Chapter VI MISCELLANEOUS

1. (1) The Government Owned Companies shall be wound up in accordance with the provisions of the Companies Act, 1956 (1 of 1956).
2. (2) Subject to the provisions of Companies Act, 1956 (1 of 1956), from such date as the State Government may, by notification in the Official Gazette, appoint,-
   • (i) all properties and other assets vested in the Government Owned Companies, immediately before such date, shall vest in the Board;
   • (ii) all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with, or for the Government Owned Companies, immediately before such date, shall be deemed to have been incurred, entered into and engaged to be done by, with or for the Board;
   • (iii) all non-recurring expenditure incurred by Government Owned Companies up to such date and declared to be capital expenditure by the Government Owned Companies shall, subject to such terms and conditions as may be determined by the Government, be treated as the capital provided by the Government to the Board;
   • (iv) all sums of money due to the Government Owned Companies, immediately before such date, shall be deemed to be due to the Board;
   • (v) all suits and other legal proceedings instituted or which could have been instituted by or against the Government Owned Companies, immediately before such date, may be continued or instituted by or against the Board;
   • (vi) all the employees holding any office under the Government Owned Companies, immediately before such date, shall be treated as employees of the Board and shall hold office in the Board on the same terms and conditions of service which were applicable to them.
3. (3) If any dispute or doubt arises as to which of the properties, rights or liabilities of the Government Owned Companies transferred to the Board or as to which of the employees serving under the Government Owned Companies are to be treated as employees of the Board, under this section, such dispute or doubt shall be decided by the Government in consultation with the Board and the decision of the Government shall be final. Explanation.- For the purpose of this Act, the expression "Government Owned Companies" shall mean the Himachal Pradesh Road and Other Infrastructure Development Corporation Limited and Himachal Pradesh Health Systems Corporation Limited incorporated under the Companies Act, 1956 (1 of 1956).

All members, officers and servants of the Board shall, while acting or purporting to act in pursuance of the provisions of this Act or any regulations made thereunder, be deemed to be public servant within the meaning of section 21 of the Indian Penal Code, 1860 (45 of 1860).

No suit, prosecution or other legal proceeding shall lie against the Board or any member or officer or servant of the Board for anything which is in good faith done or intended to be done in pursuance of the provisions of this Act or regulations made thereunder.

All agreements or arrangements entered into by the Board shall contain an arbitration clause providing that,-

1. (a) all parties to the agreement shall submit to arbitration any disputes which may arise between them out of the provisions of the agreement or arrangement ;
2. (b) the place of arbitration shall be at Shimla or any other place in India agreed to by the parties ; and
3. (c) the disputes referred to in clause (a) shall be decided in accordance with the law for the time being in force.

1. (1) The Board may make regulations not inconsistent with provisions of this Act for enabling it to discharge its functions under this Act.
2. (2) In particular and without prejudice to the foregoing power, such regulations may provide for all or any of the following matters, namely:-
   • (a) the time and the place at which the Board shall meet and rules of procedure, the Board shall observe in regard to transaction of its business at its meeting under section 8 ;
   • (b) the committees which the Board may constitute, the number of members which the Executive Committee and other Committees may consist of and the functions of the Board which they may perform under section 10;
   • (c) the powers of the Chairperson, Chief Executive Officer and Committees of the Board under section 11;
   • (d) the mode of recruitment, salary and allowances and other conditions of service of officers and other employees of the Board under sub-section (2) of section 12 ;
   • (e) the manner of disinvestment of assets of any Government agency under section 14;
   • (f) to regulate competitive bidding under section 16;
   • (g) to decide the manner in which an identified project is to be developed for private sector participation under section 17 ;
   • (h) the procedure for dealing with risks associated with various infrastructure projects under section 18;
     • (i) the manner of competitive bidding or other methods to be followed under section 20;
   • (j) fee to be charged under section 21;
   • (k) the form and manner in which the accounts of the Board shall be prepared and maintained under sub-section (1) of section 26;
   • (l) the form in which an annual statement of accounts of the Board shall be prepared under sub-section (2) of section 26; and
   • (m) the form in which and the time at which an annual report of the Board shall be prepared under sub-section (1) of section 27.