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The Jute Companies (Nationalisation) Act, 1980

[Act No. 62 of 1980]

[21st December, 1980.]

Sections Chaptericulars
Title The Jute Companies (Nationalisation) Act, 1980
Chapter I Preliminary
1. Short title
2. Definitions
Chapter II Acquisition and Transfer of The Undertakings of The Jute Companies
3. Transfer to, and vesting in, the Central Government of the undertakings of the jute companies
4. General Power of vesting
5. Jute companies to be liable for certain prior liabilities
6. Power of Central Government to direct vesting of the undertakings of the jute companies in Jute Manufactures Corporation
Chapter III Payment of Amounts
7. Payment of amount
8. Payment of further amount
Chapter IV Management, Etc., of The Undertakings of The Company
9. Management, etc., of the undertakings of the jute companies
10. Duty of persons in charge of management of the undertakings to deliver all assets, etc
11. Duty of persons to account for assets, etc., in their possession
Chapter V Provisions Relating to Employees of The Jute Companies
12. Continuance of employees
13. Provident fund and other funds
Chapter VI Commissioner of Payments
14. Appointment of Commissioner of Payments
15. Payment by Central Government to the Commissioner
16. Certain powers of Central Government or Jute Manufactures Corporation
17. Claims to be made to the Commissioner
18. Priority of Claims
19. Examination of claims
20. Admission or rejection of claims
21. Disbursement of money by the Commissioner
22. Disbursement of amounts to the jute companies
23. Undisbursed or unclaimed amounts to be deposited with the general revenue account
Chapter VII Miscellaneous
24. Act to have overriding effect
25. Assumption of liability
26. Management to continue to vest in certain persons until alternative arrangements have been made
27. Contracts to cease to have effect unless ratified by the Central Government or Jute Manufactures Corporation
28. Penalties
29. Offences by companies
30. Protection of action taken in good faith
31. Delegation of powers
32. Power to make rules
33. Power to remove difficulties
The Schedules
Schedule I Table
Schedule II Order of Priorities

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