Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act : Vesting of the

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act,1978

Act No : 13

Section : Vesting of the undertakings of the Company in the State Government ofGujarat.

6. Vesting of the undertakings of the Company in the State Government of Gujarat. (1) Notwithstanding anything contained in sections 3 and 4, the Central Government shall, as soon may be, after the commencement of this Act, direct, by notification that the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, which have vested in the Central Government as are specified in sub-section (2) of section 5, shall, instead of continuing to vest in the Central Government, vest in the State Government of Gujarat either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification. 671 (2) Where the r right, title and interest of the Company in relation to its undertakings and the liabilities of the Company specified in sub-section (2) of section 5 vest in the State Government under sub-section (1), the State Government shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertakings, and all the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the State Government.