(1) This Act may be called the Jammu and Kashmir Extraction of Resin Act, 1988.
In this Act, unless the context otherwise requires,––
Notwithstanding anything to the contrary contained in any law, rule, order, instrument, agreement or contract or in any judgment, decree or order of any Court or Authority, no person, other than the 2[Government of the Union territory of Jammu and Kashmir] shall as from the commencement of this Act,––
(1) All resin extracted under section 3 shall be stored at resin depots and thereafter shall be sold by the 2[Government of the Union territory of Jammu and Kashmir] to the Jammu and Kashmir Industries Limited for processing.
(1) The 2[Government of the Union territory of Jammu and Kashmir] shall, having due regard to the following facts, fix the price at which resin shall be sold by it during a year, namely: ––
Any person who contravenes the provisions of this Act or abets the contravention thereof shall be punishable with imprisonment for a term which may extend to five years but shall not be less than three years.
(1) The 1[Government of the Union territory of Jammu and Kashmir] may, by notification in the 2[Official Gazette], make rules for carrying out the purposes of this Act.
The Jammu and Kashmir Extraction of Resin Act, 1986 (Governor’s Act No. VII of 1986) is hereby repealed.