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The Jute Companies (Nationalisation) Act, 1980

Central

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.

Act number
62 of 1980
Ministry
Ministry of Textiles
Enacted
21 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.

33 sections

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