The Oil Industry (Development) Act, 1974

Sections

1. 0Section 0
2. V — MISCELLANEOUS
3. 1Ins. by Act 7 of 2017, s. 140 (w.e.f. 1-4-2017)
4. I — PRELIMINARY
5. 2Definitions
6. II — THE OIL INDUSTRY DEVELOPMENT BOARD
7. 3Establishment and constitution of the Board
8. 4Conditions of service of members
9. 5Secretary, officers, consultants and employees of the Board
10. 6Functions of the Board
11. 7Principles and conditions of assistance
12. 8Power to call for repayment before agreed period
13. 9Special provisions for enforcement of claims by the Board
14. 10Power of Board to appoint Directors of oil industrial concern
15. 11Effect of notified order appointing Director
16. 12Powers and duties of the Directors
17. 13No right to compensation for loss of office
18. 14Application of Act 1 of 1956
19. III — FINANCE, ACCOUNTS AND AUDIT
20. 15Duties of excise
21. 16Crediting of proceeds of duty to Consolidated Fund of India
22. 17Grants and loans by the Central Government
23. 18Oil Industry Development Fund
24. 19Power to borrow
25. 20Accounts and audit
26. IV — CONTROL BY THE CENTRAL GOVERNMENT
27. 21Power to require persons engaged in oil industry to maintain and produce books, accounts and records relating to business and inspection thereof
28. 22Directions by the Central Government
29. V — MISCELLANEOUS
30. 24Other penalties
31. 25Offences by companies
32. 26Jurisdiction of courts
33. 27Previous sanction of Central Government
34. 28Protection of action taken in good faith
35. 29Dissolution of the Board
36. 30Act to have overriding effect
37. 31Power to make rules