Report No. 251
22. Kosan Gas Company (Acquisition of Undertaking) Act, Act 28 of 1979
Recommendation: Consider for Repeal
The Act enabled the acquisition of the undertakings of the Kosan Gas Company by the Central Government. In 1979, Kosan Gas Company was merged with Hindustan Petroleum Corporation Limited (HPCL). 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.