State Act
3
Section 3. Vesting
THE BIST INDUSTRIAL CORPORATION LIMITED (ACQUISITION OF UNDERTAKING) ACT, 1970
Act no. 7 of 19711971In forceUttarakhand (State Act)
3. On the commencement of this Act, the undertaking of the Company shall by virtue of this, Act, be and stand transferred to and vest, in the State Government free from any debt mortgage, charge or other encumbrance or lien, trust or similar obligation of the Company or attaching to the undertaking: Provided that any such debt, mortgage, charge or other encumbrance or lien, trust, or similar obligation shall attach to the compensation referred to in section 8 in substitution for the undertaking.