Tea Act : Preparation of an inventory of the assets and liabilities and list ofmembers and creditors

Tea Act,1953

Act No : 29

Section : Preparation of an inventory of the assets and liabilities and list ofmembers and creditors of managed tea undertaking or tea unit.

16L. Preparation of an inventory of the assets and liabilities and list of members and creditors of managed tea undertaking or tea unit. For the purposes of this Act, the authorised person shall, as soon as may be after taking over the management of a tea undertaking or tea unit, prepare a complete inventory of the properties, belongings, liabilities and obligations of such tea undertaking or tea unit, as the case may be, and a list of members and creditors of such tea undertaking or tea unit, in accordance with the provisions of section 18FG of the Industries (Development and Regulation) Act, 1951 (65 of 1951), and the said section shall apply to a tea undertaking or tea unit accordingly.