THE JUTE COMPANIES (NATIONALISATION) ACT, 1980

ACT NO. 62 OF 1980 · Enacted [21st December, 1980.] · 33 sections

PRELIMINARY

Section 1.Short title.

Section 2.Definitions.

ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE JUTE COMPANIES

Section 3.Transfer to, and vesting in, the Central Government of the undertakings of the jute companies.

Section 4.General Power of vesting.

Section 5.Jute companies to be liable for certain prior liabilities.

Section 6.Power of Central Government to direct vesting of the undertakings of the jute companies in Jute Manufactures Corporation.

PAYMENT OF AMOUNTS

Section 7.Payment of amount.

Section 8.Payment of further amount.

MANAGEMENT, ETC., OF THE UNDERTAKINGS OF THE JUTE COMPANIES

Section 9.Management, etc., of the undertakings of the jute companies.

Section 10.Duty of persons in charge of management of the undertakings to deliver all assets, etc.

Section 11.Duty of persons to account for assets, etc., in their possession.

PROVISIONS RELATING TO EMPLOYEES OF THE JUTE COMPANIES

Section 12.Continuance of employees.

Section 13.Provident fund and other funds.

COMMISSIONER OF PAYMENTS

Section 14.Appointment of Commissioner of Payments.

Section 15.Payment by Central Government to the Commissioner.

Section 16.Certain powers of Central Government or Jute Manufactures Corporation.

Section 17.Claims to be made to the Commissioner.

Section 18.Priority of Claims.

Section 19.Examination of claims.

Section 20.Admission or rejection of claims.

Section 21.Disbursement of money by the Commissioner.

Section 22.Disbursement of amounts to the jute companies.

Section 23.Undisbursed or unclaimed amounts to be deposited with the general revenue account.

MISCELLANEOUS

Section 24.Act to have overriding effect.

Section 25.Assumption of liability.

Section 26.Management to continue to vest in certain persons until alternative arrangements have been made.

Section 27.Contracts to cease to have effect unless ratified by the Central Government or Jute Manufactures Corporation.

Section 28.Penalties.

Section 29.Offences by companies.

Section 30.Protection of action taken in good faith.

Section 31.Delegation of powers.

Section 32.Power to make rules.

Section 33.Power to remove difficulties.