REGISTERED No. D-(D)-72 The Gazette of India EXTRAORDINARY
PART II—Section 1 PUBLISHED BY AUTHORITY No. 52] NEW DELHI, MONDAY, OCTOBER 13, 1980/ASVINA 21, 1902 Separate paging is given to this Part in order that it may be filed as a separate compilation MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 13th October, 1980/ Asvina 21, 1902 {Saka) THE TEA (AMENDMENT) ORDINANCE, 1980 No. 15 OF 1980 Promulgated by the President in the Thirty-first Year of the Republic of India.
An Ordinance further to amend the Tea Act, 1953.
WHEREAS Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to lake immediate action;
Now, THEREFORE, in exercise of the powers conferred by clause (1) of : article 123 of the Constitution, the President is pleased to promulgate the following Ordinance;—
1. (2) This Ordinance may be called the Tea (Amendment) Ordinance,
1980.
(2) This Ordinance, except section 4 thereof, shall be deemed to have come into force on and with effect from the date of commencement of the Tea ;75 of 1976. '(Amendment) Act, 1976.
(499) Short title and commencement.
500 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 1] Amend- 2. In the Tea Act, 1953 (hereinafter referred to as the principal Act), in 29 of 1953 ment of section 16E, in sub-section (1),— section
(a) in clause (a), between the words "by reckless investments or" and "creation of incumbrances", the word "by" shall be inserted;
(b) the followng Explanation shall be inserted at the end, namely:— 'Explanation.—For the purposes of this sub-section, "incumbrances" includes any liability which may be recovered or satisfied from the assets of the tea undertaking or, as the case may be, tea unit or the person owning the tea undertaking or tea unit.'.
Insertion 3- After section 16L of the principal Act, the following section shall be ef new inserted, namely :— section
16LL.
DebtE in- "16LL. Every debt arising out of any loan or any other financial curred and accommodation obtained by the authorised person for carrying oc the invest- management of, or exercising functions of control in relation to, the whole m e " t s or any part of a tea undertaking or tea unit, the management of which has the autho- ^>een t a^eP ov&r o r ' s Purj?orted to have been taken over under section 16E) rised per- o r section 16E or section 16-1,— son to hove ° n y* (a) shall have priority over all other debts, whether secured or unsecured, incurred before the management of such tea undertaking or tea unit was taken over;
(b) shall be a preferential debt within the meaning of section 530 of the Companies Act, 1956, 1 of 1&36- and all such debts shall rank equajly among themselves and be paid in full out of the assets of the tea undertaking or tea unit, unless such assets are insufficient to meet them, in which case they shall be recoverable from the owner of the tea undertaking or tea onit as arrears ot land revenue notwithstanding that the period of management or control has ended due to expiry of the period for which it was taken over or due to cancellation of the order under section 16H or in pursuance of the order of any court.".
Validation. 4. Notwithstanding any judgment, decree or order of acy court, any action or thijig (including any order passed or proceeding initiated) taken or done or purported to have been taken or done under sub-Section (I) of section 16E of the principal Act at any time after the commencement pf, the Tea (Amendment) Act, 1976, shall be deemed to be as valid and effective as if the amejfjd- 75 Of 1976"- ments made by section 2 had been in force at the time such action of thing was taken or done.
N. SANJIVA REDDY, President.
A. K. SAINTVASAMP^THY Joint Secy, to the Govt, of India.
PRINTED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD JJIW DELHI AND PUBLISHED BY THE CONTROLLER OP PtTBUCATTONB, DKLHi; 1980