Textile Undertakings (Nationalisation) Act, 1995

The Textile Undertakings (Nationalisation) Act, 1995

कपड़ा उपक्रम (राष्‍ट्रीयकरण)अधिनियम, 1995

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	199539
Act Number:	39
Enactment Date:	1995-09-08
Act Year:	1995
Short Title:	The Textile Undertakings (Nationalisation) Act, 1995
Hindi Title:	कपड़ा उपक्रम (राष्‍ट्रीयकरण)अधिनियम, 1995
Long Title:	An Act to provide for the acquisition and transfer of the textile undertakings, and the right, title and interest of the owners in respect of the textile undertakings, specified in the First Schedule with a view to augmenting the production and distribution of different varieties of cloth and yarn so as to subserve the interests of the general public and for matters connected therewith or incidental thereto.
Ministry:	Ministry of Textiles
Enforcement Date:	01-04-1994
Notification:	Ss. 31 and 32 (08-09-1995)


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE Order Appendix Forms

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Show all section The Textile Undertakings (Nationalisation) Act, 1995

CHAPTER I

PRELIMINARY

CHAPTER II

ACQUISITION AND TRANSFER OF THE TEXTILE UNDERTAKINGS

CHAPTER III

PAYMENT OF AMOUNTS

CHAPTER IV

MANAGEMENT, ETC., OF TEXTILE UNDERTAKINGS

CHAPTER V

PROVISIONS RELATING TO EMPLOYEES OF TEXTILE UNDERTAKINGS

CHAPTER VI

COMMISSIONERS OF PAYMENTS

CHAPTER VII

MISCELLANEOUS


Section 1. Short title and commencement.
Section 2. Definitions.
Section 3. Acquisition of rights of owners and vesting of the textile undertakings. Show Related Subordinates
Section 4. General effect of vesting. Show Related Subordinates
Section 5. Owner to be liable for certain prior liabilities.
Section 6. Transfer of any textile undertaking or part thereof to a subsidiary textile corporation.
Section 7. Shares to be issued by the National Textile Corporation for the value of the assets transferred to it by the Central Government.
Section 8. Payment of amount to owners of textile undertakings. Show Related Subordinates
Section 9. Payment of further amount. Show Related Subordinates
Section 10. Management, etc., of textile undertakings.
Section 11. Special provision for disposal of assets of the textile undertakings in certain circumstances.
Section 12. Duty of persons in charge of management of textile undertakings to deliver all assets, etc.
Section 13. Accounts.
Section 14. Employment of certain employees to continue.
Section 15. Provident and other funds.
Section 16. Transfer of employees to a subsidiary textile corporation.
Section 17. Appointment of Commissioners of Payments.
Section 18. Payment by the Central Government to the Commissioner. Show Related Subordinates
Section 19. Certain powers of the National Textile Corporation.
Section 20. Claims to be made to the Commissioner. Show Related Subordinates
Section 21. Priority of claims.
Section 22. Examination of claims.
Section 23. Admission or rejection of claims.
Section 24. Disbursement of money by the Commissioner to claimants.
Section 25. Disbursement of amounts to the owners.
Section 26. Undisbursed or unclaimed amounts to be deposited to the general reserve account.
Section 27. Assumption of liability.
Section 28. Management to continue to vest in the custodian until alternative arrangements are made.
Section 29. Act to override all other enactments.
Section 30. Contracts to cease to have effect unless ratified by the National Textile Corporation.
Section 31. Penalties.
Section 32. Offences by companies.
Section 33. Protection of action taken in good faith.
Section 34. Textile companies not to be wound up by the court.
Section 35. Delegation of powers.
Section 36. Power to make rules. Show Related Subordinates
Section 37. Power to remove difficulties.
Section 38. Repeal and saving.
Section 39. Validation.


Schedule 1. THE FIRST SCHEDULE Order Appendix Forms
Schedule 2. THE SECOND SCHEDULE Order Appendix Forms

Schedule 1. THE FIRST SCHEDULE

Schedule 2. THE SECOND SCHEDULE