| Act of Parliament | |
 | |
| Long title | An Act to enable schemes made with a view to eliminating excess capacity in the cotton industry to provide for paying compensation for any such elimination and for raising the sums required for that and other purposes by levies on the industry; to enable the Board of Trade to make contributions towards any such compensation and to make grants for the re-equipment of the industry; and for purposes connected therewith. |
|---|---|
| Citation | 7 & 8 Eliz. 2. c. 48 |
| Dates | |
| Royal assent | 9 July 1959 |
The Cotton Industry Act 1959 (7 & 8 Eliz. 2. c. 48) aimed to reorganise the Lancashire cotton industry to prevent its further decline. It provided for grants to replace equipment. The reorganisation process was voluntary in large part to be managed by the Cotton Board. [1]
It was the last major legislative intervention, following other attempts to help rationalise and modernise the industry including the Cotton Spinning Industry Act 1936 and the Cotton Industry (Reorganisation) Act 1939.
Implementation of the act ran into considerable trouble as demand for cotton collapsed.
