Keyword(s):
Club, Commissioner, Custodian, Government Company, Public Purpose
The following Act of tlie TadNadu Legislature received the
assent of the Presidcr~ton the 9th April 1986 and is be~eby — , – -I- —
publjslied for general infomtion:-
. .
ACT No.26 OF 1986.
An ..lc; to provide for the acquisition,fur a public pmrpose, and transfer
of ihe r mderrrdcing of tl~eMadras Race CIub arld jbr matters connected
tlzelr~vith or .i~ciderrtaifhcr.cto.
WHEREAStl; Madras Race Club, which is a company within the meaning
of the Cotnpanies ~ct,1956 (0ntl.aI Act 1 of 1956), is engepd in th~
husin~ssof runin,oof horse races at Madras and at IJthagarnandalarn including the busir~essof inter-venue betting ; AND WI~RRBASit has bten brollgllt to the notice of tho Government that the Co~n~nitteeof lnallagelueilt of the Madras Race Club is ridden with factjosalld that thc affairs of the said ClIub ar E not conducted propei Iy
and in particular in the interests of the race goius public ,;
AND wWEICEAS in~tace~ ot’ irlegulaiities and malpractices in the conduct of thc horsc races have been brought to thc notice of the-Governmenr ; I AND WHEREAS it ha:; been brou$~tto the notice of thc Government that tile b.~ok-milkers keep huee amounts of bet from records causing substantiai loss of rt ven ue to the Government ; 1 m — [A Gror~p.)’1V-2 Ex.(184+1 – [ 111 1- AM^;’ \;Y&EAS th~Governruznt are satisfied that thr: Madm Race Club is..beiagmismanaged and that the inter-ests of th~:race-going public havc been affscted considerg bly ; AND WHERBASthe ir~egularitiesand nlalpraciices in tile conrluct of the races and in the conduct of the affairs of the Madras Race Club have ‘ I . resglted in tlw COJICZ~YSL~~U~ of weaith and mans of production in
I a few hands, and to the common detriment ;
,.
t &m WEXERRA~,with reference to clauscs (b)and (c) of Article 39 01 the
Constitution, it is expedient to provide that the ownixship and co~ltrcll
of the material, rr-sourccs of the Madras Racc Club 1s so distnbutcd
as best to subsc~vethe conilnoll good and tl~ittthe operation of the
economic system of t:he Madras Race Club does 1101: result in the con.
centration of wealth and means of production to the common detriment ;
ANDWKBREAS it is necessary that the interests 01 tlzc: rzc-going prrbtic
should be bcttcx served ;
AND WHEREASa policy decision hss: been taken to acquire fnr il public
. purpose the undertaking of the Madras Race Club to enable the State
Government or a Corporation-ara Company wholly owned by the State,
to properly c~i~duct the hmse races arid to carry gat the other objje:$
of the Club, so as to subserve-theiutzrcst of thc gcne~alpublic aud in
particular, the race gojog public ;
CHAPTER’ I
PRELIMJNARY
- BB.it enacted by the Legislatur-eo! the SYatc of Tamil Nadu in the Tkrty-
sixth-Year.of the Repubbc of India -2s fbllows :-
m.
- Short litle and comrncrl-:enaerzi.–( I)
,Madras Race Club (Acquisition lulu iliiii
1
i 1986.
I
1.
Q’
1
force ; t
‘.
I,
(2) It shall come into foxcc at once. - Declaration.-It is heleby dsclared that ths Act is for giving
effectto the policy oi thc Stab towards secuii~lgtho pindplcs laid down
in clauses (b) and (L) of Article 39 of the Constitutjgn, - ~efinitions.-In this Act, unlass ihe context othcrwisc requires,-
(a) ‘kppointed day ‘> means the date on which this Act. come6.
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