Tea (Purchase and Importation) Act, 1958
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Transitory provisions in relation to disposal of tea held by Tea Importers, Limited. |
11.—Where, before the 30th day of September, 1959, a registered tea trader (in this section referred to as the purchaser) requests, under section 8 of this Act, the Company to act as agent for the importation of a particular consignment of tea (in this section referred to as the purchaser's consignment), the Company shall forthwith inform Tea Importers, Limited (in this section referred to as the existing Company) of the request, and thereupon, notwithstanding anything in the said section 8, the following provisions shall have effect— | |
(a) the Company shall not comply with the request of the purchaser unless and until authorised by the existing Company to do so, | ||
(b) the existing Company, for the purpose of disposing of stocks of tea then held by it or in its control, may, before the expiration of the period of fourteen days commencing on the date on which it was so informed of the request of the purchaser, serve by registered post on the purchaser a notice requiring the purchaser to purchase from it within a specified time and at a specified price a specified quantity of such stocks, being a quantity which is, in the opinion of the existing Company, equitable having regard to the quantity of the purchaser's consignment and the quantity of such stocks, | ||
(c) if the said notice is served on the purchaser and the purchaser complies therewith, the existing Company shall forthwith authorise the Company to comply with the request of the purchaser, | ||
(d) if the existing Company decide not to proceed under paragraph (b) of this section, the existing Company shall, as soon as may be after so deciding, authorise the Company to comply with the request of the purchaser. |