Amendment status not verified — confirm the current text below against the official source.
l)tmolut1on of the Board.- lf, 111 the opinion of the Gove111- rr.ent, the Board persistently makes default m the performance of the duties imposed on it, or exceeds or abuseq its powers, the Govern- ment may, by nottficat1on rn the Gazette, dissolve the Boa1 d and there- upon the Chauman and the other members of the Board shall be deemed to have vacated their offices and all the functions of the Board shall thereafter be exercised by such person or persons as may be appointed m that behalf by the Government until a new Board 1s constituted by the Government : Provided that no order of d1ssolut1on shall be passed unless the lloard is given an op pot tunity to show cause against the action prop. sed to be taken. I 0. l ndustnes whzclt may be aided.-( I) The 111dustnes to wluch aid may be g1ve11 under this Act :,hall be such as havean impo1 tant beating on the cco11omic development of the country and :,hall be- (z) a new or na'icent industry; (u) an industry to be newly establtshed m an area where such mdustnes are undeveloped or ate hkely to be successful ; (m) an industry which 1s hkcly to become more profitable by an investment ot more capital ; (iu) small scale industnes ; (v) cottage mdustnes ; (ui) old or established industt ies ; or (vtt) such other mdustnal concerns, as ;n the opi111on of the Government, deserve State aid to be given m conformity with the provisions of this Act : Provided that no State aid shall be given to any joint stock l..ompany unless- (i) the company is registered u1 India with a rupee c·ap1la1 , and (u) the company agrees to maintain the p1escriued propo1 tM1 of Indians a:s members of its Board of Duector!> : Provided further that every recipient of State aid shall mclJ..c such provision for the training of apprentices as may be pre~cribed. (2) The decision of the Government after consulting the Board as to whether the conditions of this section .ire fulfil/eel shall be fiua:"'- and ~h<lll 11ot IJe called in qucst1011 111 ,my 1..ou1 t of l..1w. . l ~ I I I ' I i ~ 205 CHAPTI:R III General provisions regarding the giving of State Aid