West Bengal Jute Goods Act, 1950 (No. 5 of 1950)

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PRS or any persons connected with it shall not be in any way responsible for any loss, damage, or distress to any person on account of any action taken or not taken on the basis of this document. The West Bengal Jute Goods Act, 1950 Act 5 of 1950 Keyword(s): Contract Relating to Jute Goods, Jute, Jute Goods, Margin West Bengal Act V of 1950' THE WEST BENGAL JUTE GOODS ACT, 1950. . Arncndcd . . West Bcn. Act IIl of 1953. AII Acr ro provide for tlre prever~tiol~ ofcerrairr dealings irr jrrre goodx. WHEREAS it is expcdicn~ lo provide Ioi the prevenlion of certain dcalings in jurc goods; It is hereby enacled as follows: I. (1) This Acl may be called rhc Wcsl Bcngal Jute Goods Act, 1950. (2) It extends lo the whole of Wcs! Bcngol. (3) Itshall come into'force on suchdatc as Ihc S [ate Governmen t may, by notificarion in thc Oflcial Gazetre, appojn~. 2. In this Act, unless [here is anyching rcpugnan! in he subject or con[cxr, ( I ) "conkact relaling lo jute goods" means a contract rclaring to h e sale or purchasc of jutc goods made on a forward basis (a) providing for rhc payrncntorreceipt. as the case may be, of margin in such manncr and on such dales as may be specified in he conrracl, or (b) by ar with any person no1 being a person who (i) habitually dcals in [he sale or purchase of jule goods involving Ihe actual dclivery of possession hcrcol, or ( i i ) possesses, or has conlrol ovcr, a godown and o h r means and equipmen~s necessary for rhc storage and suppIy ofjutc goods; JExpla)~atio~~.-AcruaI delivery of possession shall be dccrned ro include the uansfcr of any delivery order or railway reccipl or dockrcccipl or mate's receipl of g d o w n warrant. (2) "jute" includes the fibre commonly known as rnesra; 'For Sratcmenl or Objeck and Reasons, see th CaIcu~ra C~crre . Er~ruurdinary, dated the 71st February, 1950, Pan W , page 23 I : Tor proceedinp Ofthc Wcsi BcngaI Lcgislnlivc Asscmbly,seetheProfeedingsoirhemce~ingof lhc Wcsr B c n g a l L c ~ s l ~ l i v e Assembly. held on the 28th Fcbruay, 1950. Shon title. cxtcnl and commence nlcnt. 'This Acr came into lorn on hc 91h May, 1950, virk notficauon No. 1236Conl.. da~ed rheIlhMay, 1950,publishedinIheCnlcurra Gazerre. f i r rnurdir lu~.oT 1950, FUI I.pngc574. 'This Erplanofion was added with retrospccbwe cffcc~ by 5. 7 or ~ h u Wcst Bcngal l u ~ c Goods (Amendment) Act, 1953 (West Bcn. Act I11 or 1953). No~hingin the d d Wesr Ben. Acr UI of 1953 shdl apply 0r dwmd cvcr to havc applied tonny cwc in whichadccree h a once b x n pused bclorc rhc commcnccmcnt orlhcsaid ACI (tide scciion 3 ol\Vest Ben. Act IlI of 1953). [West Ben. Act (3) "jute goods" means (a) hessian clolh made of jule or bags made of such hcssian cloth; and (b) gunny cloth mndc of jute or bags madc of such gunny cloth; and includes such o~bcr goods made of jure as the Stale Govcmrncn~ may specify by nolification in the Oficial Gace~~c; (4) "margin" rncans the difference betwccn the rate specified i n a conlracl rclaung lo h e sale or purchnsc of jure goods made on a fonvard hasis and die rate prevailing on such datc subscquen! to thc datc of [he con tract a< may bc specified in thc conrract. P O ~ V C ~ of 3. ( 1 ) The Stntc Governmenr may, from tirnc to time, if it so thinks S131t Go,,cmmen, fit, by notification in [he Oficial Gnr~rre. prohibil lhe making orconuac~ to prohibit relating to j u ~ e goods and may, by like nolificalion, withdraw such conlmcIs n.larins prohibition: jutc goods. Providcd rhar rhe withdrawal of any such prohibition shall no1 aCTccr Ihc operalion or the provisions of sub-scc~ion (2) in respect of nny conmct relating to jute goods made prior to thc date on which thc prr~hibirion is withdmwn. (2) Whcn [he making of conmcw reladng to jute goods is prol~ibi led by a notilica~ion under sub-scclion (I), (a) no person shall make any such contrac~ur pay or rcceive any margin cxccpr, in the case of any such conlracl made prior Lo rhc dale of the no~iljcation, to thc cxrcn~ to which thc paymcnt or rcceip~, as [he casc may bc, or margin is allowable on [he basis of the last closing rale in a notificd market; (b) noownerorwcupicr of any prernisesshall knowingly permit such prcmiscs !o bc used for the making of any sucl~ contract or for thcpayment orreceipt of margin i n conuavzntion oTthc provisions of clause (a); and (c) notwilhstanding nnylhing conlaincd in any orher law lor the lime bcing in force, (i) every such con~racl made, and every claim in rcspec~ of margin, i n conuavcnuon of h e provisions ofclause (a) shall be void and unenforccablc, and (ij) evciy such conrracr made prior lo thedate of publication of d ~ e noufication shall be varicd and setrled on thc basis of thc 1x1 closine rate in a norilicd market. The Wesr Bctlgal J~rre Goods Act, 1950. E.rplanorion .-In this sub-section, (a) "last closing rate" means [he rate Iixcd by the directors of a notified markcl lo be the closing ratc of such marker immediarcIy preceding thc darc of publication of the noti ficarion under sub-secrion ( 1 ) prohibiting thc making of contracts rcloung to jute goods; and (b) "notified markel" means a jutc goods markcr rccognised by the Srarc Government by 'no~fication in the OficialGazefre. 4. Whocver in con~ravcnlion of the provisions of scc~ion 3, (a) m k e s a contracr rclaling to jute goods, or pays or reccives, ns the case may bc, margin, or (h) being rhc owncr or occupier of any prcrnises, knowingly pcrnlirs such prcmises lo bc used [or rhc milung oFa conlracl relaring to jurc goods or for [he paymcnl or rcceipt oFrnargin, shall, on convicljon, be punishable wirh irnprisonmcnt which may cxtend to one year, or with fine which may extend to one thousand rupees, or with bo1h. ACI V of 5 Nolwithstanding anything conlaincd in the Codc of Criminal Special I ~ 9 s . Procedure, 1898, an offence punishable under [his ACI shall becognisnblc proccdu~. and non-bailable and shall no( be miable by any Magisrate orher than a Presidency Magistrate or Magishate of [he Firsr Class. 'For notificaion rclving ro ihc recognirion urjute goods markets for rhr purposcs or pmgmph (b] or the Erplu,ratio~r to sub-secrion (7,) or section 3 or thc Act. see natificalion No. 1?38Com. dalcd 8.5.50, published in rhc Cululttftr Gu:etrc. Erfroordrrtun of 1950. Pan I, page 574.