REGISTERED No. D- ( D) -72 रजिस्ट्री सं ० डी-(डी) -72
भारत का राजपत्र
The Gazette of India
असाधारण
EXTRAORDINARY
भाग II--खण्ड 1
PART II Section 1
प्राधिकार से प्रकाशित
PUBLISHED BY AUTHORITY
पं० 66] No. 66]
नई दिल्ली, मंगलवार, दिसम्बर 13, 1977/ अग्रहायण 22 , 1899 NEW DELHI , TUESDAY, DECEMBER 13 , 1977 / AGRAHAYANA 22, 1899
इस भाग में भिन्न पृष्ठ संख्या वी जाती है जिस ने कि यह अलग संकलन के रूत्र में रखा जा सके ।
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF LAW , JUSTICE AND COMPANY AFFAIRS
(Legislative Department)
New Delhi , the 13th December , 1977 / Agrahayana 22, 1899 ( Saka )
The following Act of Parliament received the assent of the President on the 13th December , 1977, and is hereby published for general infor- mation: -
THE INDIAN IRON AND STEEL COMPANY ( ACQUISITION OF SHARES ) AMENDMENT ACT , 1977
No. 39 OF 1977
[13th December , 1977 ]
An Act to amend the Indian Iron and Steel Company (Acquisition of Shares) Act , 1976
BE it enacted by Parliament in the Twenty- eighth Year of the Republic of India as follows: -
1. (1 ) This Act may be called the Indian Iron and Steel Company (Acquisition of Shares) Amendment Act, 1977 .
Short title and commence- ment (2) It shall be deemed to have come into force on the 13th day of October, 1977.
89 of 1976.
2 In section 2 of the Indian Iron and Steel Company (Acquisition of Shares ) Act , 1976 (hereinafter referred to as the principal Act ) , for clause (h) , the following clause shall be substituted , namely: -
Amend- ment of sec tion 2 .
' (h ) " shareholder " means ,-
( i) a person who , immediately before the appointed day , was registered by the Company as the holder of any share and in- cludes his legal representative ; or
(441) [PART II-
THE GAZETTE OF INDIA EXTRAORDINARY
442
1 of 1956.
(vi) a person who, before the appointed day, had lodged with the Company a proper instrument of transfer of any share in the form prescribed under section 108 of the Companies Act , 1956 , and executed in accordance with the provisions of that section ; or
1of 1956.
(vii) a person who claims under a proper instrument of transfer of any share in the form prescribed under section 108 of the Companies Act, 1956 , and delivers such instrument , duly executed, to the Commissioner on or before such date as the Central Government may, by notification , specify in this behalf , '
3. In section 7 of the principal Act , in sub - section ( 1 ) ,-
Amend- ment of section 7.
(i) in the opening paragraph , for the words " within thirty days from the specified date " , the words , figures and letters " on or before the 30th day of November , 1977" shall be substituted and shall be deemed always to have been substituted ;
(ii) for the proviso , the following proviso shall be substituted and shall be deemed always to have been substituted, namely:-
"Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim before the said date, he may entertain the claim within a further period of thirty days from that date and not thereafter . ".
4. After section 7 of the principal Act , the following sections shall be inserted , namely:-
Insertion of new sections 7A and 7B .
" 7A. Where there is any dispute as to the person or persons who are entitled to any amount payable under this Act ( including any dispute as to who are the legal representatives of any deceased claimant to the amount) , the Commissioner may, after making such inquiry as he may deem fit , make the payment to such person as ap- pears to him to be best entitled to receive the amount :
Powerof Commis- sioner to Inquire into dis- putes as to persons entitled to any amount
Provided that if the Commissioner is unable to determine as to who is the person entitled to the amount and considers that the matter could more appropriately be dealt with by the principal civil court of original jurisdiction within the local limits of whose jurisdic- tion the registered office of the Company is situateď, he may refer such dispute to the said court , whose decision thereon shall be final :
Provided further that nothing contained herein shall affect the liability of any person , who may receive the whole or any part of the amount allowed under this Act , to pay the same to the person lawfully entitled thereto .
Deposit of amount in court.
7B . Where any dispute has been referred under section 7A by the Commissionerto the civil court referred to therein , he shall deposit the amount in that court . " .
THE GAZETTE OF INDIA EXTRAORDINARY
SEC . 1 ]
443
15 of 1977 .
5. (1 ) The Indian Iron and Steel Company (Acquisition of Shares ) Amendment Ordinance , 1977 , is hereby repealed
Repeal and saving.
(2) Notwithstanding such repeal , anything done or any action taken under the Ordinance so repealed shall be deemed to have been done or taken under the corresponding provisions of this Act .
K. K. SUNDARAM, Secy . to the Govt . of India .
PRINTED BY THE GENERAL MANAGER , GOVERNMENT OF INDIA PRESS , MINTO ROAD, NEW DELHI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS , DELHI , 1977