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Thread: Ministry of Textiles - The Jute Companies (Nationalisation) Act, 1980

  1. #11
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 10 - Duty of persons in charge of management of the undertakings to deliver all assets etc.

    The Jute Companies (Nationalisation) Act, 1980


    Section - 10

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

    (1) On the vesting of the management of the undertakings of the jute companies in the Central Government or the Jute Manufactures Corporation as the case may be the persons in charge of the management of such undertakings immediately before such vesting shall be bound to deliver to the Central Government or the Jute Manufactures Corporation as the case may be all assets books of account registers and all other documents in their custody relating to such undertakings.

    (2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the Jute Manufactures Corporation and the said Corporation may also if it is considered necessary so to do apply to the Central Government at any time for instructions as to the manner in which the management of the undertakings of the jute companies shall be conducted or in relation to any other matter arising in the course of such management.


  2. #12
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 11 - Duty of persons to account for assets, etc., in their possession

    The Jute Companies (Nationalisation) Act, 1980
    Section - 11

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


    (1) Any person who has on the appointed day in his possession or under his control any assets, books, documents or other papers relating to any undertaking owned by a jute company which has vested in the Central Government or the Jute Manufactures Corporation under this Act, shall be liable to account for the said assets, books, documents and other papers to the Central Government or the Jute Manufactures Corporation and shall deliver them up to the Central Government or the Jute Manufactures Corporation or to such person or persons as the Central Government or the Jute Manufactures Corporation may specify in this behalf.

    (2) The Central Government or the Jute Manufactures Corporation may take or cause to be taken all necessary steps for securing possession of the undertakings of the jute companies which have vested in the Central Government or the Jute Manufactures Corporation under this Act.

    (3) Every jute company shall within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all its property and assets, as on the appointed day pertaining to its undertakings which have vested in the Central Government under section 3, and for this purpose the Central Government or the Jute Manufactures Corporation shall afford to such company all reasonable facilities.

  3. #13
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER - V - PROVISIONS RELATING TO EMPLOYEES OF THE JUTE COMPANIES - Section - 12

    The Jute Companies (Nationalisation) Act, 1980

    CHAPTER - V

    PROVISIONS RELATING TO EMPLOYEES OF THE JUTE COMPANIES

    Section - 12

    Continuance of employees

    (1) every person who has been immediately before the appointed day employed in any undertaking of any of the jute companies shall become-

    (a) on and from the appointed day an employee of the Central Government, and
    (b) where the undertakings of the jute companies are vested in the Jute Manufactures Corporation, an employee of the said Corporation, on and from the date of such vesting, and shall hold office or service under the Central Government or the Jute Manufactures Corporation as the case may be with the same rights and privileges as to pension gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Central Government or the Jute Manufactures Corporation, as the case may be, is duly terminated or until his remuneration and other conditions of service are duly altered by the Central Government or the Jute Manufactures Corporation, as the case may be.

    (2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 or in any other law for the time being in force, the transfer of the services of any officer or other person employed in any undertaking of the jute companies, to the Central Government or the Jute Manufactures Corporation, shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court tribunal or other authority.

  4. #14
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 13

    The Jute Companies (Nationalisation) Act, 1980

    Section - 13


    (1) Where a jute company has established a provident fund, superannuation fund, welfare fund or other funds for the benefit of persons employed in any of the undertakings owned by it, the monies relatable to its employees whose services have become transferred by or under this Act to the Central Government or the Jute Manufactures Corporation shall, out of the monies standing on the appointed day, to the credit of such provident fund, superannuation fund, welfare fund or other funds, stand transferred to, and vest in, the Central Government or the Jute Manufactures Corporation ,as the case may be.

    (2) The monies which stand transferred under sub-section (1) to the Central Government or the Jute Manufactures Corporation as the case may be shall be dealt with by that Government or Corporation in such manner as may be prescribed.


  5. #15
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER -VI - COMMISSIONER OF PAYMENT - Section - 14

    The Jute Companies (Nationalisation) Act, 1980

    CHAPTER -VI

    COMMISSIONER OF PAYMENT

    Section - 14

    Appointment of Commissioner of Payments

    (1) The Central Government shall, for the purpose of disbursing the amounts payable under sections 7 and 8 to the jute companies, by notification, appoint a Commissioner of Payments.

