Bare Act Search Results

Red Cross Society (Allocation of Property) Act,1936 Complete Act

Title: Red Cross Society (Allocation of Property) Act,1936

State: Central

Year: 1936

Preamble1 - RED CROSS SOCIETY (ALLOCATION OF PROPERTY) ACT,1936 Section1 - Short title and extent Section2 - Apportionment of corpus of property of Indian Red Cross Society Section3 - Transfer of apportioned property to trustees and dissolution of Burma Branch Committee of Indian Red Cross Society Section4 - Cesser of provisions of Indian Red Cross Society Act, 1920

Payment of Bonus Act, 1965 Section 15

Title: Set on and Set off of Allocable Surplus

State: Central

Year: 1965

.....fourth accounting year in the manner illustrated in the Fourth Schedule. (3) The principle of set on and set off as illustrated in the Fourth Schedule shall apply to all other cases not covered by sub-section (1) or sub-section (2) for the purpose of payment of bonus under this Act. (4) Where in any accounting year any amount has been carried forward and set on or set off under this section, then, in calculating bonus for the succeeding accounting year, the amount of set on or set off carried forward from the earliest accounting year shall first be taken into account.] _________________________ 1. Substituted by Act 66 of 1980, Section 9, for section 15 (w.r.e.f. 21-8-1980).

Payment of Bonus Act, 1965 Complete Act

State: Central

Year: 1965

.....or class of establishments [including an establishment being a factory within the meaning of sub-clause (ii) of clause (m) of (S.2 of the Factories Act, 1948), employing such number of persons less than twenty as may be specified in the notification ; so, however, that the number of persons so specified shall in no case be less than ten.] (4) Save as otherwise provided in this Act, the provisions of this Act shall, in relation to a factory or other establishment to which this Act applies, have effect in respect of the accounting year commencing on any day in the year 1964 and in respect of every subsequent accounting year : 3 (4) 4. Inserted by the Central Labour Laws (Extension to Jamrnu and Kashmir) Act, 1970. [Provided that in relation to the State of Jammu and Kashmir, the reference to the accounting year commencing on any day in the year 1964 and every subsequent accounting year shall be construed as reference to the accounting year commencing on any day in the year 1968 and every subsequent account- ing year:] [Provided further that when the provisions of this Act have been made applicable to any establishment or class of establishments by the issue of a.....

Payment of Bonus Act, 1965 Section 2

Title: Definitions

State: Central

Year: 1965

.....a deceased owner or occupier and where a person has been named as a manager of the factory under clause (0 of sub-section (1) of section 7 of the Factories Act, 1948 (63 of 1948), the person so named; and (ii) in relation to any other establishment, the person who, or the authority which, has the ultimate control over the affairs of the establishment and where the said affairs are entrusted to a manager, managing director or managing agent, such manager, managing director or managing agent; (15) "establishment in private sector" means any establishment other than an establishment in public sector; (16) "establishment in public sector" means an establishment owned, controlled or managed by- (a) a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956); (b) a corporation in which not less than forty per cent of its capital is held (whether singly or taken together) by- (i) the Government; or (ii) the Reserve Bank of India; or (iii) a corporation owned by the Government or the Reserve Bank of India; (17) "factory" shall have the same meaning as in clause (m) of section 2 of the Factories Act, 1948 (63 of 1948); (18) "gross profits".....

Payment of Bonus Act, 1965 Section 11

Title: Payment of Maximum Bonus

State: Central

Year: 1965

1 [11. Payment of maximum bonus (1) Where in respect of any accounting year referred to in section 10, the allocable surplus exceeds the amount of minimum bonus payable to the employees under that section, the employer shall, in lieu of such minimum bonus, be bound to pay to every employee in respect of that accounting year bonus which shall be an amount in proportion to the salary or wage earned by the employee during the accounting year subject to a maximum of twenty per cent, of such salary or wage. (2) In computing the allocable surplus under this section, the amount set on or the amount set off under the provisions of section 15 shall be taken into account in accordance with the provisions of that section.] _____________________ 1. Section 11 omitted by Act 23 of 1976, Section 8 (w.r.e.f. 25-9-1975) and inserted by Act 66 of 1980, Section 6 (w.r.e.f. 21-8-1980).

