Shipping Development Fund Committee (Abolition) Act,1986

Act No : 66

---

Section : No right to compensation for termination of contract of management,etc.

13. No right to compensation for termination of contract of
management, etc. (1) Notwithstanding anything to the contrary
contained in any contract or in any law for the time being in force,
no managing or whole-time director or any other director or a manager
or any person in charge of management of a shipowner which is a
company shall be entitled to any compensation for the loss of office
or for the premature termination, under this Act, of any contract of
management entered into by him with such company.

(2) Nothing contained in sub-section (1) shall affect the right
of any such managing or whole-time director, or any other director or
manager or any such person in charge of management to recover from the
shipowner moneys recoverable otherwise than by way of such
compensation.

---

Read All Comments

Comments

Quick Links

• Recent Comments
• Recent Citations
• Bare Acts Alphabetically