LexSection 12 — Duty of persons in charge of management of sick textile undertakings to deliver all assets, etc.
The Sick Textile Undertakings (Nationalisation) Act, 1974
On the vesting of the management of a sick textile undertaking in the National Textile Corporation all persons in charge of the management of such sick textile undertaking immediately before such vesting shall be bound to deliver to the National Textile Corporation all assets, books of account, registers or other documents in their custody relating to the sick textile undertaking.Open in Lexace · Ask the AI about this section