Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium) Undertaking Act : VESTING OF

Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium) Undertaking Act,1984

Act No : 43

Section : VESTING OF THE ALUMINIUM UNDERTAKING IN BHARAT ALUMINIUM COMPANY

SECTION 06: VESTING OF THE ALUMINIUM UNDERTAKING IN BHARAT ALUMINIUM COMPANY

(1) Notwithstanding anything contained in sections 3-and4-, in Central Government shall, as soon as may be, after the appointed day, direct, by notification, that the Aluminium undertaking and the right, title and interest of the Company in relation to that undertaking which have vested in the Central Government under section 3-shall, instead of continuing to vest in the Central Government vest in the Bharat Aluminium Company either on the date of notification or on such earlier or later date (not being a date earlier that the appointed day, as may be specified in the notification.

(2) Where the right, title and interest of the Company in relation to the Aluminium undertaking vest in the Bharat Aluminium Company under sub- section (1), the Bharat Aluminium Company shall, on and from the date of such vesting, be deemed to have become the owner in relation to the Aluminium undertaking, and all the rights and liabilities of the Central Government in relation to the Aluminium undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Bharat Aluminium Company.