Chapter I PRELIMINARY

Short title and commencement.--(1) This Act may be called the Madras Race Club (Acquisition and Transfer of Undertaking) Act, 1986.

1. (2) It shall come into force at once.

Declaration.--It is hereby declared that this Act is for giving effect to the policy of the State towards securing the principles laid down in clauses

1. (b) and
2. (c) of Article 39 of the Constitution.

Definitions.—In this Act, unless the context otherwise requires,—

1. (a) "appointed day" means the date on which this Act comes into force;
2. (b) "club" means the Madras Race Club, being a company within the meaning of the Companies Act, 1956 (Central Act 1 of 1956), and having its registered office at Guindy, Madras;
3. (c) "Commissioner" means the Commissioner of Payments appointed under section 14;
4. (d) "custodian" means the custodian appointed under sub-section

1. (2) of section 9;
   • (e) "Government" means the State Government;
   • (f) "Government company" means a Corporation or a company wholly owned by the State Government;
   • (g) "specified date" in relation to any provision of this Act means such date as the Government may, by notification, specify for the purposes of that provision and different dates may be specified for different provisions of this Act;
   • (h) words and expressions used herein and not defined but defined in the Companies Act, 1956 (Central Act 1 of 1956), shall have the meanings, respectively, assigned to them in that Act.