Importance - Trade Union Act(1926), Industrial Laws Video Lecture | Industrial Laws - B Com

Ans. The Trade Union Act (1926) introduced several important provisions, including: - Legal recognition of trade unions: The Act provided legal recognition to trade unions and allowed them to register under the law. - Immunity from certain legal actions: Trade unions were granted immunity from certain legal actions, such as liability for tortious acts committed by their members. - Protection of funds and property: The Act ensured the protection of trade union funds and property. - Prohibition of unfair labor practices: The Act prohibited unfair labor practices, such as interference with the right to join or participate in trade unions. - Regulation of trade union finances: The Act imposed regulations on the financial aspects of trade unions, including the requirement for annual financial statements.

Ans. The Trade Union Act (1926) plays a crucial role in shaping industrial relations by providing a legal framework for trade unions. It grants recognition and protection to trade unions, allowing them to effectively represent the interests of workers in collective bargaining and negotiations with employers. The Act also helps in maintaining industrial peace by prohibiting unfair labor practices and providing mechanisms for resolving labor disputes. Overall, the Act promotes a balanced and harmonious relationship between employers and workers, contributing to healthier industrial relations.

Ans. Industrial laws hold great significance for commerce students pursuing a Bachelor of Commerce (B Com) degree. These laws provide students with a comprehensive understanding of the legal framework governing industrial relations, employment contracts, labor rights, and trade union activities. By studying industrial laws, B Com students gain insights into the rights and obligations of employers and employees, as well as the legal mechanisms for dispute resolution in the workplace. This knowledge equips commerce students with essential skills and knowledge for future careers in human resources management, labor relations, or business law.

Ans. The Trade Union Act (1926) offers several provisions to protect the rights of trade unions, including: - Legal recognition: The Act grants legal recognition to trade unions, allowing them to operate and represent workers' interests. - Immunity from certain legal actions: Trade unions are protected from liability for tortious acts committed by their members during trade disputes. - Protection of funds and property: The Act ensures the protection of trade union funds and property from unauthorized use or misappropriation. - Prohibition of unfair labor practices: The Act prohibits unfair labor practices, such as victimization or discrimination against trade union members. - Right to collective bargaining: Trade unions have the right to engage in collective bargaining with employers to negotiate wages, working conditions, and other employment terms.

Ans. The Trade Union Act (1926) imposes certain financial regulations on trade unions, including: - Requirement for annual financial statements: Trade unions are required to prepare and submit annual financial statements, including income and expenditure accounts, balance sheets, and audit reports. - Audit of accounts: The Act mandates the audit of trade union accounts by a qualified auditor to ensure transparency and accountability in financial matters. - Prohibition of political contributions: Trade unions are prohibited from making political contributions or using funds for political purposes. - Protection of trade union funds: The Act ensures the protection of trade union funds from unauthorized use or misappropriation. - Disclosure of financial information: Trade unions are required to disclose financial information to their members, promoting transparency and member participation in financial decision-making.