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INDUSTRIAL DISPUTES (BANKING COMPANIES) DECISION (REPEAL) ACT, 2001
19 of 2001
August 3, 2001
An Act to repeal the Industrial Disputes (Banking Companies) Decision Act, 1955 Be it enacted by Parliament in the Fifty-second Year of the Republic of India as follows:—
Prefatory Note—Statement of Objects and Reasons.—The Industrial Disputes (Banking Companies) Decision Act, 1955 was enacted to provide for the modification of the decision of the Labour Appellate Tribunal, dated the 28th April, 1954, in accordance with the recommendations of the Bank Award Commission and for giving effect to Ae award accordingly. Under Section 3 of the said Act, the recommendations in Chapter XI of the Report of the Bank Award Commission in relating to the banking companies incorporated in the former State of Travancore-Cochin (as it existed immediately before the 1st November, 1956) specified in the chapter were modified and were deemed to have been modified in the '' manner provided in that section in this regard. 2. In terms of Section 4 of the said Act, the award of the All India Industrial Tribunal (Bank Disputes), Bombay, as modified by the decision of the Appellate Tribunal in the manner referred to in said Section 3, had to remain in force until the 31st day of March, 1959 and, as such, the Act has now become redundant. The P.C. Jain Commission on Review of Administrative Laws, set up by the Government of India, has also recommended the repeal of the said Act. 3. The Bill seeks to repeal the aforesaid Act.
SECTION 01: SHORT TITLE.
—This Act may be called the Industrial Disputes (Banking Companies) Decision (Repeal) Act, 2001.-1
SECTION 02: REPEAL OF ACT 41 OF 1955.
—The Industrial Disputes (Banking Companies) Decision Act, 1955-is hereby repealed.
Footnotes:
1. Received the assent of the President on August 3,2001 and published in the Gazette of India, Extra., Part II, Section 1, dated 4th August, 2001, p.l. No. 25
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