Amendment status not verified — confirm the current text below against the official source.
Contracts to cease to have effect unless ratified by State Textile Corporation.- (1) Every contract entered into by the owner or occupier of any sick textile undertaking for any service, sale or supply and in force immediately before the appointed day shall, on and from the expiry of one hundred and eighty days from the date of commencement of this Act, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the State Textile Corporation, and in ratifying such contract the State Textile Corporation may, with the previous approval of the State Government, make such alterations or modifications therein as it may think fit: