Konkan Passenger Ships (Acquisition) Act : GENERAL EFFECT OF VESTING Indian Bare Acts :

Konkan Passenger Ships (Acquisition) Act,1973

Act No : 62

Section : GENERAL EFFECT OF VESTING

SECTION 05: GENERAL EFFECT OF VESTING

(1) For the purposes of section 3-, the Konkan passenger ships shall be deemed to include all assets, rights, powers, authorities, privileges and all properties in the ships, all rights, under any policy of insurance, licence or any other instrument, and all other properties belonging to, or held for the purpose of running, the ships (or for which any order has been placed by the company), including fuels, stores, machinery, apparatus, navigational aids, maps, charts, spare tail shafts, spare propellers and other spare parts, whether on board or on the shore.

(2) If on the appointed day any suit, appeal or other proceeding of whatever nature in relation to any business of the company relating to the Konkan coastal passenger shipping service or the Konkan passenger ships is pending by or against the company, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the Konkan passenger ships, or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted and enforced by or against the company.