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

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    Thumbs up Ministry of Textiles - The Jute Companies (Nationalisation) Act, 1980

    Ministry of Textiles

    MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS
    (Legislative Department)


    New Delhi, the 22nd December, 1980/Pausa 1, 1902 (Saka)

    The following Act of Parliament received the assent of the President on the 21st December, 1980, and is hereby published for general information:-

    THE JUTE COMPANIES (NATIONALISATION) ACT, 1980 No.62 OF 1980
    (21st December, 1980)

    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 sub serve 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.

    Whereas the said jute companies had been engaged in the manufacture and production of articles mentioned in the first Schedule to the Industries (Development and Regulation) Act, 1951, namely, textiles made wholly or in part of jute;

    And whereas the management of the undertakings of each of the said jute companies was taken over by the Central Government under the Industries (Development and Regulation) Act, 1951,
    And whereas it is necessary to acquire the undertakings of the said jute companies to ensure that the interests of the general public are served by the continuance, by the undertakings of the said jute companies, of the manufacture, production and distribution of the aforesaid articles which are essential to the needs of the economy of the country;

    Be it enacted by Parliament in the Thirty-first Year of the Republic of India as follows:-


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER - I - Section - 01 - Short title

    The Jute Companies (Nationalisation) Act, 1980

    CHAPTER - I


    PRELIMINARY

    Section - 01

    Short title


    This Act may be called the Jute Companies (Nationalisation) Act, 1980.


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 02 - Definitions

    The Jute Companies (Nationalisation) Act, 1980

    Section - 02

    Definitions


    In this, Act, unless the context otherwise requires,--



    (a) "appointed day" means the date of commencement of this Act;


    (b) "Commissioner" means the Commissioner of Payments appointed under section 14;


    (c) "jute companies" means the companies (being companies as defined in the Companies Act, 1956(1 of 1956)) specified in the First Schedule;


    (d) "Jute Manufactures Corporation" means the National Jute Manufactures Corporation Limited, a company incorporated and registered under the Companies Act, 1956(1 of 1956);


    (e) "notification" means a notification published in the Official Gazette;


    (f) "prescribed" means prescribed by rules made under this Act;


    (g) "specified date", in relation to any provision of this Act, means such date as the Central Government may, by notification, specify for the purposes of that provision, different dates may be specified for different provisions of this Act;


    (h) words and expressions used herein and not defined but defined in the Companies Act, 1956(1 of 1956), shall have the meanings respectively assigned to them in that Act.



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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER - II - ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE JUTE COMPANIES - Section - 03

    The Jute Companies (Nationalisation) Act, 1980


    CHAPTER - II

    ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE JUTE COMPANIES


    Section - 03

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

    On the appointed day, the undertakings of each of the jute companies, and the right, title and interest of each of the jute companies in relation to its undertakings, shall, by virtue of the Act,.stand transferred to, and shall vest in, the Central Government.

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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 04 - General Power of vesting

    The Jute Companies (Nationalisation) Act, 1980

    Section - 04

    General Power of vesting

    (1) The undertakings of each of the jute companies shall be deemed to include all assets, rights, lease-holds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, reserve funds, investments, book debts, and all other rights and interests in, or arising out of such, property as were immediately before the appointed day in the ownership, possession power or control of jute company, whether within or outside India, and all books of account, registers and all other documents of whatever nature relating thereto and shall also be deemed to include the liabilities specified in sub-section (2) of section 5.

    (2) All properties as aforesaid which have vested in the Central Government under section 3 shall, by force of such vesting, be freed and discharged from any trust, obligation, mortgage, charge, lien and all other incumbrances affecting them, and any attachment, injunction, decree or order of any court, tribunal or other authority restricting the use of such properties in any manner or appointing any receiver in respect of the whole or any part of such properties shall be deemed to have been withdrawn.

    (3) Every mortgagee of any property which has vested under this Act in the Central Government and every person holding any charge, lien or other interest in, or in relation, to, any such property shall give, within such time and in such manner as may be prescribed, an intimation to the Commissioner of such mortgage, charge, lien or other interest.

    (4) For the removal of doubts, it is hereby declared that the mortgagee of any property referred to in sub-section (3) or any other person holding any charge, lien or other interest in, or in relation to , any such property shall be entitled to claim, in accordance with his rights and interest, payment of the mortgage money or other dues, in whole or in part, out of the amounts directed to be given under sections 7 and 8 to the jute company concerned but no such mortgage, charge, lien or other interest shall be enforceable against any property which has vested in the Central Government.

    (5) Any licence or other instrument granted to either of the jute company in relation to its undertakings which has vested in the Central Government under section 3 at any time before the appointed day and in force immediately before that day shall continue to be in force on and after such day in accordance with its tenor in relation to an for the purposes of such undertakings, and , on and from the date of vesting of such undertaking under section 6 in the Jute Manufactures Corporation, that Corporation shall be deemed to be substituted in such licence or other instrument as if such licence or other instrument had been granted to such Corporation and such Corporation shall hold it for the remainder of the period for which the jute company would have held it under the terms thereof.

