Report No. 251
23. Jute Companies (Nationalisation) Act, Act 62 of 1980
Category: Nationalisation
Recommendation: Consider for Repeal
This Act was passed to acquire and transfer the undertaking of six jute companies, namely, National Company Limited, Alexandra Jute Mills Limited, Union Jute Company Limited, Khardah Company Limited, Kinnison Jute Mills Company Limited and RBHM Jute Mills Private Limited. The assets of these companies vest in National Jute Manufacturers Corporation Limited (NJMC), with effect from June 1980.
The purpose of this Act has been served insofar the nationalisation of the concerned entity was concerned. 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.
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