Report No. 251
9. Indian Copper Corporation (Acquisition of Undertaking) Act, Act 58 of 1972
Recommendation: Consider for Repeal
Indian Copper Corporation was nationalised through this Act and merged with Hindustan Copper. The Act provided for the nationalisation of the Indian Copper Corporation and 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.