The Britannia Engineering Company Limited (Mokameh Unit) and the Arthur Butler and Company (Muzaffarpore) Limited (Acquisition and Transfer of Undertakings) Act, 1978

The Britannia Engineering Company Limited (Mokameh Unit) and the Arthur Butler and Company (Muzaffarpore) Limited (Acquisition and Transfer of Undertakings) Act, 1978 is an Indian law that deals with the acquisition and transfer of the undertakings of the Britannia Engineering Company Limited and the Arthur Butler and Company. The Act provides for the vesting of the undertakings of the two companies in the Central Government, and for the payment of compensation to the shareholders of the companies. The Act also lays down provisions for the transfer of the employees of the two companies to the Central Government, and for the continuation of their service. The Act was enacted to streamline the functioning of the two companies, and to ensure their efficient management and operation under the control of the Central Government.