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    The document discusses key provisions of the Industries (Development and Regulation) Act, 1951 in India. [1] The objective of the act is to provide means for the central government to implement industrial policy and regulate resources according to policy. [2] Important definitions under the act include existing industrial undertaking, which covers undertakings existing or with effective steps taken before the act, and owner, defined as a person who owns or controls an industrial undertaking. [3] Effective steps toward establishing an undertaking include 60% capital paid for a public company, substantial building construction, or firm plant/machinery orders placed.

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    The document discusses key provisions of the Industries (Development and Regulation) Act, 1951 in India. [1] The objective of the act is to provide means for the central government to implement industrial policy and regulate resources according to policy. [2] Important definitions under the act include existing industrial undertaking, which covers undertakings existing or with effective steps taken before the act, and owner, defined as a person who owns or controls an industrial undertaking. [3] Effective steps toward establishing an undertaking include 60% capital paid for a public company, substantial building construction, or firm plant/machinery orders placed.

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    4 views1 page

    35 Passport Scan Color 1

    Uploaded by

    Dinesh Tiwari
    The document discusses key provisions of the Industries (Development and Regulation) Act, 1951 in India. [1] The objective of the act is to provide means for the central government to implement industrial policy and regulate resources according to policy. [2] Important definitions under the act include existing industrial undertaking, which covers undertakings existing or with effective steps taken before the act, and owner, defined as a person who owns or controls an industrial undertaking. [3] Effective steps toward establishing an undertaking include 60% capital paid for a public company, substantial building construction, or firm plant/machinery orders placed.

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    4

    1Reliance's Economic and Labour Laws

    Industn
    rE

    IMPORTANT PROVISIONS - AT A GLANCE


    1 . THE INDUSTRIES (DEVELOPMENT & REGULATION) ACT, 1951 The Industries (Development and Regulation) Act, 1951 is an important piece of legislation affecting the industrial sector of the country. The object of Industries (Development and Regulation) Act [I (D&R) Act] (1) To provide to the Central Government means of implementing the Industrial Policy. (2) To regulate the deployment of material resources of the community according to the norms laid down in the Policy and is thus an instrument for its implementation. To help the Government in directing the manner in which industrial development should take place in the country and also in optimising the development of scarce resources of the community amongst competing claims.

    Factor) Factory manufa (i)


    (ii)

    wi we
    Wi WE

    lndustri Industrie carried o New Art New Artie (i) am iter uric as any suL per mai sub

    (3)

    2. IMPORTANT DEFINITIONS [SECTIQN 3] Existing Industrial Undertaking [Sec. 3(bb)] Existing Industrial Undertaking means : (i) an industrial undertaking which was in existence at the time of commencement of the Act and which belongs to any of the industries listed in First Schedule (as originally enacted at the time of commencement of the Act): (H) an industrial undertaking for the establishment of which effective steps were taken before the commencement of the Act and which belongs to any of the industries listed in First Schedule (as originally- enacted at the time of commencement of the Act); an industrial undertaking which belongs to any of the industries added to the First Schedule by an amendment to the Act and which was in existence at the time of coming into force of such amendment; and an industrial undertaking which belongs to any of the industries added to the First Schedule by an amendment to the Act and for the establishment of which effective steps were taken before the coming into force of such amendment. (ii)

    Owner [S Owner in r which, ha! affairs are director st The term ' persons. E the above Schedule Scheduled Act, 3. MEANIls

    (Hi)

    (iv)

    Here "Effective Steps" mean one or more of the following : (i) (ii) (iii) that 60 % or more of the capital issued by a public company has been paid up: that a substantial part of the factory building has been constructed; that a firm order has been placed for a substantial part of the plant and machinery An Industr undertakinc particulars capacity or

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