The Industries (Development and Regulation) Act, 1951
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The Industries (Development and Regulation) Act, 1951
THE INDUSTRIES (DEVELOPMENT AND REGULATION) ACT, 1951 1*
ACT NO. 65 OF 1951[31st October, 1951.]An Act to provide for the development and regulation of certain industries.BE it enacted by Parliament as follows:--CHAPPRELIMINARYCHAPTER IPRELIMINARY1.Short title, extent and commencement.1. Short title, extent and commencement. (1) This Act may be called the Industries (Development and Regulation) Act, 1951.(2) It extends to the whole of India 2***.(3) It shall come into force on such date 3* as the Central Government may, by notification in the Official Gazette, appoint.2.Declaration as to expediency of control by the Union.2. Declaration as to expediency of control by the Union. It is hereby declared that it is expedient in the public interest that the Union should take under its control the industries specified in the First Schedule.3.Definitions.3. Definitions. In this Act, unless the context otherwise requires,--(a) "Advisory Council" means the Central Advisory Council established under section 5;4*[(aa) "ancillary industrial undertaking" means an industrial undertaking which, in accordance with the proviso to sub-section (1) of section 11B and the requirements specified under that sub-section, is entitled to be regarded as an ancillary industrial undertaking for the purposes of this Act;]5*[4[(ab)] "current assets" means bank balances and cash and includes such other assets or reserves as are expected to be realised in cash or sold or consumed within a period of not more than twelve months in the ordinary course of business, such as,[See footnote 1 for this section]15th February, 1962, in respect of the State of Jammu and Kashmir; vide Notification No. S.O. 458'IDRA'1'1'62, dated 7th February, 1962, see Gazette of India, Extraordinary, Pt. II. Sec.3(ii), p. 385.4. Re-lettered and ins. by Act 4 of 1984, s. 2 (w.e.f. 12-1-1984)5. Ins. by Act 72 of 1971, s. 2 (w.e.f. 1-11-1971).94 stock-in-trade, amounts due from sundry debtors for sale of goods and for services rendered, advance tax payments and bills receivable, but does not include sums credited to a provident fund, a pension fund, a gratuity fund or any other fund for the welfare of the employees, maintained by a company owning an industrial undertaking;1*[(ac)] "current liabilities" means liabilities which must be met on demand or within a period of twelve months from the date they are incurred; and includes any current liability which is suspended under section 18FB;](b) "Development Council" means a Development Council established under section 6;2*[(bb) "existing industrial undertaking" means--(a) in the case of an industrial undertaking pertaining to any of the industries specified in the First Schedule as originally enacted, an industrial undertaking which was in existence on the commencement of this Act or for the establishment of which effective steps had been taken before such commencement, and (b) in the case of an industrial undertaking pertaining to any of the industries added to the First Schedule by an amendment thereof, an industrial undertaking which is in existence on the coming into force of such amendment or for the establishment of which effective steps had been taken before the coming into force of such amendment;](c) "factory" means any premises, including the precincts thereof, in any part of which a manufacturing process is being carried on or is ordinarily so carried on--(i) with the aid of power, provided that fifty or more workers are working or were working thereon on any day of the preceding twelve months;or (ii) without the aid of power, provided that one hundred or more workers are working or were working thereon on any day of the preceding twelve month and provided further that in no part of such premises any manufacturing process is being carried on with the aid of power;3*[(cc) "High Court" means the High Court having jurisdiction in relation to the place at which the registered office of a company is situate;][See footnote 2 for this section](d) "industrial undertaking" means any undertaking pertaining to a scheduled industry carried on in one or more factories by any person or authority including Government;1*[(dd) "new article", in relation to an industrial undertaking which is registered or in respect of which a licence or permission has been issued under this Act, means--(a) any article which falls under an item in the First Schedule other than the item under which articles ordinarily manufactured or produced in the industrial undertaking at the date of registration or issue of the licence or permission, as the case may be, fall;(b) any article which bears a mark as defined in the Trade Marks Act, 1940 2* (5 of 1940), or which is the subject of a patent, if at the date of registration or issue of the licence or permission, as the case may be, the industrial undertaking was not manufacturing or producing such a...See the full content of this document
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