Bare Act Search Results

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Section 11

Title: Shares, Bonds and Debentures to Be Deemed to Be Approved Securities

State: Central

Year: 1997

Notwithstanding anything contained in any other law for the time being in force, the shares, bonds and debentures of the Company shall be deemed to be approved securities for the purposes of the Indian, Trusts Act, 1882 (2 of 1882) , the Insurance Act, 1938 (4 of 1938) and the Banking Regulation Act, 1949 (10 of 1949).

Finance Act, 1997 Complete Act

State: Central

Year: 1997

.....actually paid and the subsequent previous year or years during which the licence, for which the fee is paid, shall be in force; (ii) 'appropriate fraction' means the fraction the numerator of which is one and the denominator of which is the total number of the relevant previous years; (iii) 'payment has actually been made' means the actual payment of expenditure irrespective of the previous year in which the liability for the expenditure was incurred according to the method of accounting regularly employed by the assessee. (2) Where the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) are less than the expenditure incurred remaining unallowed, a deduction equal to such expenditure remaining unallowed, as reduced by the proceeds of the transfer, shall be allowed in respect of the previous year in which the licence is transferred. (3) Where the whole or any part of the licence is transferred and the proceeds of the transfer (so far as they consist of capital sums) exceed the amount of the expenditure incurred remaining unallowed, so much of the excess as does not exceed the difference between the expenditure incurred to obtain the.....

Finance Act 1997 Section 18

Title: Amendment of Section 48

State: Central

Year: 1997

In section 48 of the Income-tax Act, after the second proviso, the following proviso shall be inserted with effect from the 1st day of April, 1998, namely :- "Provided also that nothing contained in the second proviso shall apply to the long-term capital gain arising from the transfer of a long-term capital asset being bond or debenture other than capital indexed bonds issued by the Government.".

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Chapter III

Title: Miscellaneous

State: Central

Year: 1997

.....Trusts Act, 1882 (2 of 1882) , the Insurance Act, 1938 (4 of 1938) and the Banking Regulation Act, 1949 (10 of 1949). Section 12 - Substitution in Act, rules or regulations of company in place of the Reconstruction Bank In every Act, rule or regulation in force on the appointed day,-- (a) for the words "Industrial Reconstruction Bank of India", wherever they occur, the words "Industrial Investment Bank of India Limited" shall be substituted; (b) for the words "Reconstruction Bank", wherever they occur, the words "Industrial Investment Bank" shall be substituted. Section 13 - Repeal and saving of Act 62 of 1984 (1) On the appointed day, the Industrial Reconstruction Bank of India Act, 1984 shall stand repealed. (2) Notwithstanding the repeal of the Industrial Reconstruction Bank of India Act, 1984,-- (a) the Company shall, so far as may be, comply with the provisions of Chapter VII of the Act so repealed for any of the purposes related to the annual accounts and audit of the Reconstruction Bank; (b) the provisions of Chapter VIII of the Act so repealed will continue to be applicable in respect of the arrangements entered into by the Reconstruction Bank with an.....

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Complete Act

State: Central

Year: 1997

.....Trusts Act, 1882 (2 of 1882), the Insurance Act, 1938 (4 of 1938)-and the Banking Regulation Act, 1949 (10 of 1949)- SECTION 12: SUBSTITUTION IN ACTS, RULES OR REGULATIONS OF COMPANY IN PLACE OF THE RECONSTRUCTION BANK -In every Act, rule or regulation in force on the appointed day,- (a) for the words "Industrial Reconstruction Bank of India", wherever they occur, the words "Industrial Investment Bank of India Limited" shall be substituted, (b) for the words "Reconstruction Bank", wherever they occur, the words "Industrial Investment Bank" shall be substituted. SECTION 13: REPEAL AND SAVING OF ACT 62 OF 1984 - (1) On the appointed day, the Industrial Reconstruction Bank of India Act, 1984-shall stand repealed. (2) Notwithstanding the repeal of the Industrial Reconstruction Bank of India Act, 1984-- (a) the Company shall, so far as may be, comply with the provisions of Chapter VII of the Act so repealed for any of the purposes related to the annual accounts and audit of the Reconstruction Bank; (b) the provisions of Chapter VIII of the Act so repealed will continue to be applicable in respect of the arrangements entered into by the Reconstruction Bank with an industrial.....

