The Industries (Development and Regulation)  Act

Short title, extent and commencement

Declaration as to expediency of control by the Union

Definitions

[Omitted.]

Establishment and constitution of Central Advisory Council and its functions

Establishment and constitution of Development Councils and their functions

Reports and accounts of Development Councils

Dissolution of Development Councils

Imposition of cess on scheduled industries in certain cases

Registration of existing industrial undertakings

Revocation of registration in certain cases

Licensing of new industrial undertakings

Licence for producing or manufacturing new articles

Power of Central Government to specify the requirements which shall be complied with by  small scale industrial undertakings

Revocation and amendment of licences in certain cases

Further provision for licensing of industrial undertakings in special cases

Procedure for the grant of licence or permission

Power to cause investigation to be made into scheduled industries or industrial undertakings

Power to investigate into the affairs of a company in liquidation

Powers of Central Government on completion of investigation under section 15

Power of person or body of persons appointed under section 15 to call for assistance in any  investigation

Power of Central Government to assume management or control of an industrial undertaking in  certain cases

Power to take over industrial undertakings without investigation under certain circumstances

Effect of notified order under section 18A

Contracts in bad faith, etc., may be cancelled or varied

No right to compensation for termination of office or contract

Application of Act 7 of 1913

Power of Central Government to cancel notified order under section 18A

Power of Central Government to authorise, with the permission of the High Court, persons to  take over management or control of industrial undertakings

Power of Central Government to make certain declarations in relation to industrial  undertakings, the management or control of which has been taken over under section 18A,  section 18AA or section 18FA

Power of Central Government to call for report on the affairs and working of managed  company

Decision of Central Government in relation to managed Company

Provisions where Government decides to follow the course of action specified in section 18FD  (1)

Provisions where Government decides to follow the course of action specified in section 18FD  (2)

Preparation of inventory of assets and liabilities and list of members and creditors of managed  company

Stay of suits and other proceedings

Power to control supply, distribution, price, etc., of certain articles

Powers of inspection

General prohibition of taking over management or control of industrial undertakings

Certain administrative expenses of Development Councils to be paid from moneys provided by  Parliament

Power of the Central Government to issue directions to Development Council

Decision of Central Government final respecting certain matters

Penalties

Penalty for false statements

Delegation of powers

Power to issue directions

Cognizance of offences

Burden of proof in certain cases

Jurisdiction of courts

Special provision regarding fines

Power to exempt in special cases

Protection of action taken under the Act

Debts incurred by the authorised person to have priority

Validation

Power to make rules

Application of other laws not barred

[Repealed.]

All sections

(1) The Central Government may, if it is satisfied that a
Development Council should cease to continue in being, by notified order, dissolve that Development
Council.

(2) On the dissolution of a Development Council under sub-section (1), the assets of the Development
Council, after its liabilities, if any, are met therefrom, shall vest in the Central Government for the
purposes of this Act.

LAWGIST

# 8 Dissolution of Development Councils