The Bengal Chemical and Pharmaceutical Works Ltd. (Acquisition and Transfer of Undertakings) Act, 1980
Act No. 58 of 1980
[12th December, 1980.]
An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of the Bengal Chemical and Pharmaceutical Works Limited, and for matters connected therewith or incidental thereto.
WHEREAS the Bengal Chemical and Pharmaceutical Works Limited were engaged in the production and distribution of articles specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 (65 of 1951), namely, chemicals (other than fertilizers), drugs, pharmaceuticals and other products, which are essential to the needs of the general public;
AND WHEREAS the Central Government, being of opinion, after an investigation into the affairs of the Company, that the affairs of the Company have been managed in a manner highly detrimental to the public interest, had authorised, under section 18A of the Industries (Development and Regulation) Act, 1951 (65 of 1951), a body of persons to take over the management of the Company; AND WHEREAS for the purpose of reconstructing and rehabilitating the undertakings owned by the Company so as to subserve the interests of the general public by the augmentation of production and distribution of different varieties of chemicals (other than fertilizers), drugs, pharmaceuticals and other products which are essential to the needs of the general public and to secure the continued supply thereof, it is necessary to acquire the undertakings of the Company;
BE it enacted by Parliament in the Thirty-first Year of the Republic of India as follows:-