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62/1980 - The Jute Companies (Nationalisation) Act, 1980 ▶

Act Number: 62

Act Name: The Jute Companies (Nationalisation) Act, 1980

Year: 1980

Enactment Date: 1980-12-21

Long Title: 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: Ministry of Textiles

Department:

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