THE GAZETTE OF INDIA : EXTRAORDINARY

[PART II—SIV. 3(ii)]

MINISTRY OF COMMERCE

(Department of Textiles)

NOTIFICATION

New Delhi, (he 8th January, 1981

S.O. 14(E).—In exercise of the powers conferred by sub-

section (1), read with clause (a) of sub-section (2) of Section

33 of the National Company Limited (Acquisition and Trans-

fer of'Undertakings Act, 1980 (42 of 1980), the Central

Government hereby makes the following rules, namely :—

1. Short title and commencement.—(1) These rules may

be called the National Company Limited (Acquisition and

Transfer of Undertakings Rules, 1980.

(2) They shall come into force on the date of their publi-

cation, in the Official Gazette.

2. Definitions.—In these rules, unless the context otherwise

requiivs,—

(a) 'Act' means the National Company Limited (Acquisi-

tion and Transfer of Undertakings) Act, 1980 (42 of

1980).

(b) all other words and expressions used jn these rules

and not defined but denned in the National Com-

pany Limited (Acquisition and Transfei of Under-

takings) Act, 1980 (42 of 19K0), shall have the

meanings respectively assigned to them in thai Act.

3. Time-limit

foi

intimation.—Eveiy

mortgagee of any

property which has vested under the Act in Central Govern-

ment, and every person holding any charge, lien or other

interest in, or in relation to, any such property, sh;ill give

.in intimation of such mortgagee charge, hen other intciest

lo the Commivsionci within a pel lod of thirty days from

such date, as may be specified by the Central Government

under section 18 ;

Piovided that if the Commissioner is satisfied that such

mortgagee or pcison was prevented by sufficient cause from

giving the intimation within the said period of thirty days,

he may accept the intimation within a further period of

thiity days, after recording reasons therefor in writing, but

not thereafter.

4. Manner of intimation —(1) Fvery intimation to be given

to the Commissioner under rule 3 shall be in writing addres-

sed to the Commissioner, and shall contain the following

paiticulars namely :—-

(a) name, description and full address of the mortgagee

or the person holding charge, lien or other interest

in, or in relation to. any such property;

(h) name of the undertaking in lespect of which the

intimation is made ;

interest (in Indian currency) ;

fd) particulars of the instrument, if any, by which the

mortgage, charge, lien or other interest K secured,

supported by an attested copy of the instrument;

(e) amount, if any, already received with particular ;

(f) any other relevant particulars ; and

(g) relief claimed.

(2) Every intimation shall be duly signed and verified by

the mortgagee, or the person holding thc charge, lien or

other interest or a pcison duly authorised by him.

(3) An intimation may be filed in the Office of the Com-

missioner, at Calcutta, on all working days during office

hours or may be sent to the Commissioner by registered post,

with acknowledgement due.

[File No. 29/7/80Jule]

S. K, SARKAR, Jt. Secy.

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