Section 3
Transfer to, and vesting in, the Central Government of the undertakings of the Company.
The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980
About this Act
An Act to provide for the acquisition and transfer of the undertakings of Messrs. National Company 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 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 the Company, and the right, title and interest of
the Company in relation to its undertakings, shall, by virtue of this Act, stand transferred to, and vest in,
the Central Government.