Amendment status not verified — confirm the current text below against the official source.
In this Act, unless the context otherwise requires,- (1) " Gov~rnrnent " means the State Government ; (2) " Government compa in which not less than fifty-one share capital is held by the G company which is a subsidiary company. Explanation.--In this clause company as defined in the Co Act 1 of 1956) ; (3) " industry " means taking, manufacture or c any calling, service, empl ~ccupation or avocation 'c industrial " shall be co - * For Staterent of Obj Gmtte Extraordinary, d Wtion 3, page 1 14. mT=.--- - - .-- . (4) " relief undertaking " meails a State industrial ndertaking in respect of which a declaration under section d~rtaking " means an I tidus- (a) which is started or which or the management ny law or agreement acquired or other- se taken over by the Government or by a Government mpany and is run or proposed to be run by, or under the Government or a Government (b) to which any loan, advance, or grant has been ven, or in respect of any loan whereof, a guarantee has verilment or a Government; company. at it 1s necessary D:&ration lic interest, with a view of relief or restarting of a State g as a measure of prevcntir g, or of st uuemployment, declare, by notifi- e industrial undertaking sh 111, with on and from such date auu ~ L J L SUCJI period as may ecified in the notification, be a relief undertaking : cified shall not, in the y, by a like notification, to time, by any period not exceeding mc: so however, that no notification n sllall in ally case reinain in force ars] in the aggregate. atisfied that it is necessary Application , rposer specified in section certain enactments an contracts, agreements, aking all or any etc., to relief hedule shall not apply undertaking. ions, ,whether by way of n, , as' may be specified * bstituted by the mil Nadu Relief dment Act, 1975 (Tamil n substituted by the the .Tamil Nadu Relief Act, 198.1 ;Tarnil - - 6.3 Relid Undertakings (Special Provisions) [I969 - : Z (b) that all or 'aiy of the contracts, as property, agreements, :settlements, awards, or other in jtruments in farce, to which a taking is a party or which may be applica undertaking, immediately . before the d on and from which the relief undertaking. was declare a relief undertaking, , shall be suspended in or that all or any of the rights, pr and liabilities accruing or arising there said date, shail be suspended or be enforceable modifications and in such manner as m such notification. 4 '