Act Number: 70

Act Name: The Hind Cycles Limited and Sen-Raleigh Limited (Nationalisation) Act, 1980

Year: 1980

Enactment Date: 1980-12-27

Long Title: 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.

Ministry: Ministry of Heavy Industries and Public Enterprises

Department: Department of Heavy Industry

Section 15: Appointment of Commissioner of Payments.
    (1) The Central Government shall, for the purpose of disbursing the amounts payable under sections 7 and 8 to each of the two companies, by notification, appoint a Commissioner of Payments.
     (2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be authorised to exercise different powers.
     (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act and not by way of authorisation.
     (4) The salaries and allowances of the Commissioner and other persons appointed under this section shall be defrayed out of the Consolidated Fund of India.
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