Richardson and Cruddas Limited (Acquisition and Transfer of Under-takings) Act : MANAGEMENT OF THE OLD

Richardson and Cruddas Limited (Acquisition and Transfer of Under-takings) Act ,1972

Act No : 78

Section : MANAGEMENT OF THE OLD COMPANY

SECTION 10: MANAGEMENT OF THE OLD COMPANY

(1) The affairs of the old company shall be managed by a Custodian by the Central Government in this behalf:

Central Government may. if the Custodian declines to become, or to continue to function as the Custodian or if it is of opinion that it is necessary in the interests of the old company so to do, appoint any other person as the Custodian of the old company.

(2) The Custodian appointed under sub-section ( 1) shall receive from the funds of the old company, such emoluments as the Central Government may specify in this behalf.

(3) The Custodian shall hold office during UK pleasure of the Central Government.