Section 22 in The Technology Development Board Act, 1995

Title: Power of Board to make regulations

Description: (1) The Board may, with the previous approval of the Central Government, by notification in the Official Gazette, make regulations consistent with this Act and the rules generally to carry out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:-- (a) the terms and conditions of service of the Secretary and other officers and employees of the Board under sub-section (2) of section 4; (b) the conditions subject to which equity capital may be provided by the Board under clause (a) of section 6; (c) the form in which and the time at which the returns may be furnished to the Board under sub-section (1) of section 15.

Title: Rules and regulations to be laid before Parliament

Description: Every rule and every regulation made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or regulation or both Houses agree that the rule or regulation should not be made, the rule or regulation shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule or regulation.

Title: Short title and commencement

Description: (1) This Act may be called the Textile Undertakings (Nationalisation) Act, 1995. (2) The provisions of sections 31 and 32 shall come into force at once and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of April, 1994.

Title: Definitions

Description: (1) In this Act, unless the context otherwise requires,-- (a) "appointed day" means the 1st day of April, 1994; (b) "bank" means— (i) the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); (ii) a subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959); (iii) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970); (iv) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980); (v) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934); (c) "Commissioner" means a Commissioner of Payments appointed under section 17; (d) "Custodian"means a Custodian appointed under section 4 of the Textile Undertakings (Taking Over of Management) Act, 1983 (40 of 1983) or under section 4 of the Laxmirattan and Atherton West Cotton Mills (Taking Over of Management) Act, 1976 (98 of 1976), as the case may be; (e) "National Textile Corporation" means the National Textile Corporation Limited formed and registered under the Companies Act, 1956 (1 of 1956); (f) "notification" means a notification published in the Official Gazette; (g) "owner", when used in relation to a textile undertaking, means any person or firm who or which is, immediately before the appointed day, the immediate proprietor or lessee or occupier of the textile undertaking or any part thereof, and in the case of a textile company which is being wound up or the business whereof is being carried on by a liquidator or receiver, includes such liquidator or receiver, and also includes any agent or manager of such owner but does not include any person or body of persons authorised under the Textile Undertakings (Taking Over of Management) Act, 1983 (40 of 1983) or under the Laxmirattan and Atherton West Cotton Mills (Taking Over of Management) Act, 1976 (98 of 1976) to take over the management of the whole or any part of the textile undertaking; (h) "prescribed" means prescribed by rules made under this Act; (i) "specified date" means such date as the Central Government may, for the purpose of any provision of this Act, by notification, specify; and different dates may be specified for different provisions of this Act; (j) "subsidiary textile corporation" means the National Textile Corporation (South Maharashtra) Limited, the National Textile Corporation (Uttar Pradesh) Limited or any other textile corporation formed by the National Textile Corporation as its subsidiary; (k) "textile" includes yarn or fabrics made either wholly or partly of cotton, wool, jute, synthetic and artificial (man-made) fibres; (l) "textile company" means a company (being a company as defined in the Companies Act, 1956) (1 of 1956) specified in column (3) of the First Schedule as owning the textile undertaking specified in the corresponding entry in column (2) of that Schedule; (m) "textile undertaking" or 'the textile undertaking" means an undertaking specified in column (2) of the First Schedule, the management of which was before the appointed day, taken over by the Central Government under the Textile Undertakings (Taking Over of Management) Act, 1983 (40 of 1983), or as the case may be, under the Laxmirattan and Atherton West Cotton Mills (Taking Over of Management) Act, 1976 (98 of 1976). (2) Words and expressions used herein and not defined but defined in the Companies Act, 1956 (1 of 1956), shall have the meanings respectively assigned to them in that Act.

Title: Acquisition of rights of owners and vesting of the textile undertakings

Description: (1) On the appointed day, the right, title and interest of the owner in relation to every textile undertaking shall stand transferred to, and shall vest absolutely in, the Central Government. (2) Every textile undertaking 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 National Textile Corporation. 1[(3) Notwithstanding the transfer and vesting of any textile undertaking to the National Textile Corporation by virtue of sub-section (2), the lease-hold rights of the textile undertakings shall continue to remain vested in the Central Government on payment of lease-hold rents and shall be discharged, for and on behalf of that Government, by the National Textile Corporation as and when payment of such lease-hold rents or any amount becomes due and payable. (4) Subject to sub-section (3), no court shall have jurisdiction to order divestment from the National Textile Corporation of the property vested in it by the Central Government.] 1 Ins. by Act 36 of 2014, s. 5 (w.e.f. 24-10-2014).