Act Number: 42

Act Name: The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980

Year: 1980

Enactment Date: 1980-07-19

Long Title: 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.

Ministry: Ministry of Textiles

Department:

Section 22: Disbursement of money by the Commissioner.
    After admitting a claim under this Act, the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due and on such payment, the liability of the Company in respect of any claim relating to the undertakings owned by it shall stand discharged.
Notes:

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