofficer or other employee of the Corporationor until the expiry of a period of one year from the appointed day ifsuch officer or other employee opts not to be the officer or other employee ofthe Corporation within such period.
(2) Where an officer or otheremployee of the Commission opts under sub–section (1) not to be in theemployment or service of the Corporation such offer or other employee shall bedeemed to have resigned.
(3) Notwithstanding anythingcontained in the Industrial Despots Act 1947 or in any other law for the timebeing in force, the transfer of the service of any officer or other employee ofthe Commission to the Corporation shall not entitle such officer or otheremployee to any compensation under this Act or udder any other law for the timebeing in force and no such claim shall be entertained by any court, tribunal orother authority.
(4) The officers and otheremployees who have retired before the appointed day from the service of theCommission and are entitled to any benefits, rights or privileges shall beentitled to receive the same benefits, rights or privileges from theCorporation.
(5) The trusts of the Providentfund, gratuity fund or the superannuating scheme of the Commission and anyother bodies created for the welfare of officers or other employees shallcontinue to discharge their functions in the Corporation as was being done hithertoin the Commission and any tax exemption granted to the provident fund, gratuityfund and the superannuating scheme or any other bodies created for the welfareof officers or other employees shall continue to be applied to the Corporation.
(6) Notwithstanding anythingcontained in this Act or in the Companies Act, 1956 or in any other law for thetime being in force or in the regulations of the Commission, no member orchairman of the Commission shall be entitled to any compensation against theCommission or the Corporation for the loss of office or for the prematuretermination of any contract of management entered into by him with theCommission power of entry.
9. (1) For the purposes of ascertaining theavailability of any oil or natural gas, the Central Government Mayan therequest being made by the Corporation, authorise anyofficer or employee of the Corporation, by general or special order,–
(a) toenter and inspect any land;
(b) tosurvey and take measurements of any such land;
(c) todig holes or perform any other functions for the purposes of measuring orprospecting for the availability of oil and natural gas; and
(d) toexamine any document, book, register orrecord in the possession or power of any person having the control of orconnected with any such land and place marks of identification thereon and takeextracts from and make copies of any such document, book, register or record.
(2) Ever person authorised by the Central Government under sub section (1)shall be deemed to be a public servant within the meaning of section 21 (45 of1866) of the Indian Penal Code.
(3) The Corporation shall beliable to pay compensation for any loss or damage caused to the land caused byits officers or employees in performing the functions under sub–section(1) in such manner as may be prescribed to the occupier of the land.
(4) The amount of compensationpayable under sub–section (3) shall be determined by the competentauthority appointed by the Central Government in the manner prescribed.
10.Powerto make rules: (1) TheCentral Government may, by notification in the Official Gazette, make rules forcarrying out the provisions of this Act.
(2) In particular and withoutprejudice to the generality of the foregoing power, such rules may provide forthe amount and the manner for paying compensation for any loss or damage causedto the land by the officers and employees of the Corporation under sub–sections(3) and (4) of section 9.
(3) Every rule made under thisAct shall be laid, as soon as may be after it is made, before each House ofParliament, while it is in session, for a total period of thirty days which maybe comprised in one session to in two or more successive sessions, and if,before the expiry of the session immediately following the session or thesuccessive sessions aforesaid, both Houses agree in making any modification inthe rule or both Houses agree that the rule should boot be made, the rule shallthere after have effect only in suchmodified form or be of no effect, as the case may be; so, however, that anymodification or annulment shall be without prejudice to the validity ofanything prevails y done under that rule.
11.Repealof Act 48 of 1959: (1) On the appointed day, the Oil and Natural Gas Commission Act,1959 shall stand repealed.
(2) Notwithstanding suchrepeal, the Corporation shall, so far as may be, comply with the provisions ofsections 22 and 23 of the said Act so repealed for any of the purposes relatedto the annual accounts of the Commission.
12.Repealand saving: (1) TheOil and Natural Gas Commission (Transfer of Undertaking and Repeal) Ordinance1993 is hereby repealed.
(2) Notwithstanding the repealof the Oil and Natural Gas Commission (Transfer of Undertaking and Repeal)Ordinance, shall be deemed to have been done or taken under the correspondingprovisions of this Act.