Section 2 in The Indian Council of World Affairs Act, 2001
Title: Declaration of the Indian Council of World Affairs as institution of national importance
Whereas the objects of the Indian Council of World Affairs, a society registered under the Societies Registration Act, 1860 (21 of 1860) are such as to make the institution one of national importance, it is hereby declared that the institution, known as the Indian Council of World Affairs, is an institution of national importance.
In this Act, unless the context otherwise requires,--
(a) "appointed day" means the date of commencement of this Act;
(b) "Chairperson" means the Chairperson of the Governing Body;
(c) "Council" means the Indian Council of World Affairs incorporated under section 4;
(d) "Director-General" means the Director-General of the Council;
(e) "existing Council" means the Indian Council of World Affairs, a society registered under the Societies Registration Act, 1860 (21 of 1860) and functioning as such immediately before the appointed day;
(f) "Fund" means the Fund of the Council referred to in section 18;
(g) "Governing Body" means the Governing Body of the Council;
(h) "member" means a member of the Council and includes the President and Vice-President;
(i) "President" means the President of the Council;
(j) "regulations" means the regulations made under this Act;
(k) "rules" means the rules made under this Act;
(l) "Vice-Presidents" means the Vice-Presidents of the Council.
Title: Incorporation of the Council
(1) The Indian Council of World Affairs is hereby constituted as a body corporate by the name of the Indian Council of World Affairs and as such body corporate it shall have perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property, both movable and immovable, and to contract and shall by that name sue and be sued.
(2) The head office of the Council shall be at Delhi and the Council may, with the previous approval of the Central Government, establish branches at other places in India.
Title: Transfer of assets and liabilities of the existing Council to the Council
(1) On and from the appointed day,--
(a) all properties and other assets vested in the existing Council immediately before that day, shall vest in the Council;
(b) all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the existing Council immediately before that day for or in connection with the purposes of the existing Council, shall be deemed to have been incurred, entered into and engaged to be done by, with or for the Council;
(c) all sums of money due to the existing Council, immediately before that day, shall be deemed to be due to the Council;
(d) all suits and other legal proceedings instituted or which could have been instituted by or against the existing Council, immediately before that day, may be continued or instituted by or against the Council; and
(e) every employee holding any office under the existing Council immediately before that day, shall, on that day, hold his office or service under the Council with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting; and shall continue to do so unless and until his employment under the Council is duly terminated or until his remuneration and other conditions of service are duly altered by the Council.
(2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947) or in any other law for the time being in force, the absorption of any employee by the Council in its regular service under this section shall not entitle such employee to any compensation under that Act or any other law and no such claim shall be entertained by any court, tribunal or other authority.
Title: Obligation to transfer property or assets
(1) Every person having possession, custody or control of property forming part of the properties and other assets referred to in clause (a) of sub-section (1) of section 5 shall deliver forthwith such property to the Director-General.
(2) Any person in charge of the property and other assets of the existing Council immediately before the commencement of this Act shall, within ten days from that day, furnish to the Director-General a complete inventory of all properties and assets (including particulars of book debts and investments and belongings) immediately before the commencement of this Act and also of all agreements entered into by the existing Council or any person on its behalf.