Report No. 251
14. Braithwaite and Company (India) Limited (Acquisition and Transfer of Undertakings) Act, Act 96 of 1976
Recommendation: Consider for Repeal
This Act transferred all assets, rights, powers and properties of Braithwaite and Company to the Central Government. Currently, Braithwaite is a subsidiary to the Bharat Bhari Udyog Nigam Limited (BBUNL) and under the administrative control of the Department of Heavy Industries.
The Act provided for the nationalisation of Braithwaite and Company and for matters connected therewith, such as amount to be paid on transfer of the undertaking of the Company, transfer of service of existing employees, etc. The purpose of this Act has been served insofar the nationalisation of the concerned entity was concerned. The Act does not contain provisions of the management of the nationalised entity.
Hence, this Act does not serve any continuing purpose with respect to the nationalised entity. As a matter of abundant caution, a study of all the nationalisation Acts should be done before with a view to consider repeal of these Acts. If necessary, a suitable savings clause should be inserted in the repealing Act.