The ESSO Undertakings Acquisition Act, 1975

( ACT NO. XVI OF 1975 )

[ 14th July, 1975 ]
An Act to provide for acquisition of undertakings in Bangladesh of ESSO Eastern Inc.

 
 
 
WHEREAS in pursuance of an offer made to it the Government have agreed to acquire the undertakings in Bangladesh of ESSO Eastern Inc. of the United States;
 
 
 
 
It is hereby enacted as follows:-
 
 
 

CONTENTS

SECTIONS

1. Short title and commencement

2. Definitions

3. Acquisition of ESSO undertakings

4. Effect of acquisition

5. Payment of compensation

6. Provisions relating to officers and other employees of ESSO

7. Transfer of moneys etc., of the officers and other employees of ESSO

8. Deliver of possession of property, etc.

9. Penalty

10. Offences by companies

11. Protection of action taken in good faith

12. Cognizance of offences

13. Power to remove difficulties

14. Repeal and savings