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Section 25 – The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

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

Section 25. Management to continue to vest in certain persons until alternative arrangements have been made

Notwithstanding the vesting under this Act of a sick tea unit of any tea company in the Tea Trading Corporation-

(a) Any person who has been managing the affairs of such sick tea unit before the date on which that unit had so vested shall, until alternative arrangements have been made by the Tea Trading Corporation for the management of such unit, continue to manage the affairs of the unit , as it such person had been authorised by the Tea Trading Corporation, to manage such unit;

(b) Such person shall, until alternative arrangements have been made by the Tea Trading Corporation, continue to be authorised to operate, in relation to the sick tea unit of such tea company, any account of such unit in any bank as if he had been authorised by the Tea Trading Corporation to operate such account.

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

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