    (2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be authorised to exercise different powers.

    (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that persons directly by this Act and not by way of authorisation.

    (4) The salaries and allowances of the Commissioner and other persons appointed under this section shall be defrayed out of the Consolidated Fund of India.

  6. #16
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 15 - Payment by Central Government to the Commissioner

    The Jute Companies (Nationalisation) Act, 1980


    Section - 15

    Payment by Central Government to the Commissioner

    (1) The Central Government shall, within thirty days from the specified date pay in cash to the Commissioner, for payment to every jute company-

    (a) an amount equal to the amount specified against the name of that company in the First Schedule; (b) a further amount equal to the amount payable to that company under section 8.

    2 A deposit account shall be opened by the Central Government in favour of the Commissioner in the Public Account of India, and every amount paid under this Act to the commissioner shall be deposited by him to the credit of the said deposit account and the said deposit account shall be operated by the Commissioner.

    3 Separate records shall be maintained by the Commissioner in respect of each of the jute companies in relation to which payment has been made to him under this Act.

    4 Interest accruing on the amount in relation to a jute company standing to the credit of the deposit account referred to in sub-section (2) shall ensure to the benefit of such jute company.


  7. #17
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    Thumbs up The Jute Companies(Nationalisation) Act,1980 -Section -16 - Certain powers of Central Government or existing, or new,The Jute Manufactures Corporation

    The Jute Companies (Nationalisation) Act, 1980


    Section - 16

    Certain powers of Central Government or existing, or new, The Jute Manufactures Corporation


    (1) The Central Government or the Jute Manufactures Corporation, as the case may be, shall be entitled to receive, up to the specified date to the exclusion of all other persons, any money due to any jute company in relation to its undertakings which have vested in the Central Government or the Jute Manufactures Corporation, and realized after the appointed day, notwithstanding that the realization pertains to a period prior to the appointed day.

    (2) The Central Government or the Jute Manufactures Corporation, as the case may be, may make a claim to the Commissioner with regard to every payment made by that Government or Corporation, after the appointed day for discharging any liability of a jute company, not being any liability specified in sub-section (2) of section 5 in relation to any of the undertakings owned by it in respect of any period prior to the appointed day, and every such claim shall have priority, in accordance with the priorities attaching under this Act to the matter in relation to which such liability has been discharged by the Central Government or the Jute Manufactures Corporation.

    (3) Save as otherwise provided in this Act, the liabilities of a jute company in relation to any of the undertakings owned by it in respect of any transaction prior to the appointed day, which have not been discharged on or before the specified date, shall be the liabilities of that company.

  8. #18
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 17 - Claims to be made to the Commissioner

    The Jute Companies (Nationalisation) Act, 1980


    Section - 17

    Claims to be made to the Commissioner


    Every person having a claim against a jute company with regard to any of the matters specified in the Second Schedule, pertaining to any undertaking owned by it, shall prefer such claim before the Commissioner within thirty days from the specified date: Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the said period of thirty days, he may entertain the claim within a further period of thirty days, but not thereafter.

  9. #19
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 18 - Priority of claims

    The Jute Companies (Nationalisation) Act, 1980


    Section - 18

    Priority of claims


    The claims made under section 17 shall have priorities in accordance with the following principles namely:-

    (a) Category I shall have precedence over all other categories and Category II shall have precedence over Category III, and so on;

    (b) The claims specified in each of the categories shall rank equally and be paid in full but if the amount paid to the Commissioner under this Act is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly; and

    (c) The question of discharging any liability with regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category.

  10. #20
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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 19 - Examination of claims

    The Jute Companies (Nationalisation) Act, 1980


    Section - 19

    Examination of claims


    (1) On receipt of the claims made under section 17, the Commissioner shall arrange the claims in the order of priorities specified in the Second Schedule and examine the same in accordance with such order.


    (2) If, on examination of the claims against a jute company, the Commissioner is of opinion that the amount paid to him under this Act for payment to such company is not sufficient to meet the liabilities specified in any lower category, he shall not be required to examine the claims in respect of such lower category.

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