Section 3
Transfer to, and vesting in, the Central Government of the undertakings of the two companies.
The Hind Cycles Limited and Sen-Raleigh Limited (Nationalisation) Act, 1980
About this Act
An Act to provide for the acquisition of the undertakings of the Hind Cycles Limited, and Sen-Raleigh Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of bicycles, and their component parts and accessories which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
On the appointed day, the undertakings of each of the two companies, and the right, title
and interest of each of the two companies in relation to such undertakings, shall, by virtue of the Act,
stand transferred to, and shall vest in, the Central Government.