Act 62 of 1980

The Jute Companies (Nationalisation) Act, 1980

An Act to provide for the acquisition and transfer of the undertakings of the jute companies, specified in the First Schedule 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 articles made of jute, which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.

  • Ministry of Textiles
  • Enacted 1980-12-21
  • 33 sections
SectionTitle
1 Short title.Read
2 Definitions.Read
3 Transfer to, and vesting in, the Central Government of the undertakings of the jute companies.Read
4 General Power of vesting.Read
5 Jute companies to be liable for certain prior liabilities.Read
6 Power of Central Government to direct vesting of the undertakings of the jute companies in Jute Manufactures Corporation.Read
7 Payment of amount.Read
8 Payment of further amount.Read
9 Management, etc., of the undertakings of the jute companies.Read
10 Duty of persons in charge of management of the undertakings to deliver all assets, etc.Read
11 Duty of persons to account for assets, etc., in their possession.Read
12 Continuance of employees.Read
13 Provident fund and other funds.Read
14 Appointment of Commissioner of Payments.Read
15 Payment by Central Government to the Commissioner.Read
16 Certain powers of Central Government or Jute Manufactures Corporation.Read
17 Claims to be made to the Commissioner.Read
18 Priority of Claims.Read
19 Examination of claims.Read
20 Admission or rejection of claims.Read
21 Disbursement of money by the Commissioner.Read
22 Disbursement of amounts to the jute companies.Read
23 Undisbursed or unclaimed amounts to be deposited with the general revenue account.Read
24 Act to have overriding effect.Read
25 Assumption of liability.Read
26 Management to continue to vest in certain persons until alternative arrangements have been made.Read
27 Contracts to cease to have effect unless ratified by the Central Government or Jute Manufactures Corporation.Read
28 Penalties.Read
29 Offences by companies.Read
30 Protection of action taken in good faith.Read
31 Delegation of powers.Read
32 Power to make rules.Read
33 Power to remove difficulties.Read
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