Tea Companies (Acquisition and Transfer of Sick Tea Units) Act : Acquisition of rights of tea companies

Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

Act No : 37

Section : Acquisition of rights of tea companies in respect of sick tea units.

3. Acquisition of rights of tea companies in respect of sick tea units. (1) On the appointed day, every sick tea unit and the right, title and interest of every tea company in relation to its sick tea units or, as the case may be, sick tea unit shall, by virtue of this Act, stand transferred to, and vest in, the Central Government. (2) Every sick tea unit which stands vested in the Central Government by virtue of sub-section (1) shall, immediately after it has so vested, stand transferred to, and vested in, the Tea Trading Corporation. 193