Gujarat act 020 of 1986 : Gujarat Closed Textile Undertakings (Nationalisation) (Amendment) Act, 1986

Section 1. Short title

1. Short title.- This Act may be called the Gujarat Closed Textile Undertakings (Nationalisation) (Amendment) Act, 1986.

Section 2. Amendment of section 2 of Guj. 10 of 1986

2. Amendment of section 2 of Guj. 10 of 1986.- In the Gujarat Closed Textile Undertakings (Nationalization) Act, 1986 (Guj. 10 of 1986) (hereinafter referred to as "the principal Act"), in section 2, in sub-section 10 of (1), in clause (b), after sub-clause (iii), the following sub-clause shall be 1986, inserted, namely:-

"(iii-a) a corresponding new bank constituted under section 3 of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980."

Section 3. Amendment of First Schedule to Guj. 10 of 1986

3. Amendment of First Schedule to Guj. 10 of 1986.- In the principal Act, in the First Schedule, in entry 10, in column 8, for the words and letters "Shri Ambica Mills Ltd., Ahmedabad", the words and letters "The Sarangpur Cotton Mfg. Co. Ltd., Ahmedabad" shall be substituted.

Section 4. Amendment of Second schedule to Guj. 10 of 1986

4. Amendment of Second schedule to Guj. 10 of 1986.- In the principal Act, in the Second Schedule,-

(1) under the heading ‘Category I’, for the portion beginning with the words "all dues" and ending with the word "undertaking", the following shall be substituted, namely:-

"(i) All dues including gratuity of employees in the specified textile undertaking;

(ii) Arrears relating to contributions towards Provident Fund and contributions under the Employees' State Insurance Act, 1948 payable by the owner;";

(2) under the heading "Category II", for the portion beginning with the words "Arrears relating to" and ending with the words "local authority", the following shall be substituted, namely:-

"Arrears of Excise Duty, Sales Tax, dues relating to electricity and dues of a local authority.".