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TypeBare Act JurisdictionCentral Government

Finance Act, 2008 Section 101

Loan capital

~1 min read
https://sooperkanoon.com/act/455905

Bare act section · Research

About this section

Finance Act, 2008 Section 101 is part of Finance Act, 2008 - Loan capital. Read the section text below and explore Indian court judgments that cite it.

Research copy - verify against official government publications before filing or court use.

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Section Text

1) Section 79 of FA 1986 (stamp duty and loan capital) is amended as follows.

(2) In subsection (6), for "subsection (7)" substitute "subsections (7) to (7B)".

(3) After subsection (7A) insert- "(7B) Subsection (4) shall not be prevented from applying to a capital market instrument by virtue of subsection (6)(b) by reason only that the capital market investment concerned carries or has carried a right to interest which ceases or reduces if, or to the extent that, the issuer, after meeting or providing for other obligations specified in the capital market arrangement concerned, has insufficient funds available from that capital market arrangement to pay all or part of the interest otherwise due."

(4) After subsection (12) insert- "(13) In this section- "capital market instrument" means an instrument transferring a capital market investment issued as part of a capital market arrangement, and "capital market investment" and "capital market arrangement" have the same meaning as in section 72B of the Insolvency Act 1986 (see paragraphs 1 to 3 of Schedule 2A to that Act)."

(5) The amendments made by this section have effect in relation to any instrument executed on or after the day on which this Act is passed

Frequently asked questions

What does Finance Act, 2008 Section 101 provide?

Section Section 101 of the Finance Act, 2008 (Loan capital) is reproduced on this page as part of the Finance Act, 2008. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2008 Section 101?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2008 Section 101. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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