Indian Bare Acts

THE TEA COMPANIES (ACQUISITION AND TRANSFER OF SICK TEA UNITS) ACT,1985

Title : THE TEA COMPANIES (ACQUISITION AND TRANSFER OF SICK TEA UNITS) ACT,1985

Year : 1985

[Act, No. 37 of 1985]
[28th May, 1985]

PREAMBLE

An Act to provide for the acquisition and transfer of the sick tea units specified in the First Schedule and The right, title and interest of the tea companies in respect of the said tea units with a view to securing Proper reorganisation and management of such tea units so as to sub serve the interests of the general public by augmenting the production and manufacture of different varieties of tea which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
WHEREAS the sick tea units specified in the First Schedule had been engaged in the production and manufacture of different varieties of tea;

AND WHEREAS the management of the said tea units was taken over by the Central Government under the Tea Act, 1953; (29 of 1953)

AND WHEREAS the Central Government had invested large sums of money with a view to making the said tea units viable;

AND WHEREAS further investment of large sums of money is necessary for reorganising and rehabilitating the said tea units;

AND WHEREAS the acquisition by the Central Government of the said tea units is necessary to enable it to invest such large sums of money and to protect the large investments already made and also the interests of the workmen employed therein by proper reorganisation and management of the said tea units and thereby to augment the production and manufacture of different varieties of tea which are essential to the needs of the economy of the country;

BE it enacted by Parliament in the Thirty-sixth Year of the Republic of India as follows:-



(1) This Act may be called the Tea Companies (Acquisition and Transfer of Sick Tea Units) Act, 1985.
 
(2) It shall be deemed to have come into force on the 8th day of April, 1985.



In this Act, unless the context otherwise requires,-

(a) "Appointed day" means the date of commencement of this Act ;

(b) "Commissioner" means the Commissioner of Payments appointed under section 13;

(c) "Notification" means a notification published in the Official Gazette;

(d) "Prescribed" means prescribed by rues made under this Act;

(e) "Sick tea unit" means a tea unit, specified in column (2) of the First Schedule, the management of which had, before the appointed day, been taken over by the Central Government under the Tea Act, 1953, 29 of 1953; (29 of 1953)

(f) "Specified date", in relation to any provision of this Act, means such date as the Central Government may, by notification, specify for the purposes of that provision and different dates may be specified for different provisions of this Act;

(g) "Tea companies" means the companies (being companies as defined in the Companies Act, 1956) (1 of 1956) specified in column (3) of the First Schedule;

(h) "Tea Trading Corporation" means the Tea Trading Corporation of India Limited, a company incorporated and registered under the Companies Act, 1956; (1 of 1956)

(i) Words and expressions used herein and not defined but defined in the Tea Act, 1953, (29 of 1953) shall have the meanings respectively assigned to them in that Act;29 of 1953,

(j) Words and expressions used herein and not defined either in this Act or in the Tea Act, 1953, (29 of 1953) but defined in the Companies Act , 1956, (1of 1956) shall have the meanings respectively assigned to them in the Companies Act, 1956, (1 of 1956)

Last updated on July, 2016

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