35. Directions by Commission.-

(1)

Any enterprise or management which is approved by the Cabinet as eligible for privatisation, shall-

(a)

carry out any directions issued by the Commission in writing;

(b)

keep up-to-date business records and books of account;

(c)

not perform any action that would result in the assets of the company or business undertaking or property being lost or wasted;

(d)

not incur any liability other than in the ordinary course of business without the prior written approval of the Commission;

(e)

not give any person information other than in the ordinary course of business which might confer any advantage on that person or a potential buyer; and

(f)

refrain from taking any action which may cause industrial unrest.

(2)

The Commission shall after approval under sub-section (1) take all steps, including as to change of management necessary for initiating and completing the privatisation in accordance with sound commercial principles and practices conducive to efficiency and economy.