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

Central

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.

Act number
70 of 1980
Ministry
Ministry of Heavy Industries and Public Enterprises
Department
Department of Heavy Industry
Enacted
27 Dec 1980

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

34 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Transfer to, and vesting in, the Central Government of the undertakings of the two companies.
  4. Section 4General effect of vesting.
  5. Section 5Owners of the two Companies to be liable for certain prior liabilities.
  6. Section 6Power of Central Government to direct vesting of the undertakin gs of the two com panies in two Government Companies.
  7. Section 7Payment of amount.
  8. Section 8Payment of further amounts.
  9. Section 9Management, etc., of the undertakings of the two companies.
  10. Section 10Duty of persons in charge of management of the undertakings of the two companies to deliver all assets, etc.
  11. Section 11Duty of persons to account for assets, etc., in their possession.
  12. Section 12Accounts and audit.
  13. Section 13Continuance of employees
  14. Section 14Provident fund and other funds.
  15. Section 15Appointment of Commissioner of Payments.
  16. Section 16Payment by Central Government to the Commissioner.
  17. Section 17Certain powers of Central Government or Government companies.
  18. Section 18Claims to be made to the Commissioner.
  19. Section 19Priority of claims.
  20. Section 20Examination of claims.
  21. Section 21Admission or rejection of the claims.
  22. Section 22Disbursement of money by the Commissioner.
  23. Section 23Disbursement of amounts to the two companies.
  24. Section 24Undisbursed or unclaimed amount to be deposited with the general revenue account.
  25. Section 25Act to have overriding effect.
  26. Section 26Contracts to cease to have effect unless ratified by the Central Government or Government companies .
  27. Section 27Penalties.
  28. Section 28Omitted.
  29. Section 29Protection of action taken in good faith.
  30. Section 30Delegation of powers.
  31. Section 31Power to make rules.
  32. Section 32Power to remove difficulties.
  33. Section 33Repeal and saving.
  34. Section 27AAdjudication of penalties.