section 7
Government or Government company not to be liable for prior liabilities
The Madras Race Club (Acquisition and Transfer of Undertaking) Act, 1986Corporate198633 sections7 chapters
Chapter II ACQUISITION AND TRANSFER OF THE UNDERTAKING
Statutory text
Government or Government company not to be liable for prior liabilities.—(1) Every liability of the club, other than the liability specified in sub-section
- (1) of section 25, in respect of any period prior to the appointed day, shall be the liability of the club and shall be enforceable against it, and not against the Government or, where the undertaking of the club vests in a Government company, against such Government company.
- (2) For the removal of doubts, it is hereby declared that—
- (a) save as otherwise expressly provided in this Act, no liability of the club in relation to its undertaking, in respect of any period prior to the appointed day, shall be enforceable against the Government; or where the undertaking vests in a Government company, against such Government company ;
- (b) no award, decree or order of any court, tribunal or other authority in relation to the undertaking, passed after the appointed day in respect of any matter, claim or dispute, which arose before that day, shall be enforceable against the Government, or where the undertaking vests in a Government company, against such Government company.
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