The Hind Cycles Limited and Sen-Raleigh Limited (Nationalisation) Act, 1980

An Act to provide for the acquisition of the undertakings of the Hind Cycles Limited, and Sen-Raleigh Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of bicycles, and their component parts and accessories which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.

The Hind Cycles Limited and Sen-Raleigh Limited (Nationalisation) Act, 1980 has 33 sections in 7 chapters. Each link below opens the official text of that section. Official PDF on India Code.

Chapter I: PRELIMINARY

Section 1 – Short title and commencement
Section 2 – Definitions

Chapter II: ACQUISITION OF THE UNDERTAKINGS OF THE TWO COMPANIES

Section 3 – Transfer to, and vesting in, the Central Government of the undertakings of the two companies
Section 4 – General effect of vesting
Section 5 – Owners of the two Companies to be liable for certain prior liabilities
Section 6 – Power of Central Government to direct vesting of the undertakin gs of the two com panies in two Government Companies

Chapter III: PAYMENT OF AMOUNTS

Section 7 – Payment of amount
Section 8 – Payment of further amounts

Chapter IV: MANAGEMENT, ETC., OF THE UNDERTAKINGS OF THE TWO COMPANIES

Section 9 – Management, etc., of the undertakings of the two companies
Section 10 – Duty of persons in charge of management of the undertakings of the two companies to deliver all assets, etc
Section 11 – Duty of persons to account for assets, etc., in their possession
Section 12 – Accounts and audit

Chapter V: PROVISIONS RELATING TO EMPLOYEES OF THE TWO COMPANIES

Section 13 – Continuance of employees
Section 14 – Provident fund and other funds

Chapter VI: COMMISSIONER OF PAYMENTS

Section 15 – Appointment of Commissioner of Payments
Section 16 – Payment by Central Government to the Commissioner
Section 17 – Certain powers of Central Government or Government companies
Section 18 – Claims to be made to the Commissioner
Section 19 – Priority of claims
Section 20 – Examination of claims
Section 21 – Admission or rejection of the claims
Section 22 – Disbursement of money by the Commissioner
Section 23 – Disbursement of amounts to the two companies
Section 24 – Undisbursed or unclaimed amount to be deposited with the general revenue account

Chapter VII: MISCELLANEOUS

Section 25 – Act to have overriding effect
Section 26 – Contracts to cease to have effect unless ratified by the Central Government or Government companies
Section 27 – Penalties
Section 28 – Offences by companies
Section 29 – Protection of action taken in good faith
Section 30 – Delegation of powers
Section 31 – Power to make rules
Section 32 – Power to remove difficulties
Section 33 – Repeal and saving