The Hind Cycles Ltd. and Sen-Raleigh Ltd. (Nationalisation) Act, 1980

Act No. 70 of 1980

[27th December, 1980.]

An Act to provide for the acquisition of the undertakings of the Hind Cycles Limited, and Sen-Raleigh Limited, 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 bicycles, and their component parts and accessories which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.

WHEREAS Hind Cycles Limited and Sen-Raleigh Limited had been engaged in the manufacture production of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951(65 of 1951), namely, bicycle and their component parts and accessories; AND WHEAREAS the management of the undertakings of Hind Cycles Limited and Sen-Raleigh Limited were taken over by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951(65 of 1951); AND WHEAREAS it is necessary to acquire the undertakings of Hind Cycles Limited and Sen-Raleigh Limited to ensure that the interests of the general public are served by the continuance, by the undertakings of the two 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:-