State : Central
Year : 1965
PAYMENT OF BONUS ACT, 1965 PAYMENT OF BONUS ACT, 1965 21 OF 1965 1[An Act to provide for the payment of bonus to persons employed in certain establishments on the basis of profits or on the basis of production or produc- tivity and for matters connected therewith] BE it enacted by Parliament in the Sixteenth Year of the Republic of India as follows:- SCHEDULE 1 : SCHEDULE 2 : SCHEDULE 3 : SCHEDULE 4 : SECTION 1 : Short title, extent and application (1) This Act may be called the Payment of Bonus Act, 1965. (2) It extends to the whole of India 3 (2) 2. The words "except the State of Jamrnu and Kashmir" omitted by the Central Labour Laws (Extension to Jamrnu and Kashmir) Act, 1970. [***]. (3) Save as otherwise provided in this Act, it shall apply to- (a) every factory ;..... List Judgments citing this sectionTitle : Special Provision with Respect to Payment of Bonus Linked with Production or Productivity
State : Central
Year : 1965
1 [31A. Special provision with respect to payment of bonus linked with production or productivity Notwithstanding anything contained in this Act,-- (i) where an agreement or a settlement has been entered into by the employees with their employer before the commencement of the Payment of Bonus (Amendment) Act, 1976 (23 of 1976), or (ii) where the employees enter into any agreement or settlement with their employer after such commencement, for payment of an annual bonus linked with production or productivity in lieu of bonus based on profits payable under this Act, then, such employees shall be entitled to receive bonus due to them under such agreement or settlement, as the case may be: 2 [Provided that any such agreement or settlement whereby the employees relinquish their right..... View Complete Act List Judgments citing this sectionTitle : Insertion of New Part Ixa
State : Central
Year : 2002
In the Companies Act, 1956, after Part IX, the following Part shall be inserted, namely:-- 'PART IXA CHAPTER I PRODUCER COMPANIES 581 A. Definitions .-- In this Part, unless the context otherwise requires,-- (a) "active Member" means a member who fulfils the quantum and period of patronage of the Producer Company as may be required by the articles; (b) "Chief Executive" means an individual appointed as such under subsection (1) of section 581W; (c) "limited return" means the maximum dividend as may be specified by the articles; (d) "Member" means a person or Producer institution (whether incorporated or not) admitted as a Member of a Producer Company and who retains the qualifications necessary for continuance as such; (e) "inter-State co-operative society" means a..... View Complete Act List Judgments citing this sectionTitle : Schedule 13
State : Central
Year : 1956
1 [SCHEDULEXIII [Seesections 198,269,310and 311] CONDITIONSTO BEFULFILLED FOR THE APPOINTMENT OF A MANAGING OR WHOLE-TIME DIRECTOR OR A MANAGERWITHOUT THE APPROVAL OF THE CENTRAL GOVERNMENT 2 [PARTI APPOINTMENTS Noperson shall be eligible for appointment as a managing or whole-time director ora manager (hereinafterreferred to as managerial person) of a company unless he satisfies the followingconditions, namely: - (a)he had not been sentenced to imprisonment for any period or to a fine exceedingone thousand rupees, for the conviction of an offence under any of the followingActs, namely; - (i)the Indian Stamp Act, 1899(2of 1899). (ii)the Central Excise and Salt Act, 1944(1of 1944). (iii)the Industries (Development and Regulation) Act, 1951(65of 1951). (iv)the..... View Complete Act List Judgments citing this sectionTitle : Management of Producer Company
State : Central
Year : 1956
Every Producer Company shall have at least five and not more than fifteen directors: Provided that in the case of an inter-State co-operative society incorporated as a Producer Company, such company may have more than fifteen directors for a period of one year from the date of its incorporation as a Producer Company. Section 581P - Appointment of directors (1) Save as provided in section 581N, the Members who sign the memorandum and the articles may designate therein the Board of directors (not less than five) who shall govern the affairs of the Producer Company until the directors are elected in accordance with the provisions of this section. (2) The election of directors shall be conducted within a period of ninety days of the registration of the Producer Company: Provided..... View Complete Act List Judgments citing this sectionState : Central
Year : 1976
LIFE INSURANCE CORPORATION (MODIFICATION OF SETTLEMENTS) ACT, 1976 LIFE INSURANCE CORPORATION (MODIFICATION OF SETTLEMENTS) ACT, 1976 72 of 1976 29th May, 1976 The provisions of the Payment of Bonus Act, 1965 do not apply to the employees employed by the Life Insurance Corporation of India. However, the Corporation has, as a matter of practice, been paying bonus to its employees. The bonus to Class I and Class II employees is being paid in pursuance of agreements between the Corporation and such employees. The bonus to Class III and Class IV employees is being paid under the terms of settlement arrived at between the Corporation and such employees from time to time. In terms of the settlement arrived at between the Corporation and its Class III and Class IV employees on 24th..... List Judgments citing this sectionTitle : Matters to Be Transacted at General Meeting
State : Central
Year : 1956
(1) The Board of directors of a Producer Company shall exercise the following powers on behalf of that company, and it shall do so only by means of resolutions passed at the annual general meeting of its Members, namely: (a) approval of budget and adoption of annual accounts of the Producer Company; (b) approval of patronage bonus; (c) issue of bonus shares; (d) declaration of limited return and decision on the distribution of patronage; (e) specify the conditions and limits of loans that may be given by the Board to any director; and (f) approval of any transaction of the nature as is to be reserved in the articles for approval by the Members. View Complete Act List Judgments citing this sectionTitle : Modification of Settlements
State : Central
Year : 1976
Notwithstanding anything contained in the Industrial Disputes Act, 1947, the provisions of each of the settlements, in so far as they relate to the payment of an annual cash bonus to every Class III and Class IV employee of the Corporation at the rate of fifteen per cent of his annual salary, shall not have any force or effect and shall not be deemed to have had any force or effect on and from the 1st day of April, 1975. View Complete Act List Judgments citing this sectionState : Central
Year : 1938
INSURANCE ACT, 1938 INSURANCE ACT, 1938 4 of 1938 26th February, 1938 An Act to consolidate and amend the law relating to the business of insurance. Whereas it is expedient to consolidate and amend the law relating to the business of insurance; It is hereby enacted as foltows :- This Act has been applied to- (i) the partially excluded areas in the District of Darjesling, see Bengal Government Notification No. 1902-Com., dated 28-6-1939, Calcutta Gazette, dated 16-7-1939; (ii) the partially excluded areas in the Province of Orissa with effect from 14-10-1939, see Orissa Laws Validating Regulation, 1943 (1 of 1943). The Act has been extended to the new Provinces and Merged States by the S.3OF THE Merged States (Laws) Act, 1949 (1-1-1950) and to the States of Manipur, Tripura..... List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 1938
1[ 102 . Penalty for default in complying with, or act in contravention of, this Act If any person, who is required under this Act, or rules or regulations made thereunder,-- (a) to furnish any document, statement, account, return or report to the Authority, fails to furnish the same; or (b) to comply with the directions, fails to comply with such directions; (c) to maintain solvency margin, fails to maintain such solvency margin; (d) to comply with the directions on the insurance treaties, fails to comply with such directions on the insurance treaties, he shall be liable to a penalty not exceeding five lakh rupees for each such failure and punishable with fine. ________________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for sections 102 to 105..... View Complete Act List Judgments citing this section