Section 3
Transfer to, and vesting in, the Central Government of the undertakings of the jute companies.
The Jute Companies (Nationalisation) Act, 1980
About this Act
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.
On the appointed day, the undertakings of every jute company, and the right, title and
interest of every jute company in relation to its undertakings shall, by virtue of this Act, stand transferred
to, and vest in, the Central Government.