    (6) If, on the appointed day, any suit, appeal or other proceeding of whatever nature, in relation to any matter specified in sub-section (2) of section 5, in respect of the undertakings of any jute company which has vested in the Central Government under section 3, instituted or preferred by or against that company is pending, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer of the undertakings of such jute company or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the Central Government, or where the undertakings of the jute company are directed under section 6 to vest in the Jute Manufactures Corporation, by or against that Corporation.


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 05 - Jute companies to be liable for certain prior liabilities

    The Jute Companies (Nationalisation) Act, 1980

    Section - 05

    Jute companies to be liable for certain prior liabilities



    (1) Every liability other than the liability specified in sub-section (2), of a jute company in respect of any period prior to the appointed day, shall be the liability of that company and shall be enforceable against it, and not against the Central Government, or where the undertakings of the jute company vest in the Jute Manufacturers Corporation, against that Corporation.

    (2) Any liability arising in respect of loans advanced by the Central Government or any State Government, or both, to a jute company (together with interest due thereon) after the management of the undertakings of the said jute company had been taken over by the Central Government shall, on and from the appointed day, be the liability of the Central Government and shall be discharged by that Government, or by the Jute Manufactures Corporation as and when repayment of such loans becomes due and payable.

    (3) For the removal of doubts, it is hereby declared that:- (a) save as otherwise expressly provided in this Act, no liability, other than the liability specified in sub-section (2), of any jute company in relation to its undertakings in respect of any period prior to the appointed day, shall be enforceable against the Central Government or where the undertakings of such company are directed under section 6, to vest in the Jute Manufactures Corporation, against that Corporation;

    (b) no award, decree or order of any court, tribunal or other authority in relation to the undertakings of any jute company, passed after the appointed day, in respect of any matter, claim or dispute, which arose before that day, not being a matter, claim or dispute in relation to any liability specified in sub-section (2), shall be enforceable against the Central Government or where the undertakings of such company are directed under section 6, to vest in the Jute Manufactures Corporation against that Corporation;

    (c) no liability incurred by any jute company before the appointed day for the contravention of a provision of any law for the time being in force shall be enforceable against the Central Government or where the undertakings of such company are directed under section 6, to vest in the Jute Manufactures Corporation against that Corporation.

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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section -06 - Power of Central Government to direct vesting of the undertakings of the jute companies

    The Jute Companies (Nationalisation) Act, 1980

    Section - 06

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

    (1) Notwithstanding anything contained in section 3 and 4 the Central Government shall as soon as may be after the appointed day direct by notification that the undertakings of every jute company and the right title and interest of every jute company in relation to its undertakings which have vested in that Government under section3, and such of the liabilities of every jute company as are specified in sub-section (2) of section5 shall instead of continuing to vest in the Central Government vest in the Jute Manufactures Corporation either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification.

    (2) Where the right title and interest, and the liabilities referred to in sub-section(2) of section 5 of the jute companies in relation to their respective undertakings vest under sub-section(1) in the Jute Manufactures Corporation that Corporation shall on and from the date of such vesting be deemed to have become the owner in relation to such undertakings and all the rights and liabilities of the Central Government in relation to such undertakings shall on and from the date of such vesting be deemed to have become the rights and liabilities respectively of the Jute Manufactures Corporation.


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER - III - PAYMENT OF AMOUNTS - Section - 07

    The Jute Companies (Nationalisation) Act, 1980
    CHAPTER - III

    PAYMENT OF AMOUNTS


    Section - 07

    Payment of amount

    Every jute company shall be given by the Central Government for the transfer to and vesting in that Government under section 3 of the undertakings of that company and the right, title and interest of that company in relation to its undertakings in cash and in the manner specified in Chapter VI, such amount as is specified against the name of that company in the First Schedule.


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - Section - 08 - Payment of further amounts

    The Jute Companies (Nationalisation) Act, 1980

    Section - 08

    Payment of further amounts

    (1) Every jute company shall be given by the Central Government for the deprivation of the management of its undertakings, and mount of rupees ten thousand per annum for the period commencing on the date on which the management of the undertakings of that company was taken over in pursuance of the order made by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951 and ending on the appointed day.

    (2) Every amount specified in the First Schedule or calculated in accordance with the provisions of sub-section (1) shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which the payment of such amount is made by the Central Government to the Commissioner.

    (3) The amounts determined in relation to any jute company in accordance with the provisions of sub-section (1) and (2) shall be given by the Central Government to the jute company in addition to the amount specified in the First Schedule against that company.


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    Thumbs up The Jute Companies (Nationalisation) Act, 1980 - CHAPTER - IV - MANAGEMENT ETC. OF THE UNDERTAKINGS OF THE JUTE COMPANIES -Section - 09

    The Jute Companies (Nationalisation) Act, 1980

    CHAPTER - IV

    MANAGEMENT ETC. OF THE UNDERTAKINGS OF THE JUTE COMPANIES


    Section - 09

    Management, etc., of the under takings of the jute companies

    The general superintendence direction control and management of the affairs and business of the undertakings owned by each of the jute companies the right title and interest in relation to which have vested in the Central Government under section 3 shall where a direction has been made by the Central Government under sub –section (1) of section 6 vest in the Jute Manufactures Corporation and thereupon the Jute Manufactures Corporation shall be entitled to exercise to the exclusion of all other persons all such powers and do all such things in relation to each such undertaking as the jute company which owned it was authorised to exercise and do immediately before the appointed day.

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