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Section 4

Title: General Effect of Vesting of Undertaking in Company

State: Central

Year: 1997

.....the Reconstruction Bank have vested by virtue of this Act and enforceable as fully and effectually as if instead of the Reconstruction Bank, the Company had been named therein or had been a party thereto. (4) Any proceeding or cause of action pending or existing immediately before the appointed day by or against the Reconstruction Bank in relation to its undertakings may, as from the appointed day, be continued and enforced by or against the Company in which the undertakings of the Reconstruction Bank have vested by virtue of this Act as it might have been enforced by or against the Reconstruction Bank if this Act had not been enacted and shall cease to be enforceable by or against the Reconstruction Bank.

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Chapter II

Title: Transfer and Vesting of the Undertaking of Reconstruction Bank in Company

State: Central

Year: 1997

.....of the Reconstruction Bank have vested by virtue of this Act as it might have been enforced by or against the Reconstruction Bank if this Act had not been enacted and shall cease to be enforceable by or against the Reconstruction Bank. Section 5 - Provisions in respect of officers and other employees of Reconstruction Bank (1) Every officer or other employee of the Reconstruction Bank (except a Director of the Board or the Chairman and Managing Director) serving in the employment immediately before the appointed day shall, in so far as such officer or other employee is employed in connection with the undertakings which have vested in the Company by virtue of this Act, become, as from the appointed day, an officer or, as the case may be, other employee of the Company and shall hold his office or service therein by the same tenure, at the same remuneration, upon the same terms and conditions, with the same obligations and with the same rights and privileges as to leave, leave fare concession, welfare scheme, medical benefit scheme, insurance, provident fund, other funds, retirement, voluntary retirement, gratuity and other benefits as he would have held under the.....

Finance Act 1997 Chapter III

Title: Direct Taxes

State: Central

Year: 1997

.....of a recognised stock exchange" means the membership of a stock exchange in India which is recognised under the provisions of the Securities Contract (Regulation) Act, 1956 (42 of 1956); (xii) any transfer of a capital asset, being land of sick industrial company, made under a scheme prepared and sanctioned under section 18 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), where such sick industrial company is being managed by its workers' co-operative : Provided that such transfer is made during the period commencing from the previous year in which the said company has become a sick industrial company under sub-section (1) of section 17 of that Act and ending with the previous year during which the entire net worth of such company becomes equal to or exceeds the accumulated losses. Explanation. - For the purposes of this clause, "net worth" shall have the meaning assigned to it in clause (ga) of sub-section (1) of section 3 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986).'. Section 17 - Amendment Of Section 47A Section 47A of the Income-tax Act shall be renumbered as sub-section (1) thereof and after sub-section.....

Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997 Complete Act

Title: Industrial Reconstruction Bank (Transfer of Undertakings and Repeal) Act, 1997

State: Central

Year: 1997

Preamble1 - INDUSTRIAL RECONSTRUCTION BANK (TRANSFER OF UNDERTAKINGS AND REPEAL) ACT, 1997 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Undertakings of the Reconstruction Bank to vest in company Section4 - General effect of vesting of undertaking in Company Section5 - Provisions in respect of officers and other employees of Reconstruction Bank Chapter III Section6 - Concession, etc., to be deemed to have been granted to Company Section7 - Tax exemption or benefit to continue to have effect Section8 - Guarantee to be operative Section9 - Arrangement with Company on appointment of directors to prevail Section10 - Act 18 of 1891 to apply to the books of Company Section11 - Shares, bonds and debentures to be deemed to be approved securities Section12 - Substitution in Act, rules or regulations of company in place of the Reconstruction Bank Section13 - Repeal and saving of Act 62 of 1984 Chapter IV Section14 - Insertion of new section 4A Section15 - Repeal and Saving

Telecom Regulatory Authority of India Act, 1997 (24 of 1997) Chapter 3

Title: Powers and Functions of the Authority

State: Central

Year: 1997

..... (4) The Authority shall ensuretransparency while exercising its powers and discharging its functions. ____________________ 1. Substituted by Act 2 of 2000,section 9, for sub-section (1) (w.r.e.f. 24-1-2000). 2. Substituted by Act 2 of 2000,section 9, for "under sub-section (1)" (w.r.e.f. 24-1-2000). Section 12 - Powers of Authority to call for information, conduct investigations, etc. (1) Where the Authority considers it expedient so to do, it may, by order in writing, (a) call upon any service provider at any time to furnish in writing such information or explanation relating to its affairs as the Authority may require; or (b) appoint one or more persons to make an inquiry in relation to the affairs of any service provider; and (c) direct any of its officers or employees to inspect the books of account or other documents of any service provider. (2) Where any inquiry in relation to the affairs of a service provider has been undertaken under sub-section (1), (a) every officer of the Government Department, if such service provider is a department of the Government; (b) every director, manager, secretary or other officer, if such service provider is a.....