Bare Act Search Results

The Madras Race Club (Acquisition and Transfer of Undertaking) Act 1986 Complete Act

State: Tamil Nadu

Year: 1986

THE MADRAS RACE CLUB (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT 1986 THE MADRAS RACE CLUB (ACQUISITION AND TRANSFER OF UNDERTAKING) ACT 1986 ACT NO.26 OF 1986 An Act to provide for the acquisition, for a public purpose, and transfer of the undertaking of the Madras Race Club and for matters connected therewith or incidental thereto. WHEREAS the Madras Race Club, which is a company within the meaning of the Companies Act, 1956 (Central Act 1 of 1956), is engaged in the business of running of horse races at Madras and at Uthagamandalam including the business of inter-venue betting; AND WHEREAS it has been brought to the notice of the Government that the Committee of management of the Madras Race Club is ridden with factions and that the affairs of the said Club are not conducted properly and in particular in the interests of the race going public; AND WHEREAS instances of irregularities and malpractices in the conduct of the horse races have been brought to the notice of the Government: AND WHEREAS it has been brought to the notice of the Government that the book-makers keep huge amounts of bet from records causing substantial loss of revenue to the.....