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The ESSO Undertakings Acquisition Act, 1975

( ACT NO. XVI OF 1975 )

2. In this Act, unless there is anything repugnant in the subject or context,-
(1) “appointed day” means the day specified in the notification under section 3;
(2) “ESSO” means ESSO Eastern Inc. of the United States;
(3) “ESSO undertakings” means the business in Bangladesh of ESSO of purchasing, distributing, marketing and reselling of petroleum products and the interests of ESSO in the issued and paid up share capital of the Standard Asiatic Oil Company Limited and includes-
(a) all assets, rights, powers, authorities and privileges and all property, movable and immovable, cash balances, reserve funds, investments and all other rights and interests in or arising out of, such property as were, immediately before the appointed day, in the ownership, possession, power or control of ESSO in relation to such undertakings;
(b) all books of account, registers, records and all other documents of whatever nature relating thereto; and
(c) all borrowings, liabilities and obligations of whatever kind then subsisting of ESSO in relation to such undertakings,
but does not include-
(i) any trade mark, and any right of ESSO to use any trade mark in Bangladesh;
(ii) all patents and designs, if any, registered in Bangladesh in the name of ESSO or ESSO's affiliates; and
(iii) confidential and proprietary information material, and information and material pertaining to trade secrets furnished by ESSO to such undertakings or procured by ESSO for use in connection with such undertakings from any other source.

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Ministry of Law, Justice and Parliamentary Affairs