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The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

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The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

CONTENTS

Sections

Particulars

1 Short Title and commencement
2 Definitions
3 Acquisition of rights of tea companies in respect of sick tea units
4 General effect of vesting
5 Tea companies to be liable for certain prior
6 Payment of amount
7 Payment of further amount
8 Management etc. of the sick tea units of the tea companies
9 Duty of persons in charge of management of the sick tea units to delivery all assets, etc
10 Duty of persons to account for assets, etc.in their possession
11 Continuance of employees
12 Provident fund and other funds
13 Appointment of Commissioner of Payments
14 Payment by the Central Government to the Commissioner
15 Certain powers of the Tea Trading Corporation
16 Claims to be made to the Commissioner
17 Priority of claims
18 Examination of claims
19 Admission or rejection of claims
20 Disbursement of money by the Commissioner
21 Disbursement of amounts to the tea companies
22 Undisbursed or unclaimed amounts to be deposited with the general revenue account
23 Act to have overriding effect
24 Assumption of liability
25 Management to continue to vest in certain persons until alternative arrangements have been made
26 Contracts to cease to have effect unless ratified by the Tea Trading Corporation
27 Penalties
28 Offences by companies
29 Protection of action taken in good faith
30 Tea companies not to be wound up by the court
31 Delegation of powers
32 Power to make rules
33 Power to remove difficulties
34 Repeal and saving
Schedule Schedule 1
Schedule 2

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