Ministry of Consumer Affairs, Food and Public Distribution
The Levy Sugar Price Equalisation Fund Act, 1976, is a legislative measure enacted to establish a fund aimed at ensuring that the price of levy sugar is uniform throughout India. This Act addresses the need for price stabilization and aims to protect consumers by preventing price variations in different regions. The Act outlines the mechanisms for collecting excess realisations from sugar producers, crediting them to the Levy Sugar Price Equalisation Fund, and utilizing the fund for its intended purpose. It is a key instrument in regulating the sugar industry and ensuring fair prices for consumers.
Act Background and Ministry:
The Levy Sugar Price Equalisation Fund Act, 1976, was enacted by the Parliament of India. It was designed to establish a fund to ensure uniform levy sugar prices across India. The Act falls under the purview of the Ministry of Consumer Affairs, Food and Public Distribution, Government of India.
Enactment Date, Number of Chapters, Number of Sections:
The Act was enacted on February 16, 1976. It is structured into 16 sections and has no formal chapters.
Act Governed By:
The Act is primarily governed by the Central Government, which has the power to administer the Levy Sugar Price Equalisation Fund, determine questions related to excess realisations, and make rules for carrying out the purposes of the Act. The implementation of the Act also involves sugar producers, buyers, and other entities involved in the sugar trade.
On Whom it is Applicable:
The Act is applicable to all sugar producers, buyers, and other entities involved in the production, sale, and distribution of levy sugar in India.
Penalties/Punishments:
The Act specifies penalties for non-compliance. These include:
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Imprisonment and Fines: For contravening any order made under the Act, individuals may be punished with imprisonment or fine, or both.
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Failure to Credit Funds: Producers who fail to credit excess realisations to the Fund are liable to pay interest on the amount due.
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False Information: Furnishing false information or making false statements is punishable with imprisonment or fine, or both.
Important Pointers:
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Levy Sugar Price Equalisation Fund: The Act establishes a fund to ensure uniform levy sugar prices across India.
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Excess Realisations: The Act defines “excess realisation” as the price realized by a producer on the sale of levy sugar that exceeds the controlled or fair price.
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Crediting to the Fund: The Act mandates that producers credit excess realisations to the Fund, along with interest.
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Refunds to Buyers: The Act provides for refunds from the Fund to buyers from whom excess realisations were made.
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Fund Administration: The Central Government administers the Fund and can utilize it to ensure uniform prices and protect consumer interests.
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Power to Make Rules: The Act empowers the Central Government to make rules to carry out the purposes of the Act.
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No Payment to Producers: The Act prohibits the payment of excess realisations to sugar producers.
Act Copy: