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The Jute Companies (Nationalisation) Act

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.
1980
List of Chapters & Sections

  1. All sections

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