Report No. 251
30. Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, Act 30 of 1986
Recommendation: Consider for Repeal
The Act enabled the acquisition and transfer of certain textiles of the undertakings of the Swadeshi Cotton Mills Company Limited. The management of Swadeshi Cotton Mills was taken over by the Central Government and the National Textile Corporation (NTC) was appointed to manage the affairs of the Mill. 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.