Payment of Bonus Act, 1965 Section 16

Title: Special Provisions with Respect to Certain Establishments

State: Central

Year: 1965

.....( 1B ) and ( 1 C). ( 1 A) In the first five accounting year following the accounting year in which the employer sells the goods produced or manufactured by hi m or renders services, as the case may be, from such establishment, bonus shall be payable only in respect of the accounting year in which the employer derives profit from such establishment and such bonus shall be calculated in accordance with the provisions of this Act in relation to that year, but without applying the provisions of section 15 . ( 1B ) For the sixth and seventh accounting years following the accounting year in which the employer sells the goods produced or manufactured by hi m or renders services, as the case may be, from such establishment, the provisions of section 15 shall apply subject other following modifications, namely:- (i) for the sixth accounting year- set on or set off, as the case may be, shall be made in me manner illustrated in the2[Fourth Schedule] taking into account the excess or deficiency, if any, as the case may be, of the allocable surplus set on or set off in respect of the fifth and sixth accounting years; (ii) for the seventh accounting year- set on or set off, as.....

Life Insurance Corporation (Amendment) Act, 2011, (Central) Section 5

Title: Substitution of New Section for Section 28

State: Central

Year: 2011

For section 28 of the principal Act, the following section shall be substituted, namely:-- "28. Surplus from life insurance business, how to be utilised. (1) If as a result of any investigation undertaken by the Corporation under section 26, any surplus emerges,-- (a) ninety per cent. or more such surplus, as the Central Government may approve, shall be allocated to or reserved for the life insurance policyholders of the Corporation; (b) such percentage of remaining surplus as the Central Government may approve shall be credited to separate account maintained by the Corporation; and (c) the remainder shall be paid as dividend. (2) The funds available in the account maintained by the Corporation under clause (b) of sub-section (1) shall be utilised for such purpose and in such manner as the Central Government may determine.".

Payment of Bonus Act, 1965 Complete Act

Title: Payment of Bonus Act, 1965

State: Central

Year: 1965

.....- Special provisions with respect to certain establishments Section17 - Adjustment of customary or interim bonus against bonus payable under the Act Section18 - Deduction of certain amounts from bonus payable under the Act Section19 - Time-limit for payment of bonus Section20 - Application of Act to establishments in public sector in certain cases Section21 - Recovery of bonus due from an employer Section22 - Reference of disputes under the Act Section23 - Presumption about accuracy of balance-sheet and profit and loss account of corporations and companies Section24 - Audited accounts of banking companies not to be questioned Section25 - Audit of accounts of employers, not being corporations or companies Section26 - Maintenance of registers, records, etc Section27 - Inspectors Section28 - Penalty Section29 - Offences by companies Section30 - Cognizance of offences Section31 - Protection of action taken under the Act Section31A - Special provision with respect to payment of bonus linked with production or productivity Section32 - Act not to apply to certain classes of employees Section33 - Act to apply to certain pending disputes regarding payment of bonus.....

Karnataka Souharda Sahakari Act, 1997 Section 67

Title: Co--operative Principles

State: Karnataka

Year: 1997

.....the Co--operative possibly by setting up reserves part of which atleast would be indivisible, benefitting members in proportion to their transactions with the Co--operative, and supporting other activities approved by the membership. (4) Co--operatives are autonomous, self--help organisations controlled by their members. If they enter into agreements with other organisations including Government or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their Co--operative autonomy. (5) Co--operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their Co--operatives. They inform the general public particularly young people and leaders about the nature and benefits of co--operation. (6) Co--operatives serve their members most effectively and strengthen the Co--operative movement by working together through local, regional, national and international structures. (7) While focusing on member needs, Co--operatives work for the sustainable development of their communities through policies accepted by.....

Payment of Bonus Act, 1965 Section 10

Title: Payment of Minimum Bonus

State: Central

Year: 1965

1 [ 10 . Payment of minimum bonus Subject to the other provisions of this Act, every employer shall be bound to pay to every employee in respect of the accounting year commencing on any day in the year 1979 and in respect of every subsequent accounting year, a minimum bonus which shall be 8 . 33 per cent of the salary or wage earned by the employee during the accounting year or one hundred rupees, whichever is hi gher, whether or not the employer has any allocable surplus in the accounting year: Provided that where an employee has not completed fifteen years of age at the beginning of the accounting year, the provisions of this section shall have effect in relation to such employee as if for the words "one hundred rupees", the words "sixty rupees" were substituted.] ___________________________ 1. Section 10 Substituted by Act 23 of 1976, Section 7 (w.r.e.f. 25-9-1975) and again Substituted by Act 66 of 1980, Section 6 (w.r.e.f 21-8-1980).