Bare Act Search Results

Companies Act, 1956 Section 77B

Title: Prohibition for Buy-back in Certain Circumstances

State: Central

Year: 1956

1[77B. Prohibition for buy-back in certain circumstances (1) No company shall directly or indirectly purchase its own shares or other specified securities - (a) through any subsidiary company including its own subsidiary companies; or (b) through any investment company or group of investment companies; or (c) if a default, by the company, in repayment of deposit or interest payable thereon, redemption of debentures or preference shares or payment of dividend to any shareholder or repayment of any term loan or interest payable thereon to any financial institution or bank, is subsisting. (2) No company shall directly or indirectly purchase its own shares or oilier specified securities in case such company has not complied with the provisions of sections 159, 207 and 211.] _____________________ 1. Inserted by Act 21 of 1999, Section 4 (w.r.e.f. 31-10-1998).

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2 of the Securities Contracts (Regulation) Act, 1956) (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction ; [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise ; [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in (section 3); (17) "financial year" means, in relation to any body corporate, the period in respect of which.....

National Highways Act, 1956 Complete Act

State: Central

Year: 1956

.....(3) Pondicherry, by Regn. 7 of 1963 (1-10-1963). (4) Sikkim-See S.O. 208 (E) of 1975. SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the National Highways Act, 1956. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in the Official Gazette, appoint. SECTION 02: DECLARATION OF CERTAIN HIGHWAYS TO BE NATIONAL HIGHWAYS (1) Each of the highways specified in the Schedule4[***]is hereby declared to be a national highway. (2) The Central Government may, by notification in the Official Gazette, declare any other highway to be a national highway and on the publication of such notification such highway shall be deemed to be specified in the Schedule. (3) The Central Government may, by like notification, omit any highway from the Schedule and on the publication of such notification, the highway so omitted shall cease to be a national highway. SECTION 03: DEFINITIONS 5-In this Act, unless the context otherwise requires,- (a) "competent authority" means any person or authority authorised by the Central Government, by notification in the Official Gazette, to perform the functions of.....

The University Grants Commission Act, 1956 Complete Act

State: Uttarakhand

Year: 1956

.....17-6-1972). -------------------- (f) "University" means a University established or incorporated by or under a Central Act, a Provincial Act or a State Act, and includes any such institution as may, in consultation with the University concerned, be recoginsed by the Commission in accordance with the regulations made in this behalf under this Act. Application of Act to institutions for higher studies other than Universities 3. The Central Government may, on the advice of the Commission, declare by notification in the Official Gazette, that any institution for higher education, other than a University, shall be deemed to be a University for the purposes of this Act, and on such a declaration being made, all the provisions of this Act shall apply to such institution as if it were a University within the meaning of clause (f) of section 2. 4. (1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint, there shall be established a Commission by the name of the University Grants Commission. (2) The said Commission shall be a body corporate having perpetual succession and a common seal, and shall by the said name.....

Companies Act, 1956 Part 3

Title: Prospectus and Allotment, and Other Matters Relating to Issue of Shares or Debentures

State: Central

Year: 1956

.....1934), repayment of such deposit shall be made in full on or before the 1st day of April, 1975, and such repayment shall be without prejudice to any action that may be taken under the Reserve Bank of India Act, 1934 for the acceptance of such deposit in contravention of such direction. 6[(3A) Every deposit accepted by a company after the commencement of the Companies (Amendment) Act, 1998, shall, unless renewed in accordance with the rules made under sub-section (1), be repaid in accordance with the terms and conditions of such deposit.] (4) Where any deposit is accepted by a company after the commencement of the Companies (Amendment) Act, 1974, in contravention of the rules made under sub­section (1), repayment of such deposit shall be made by the company within thirty days from the date of acceptance of such deposit or within such further time, not exceeding thirty days, as the Central Government may, on sufficient cause being shown by the company, allow. (5) Where a company omits or fails to make repayment of a deposit in accordance with the provisions of clause (c) of sub-section (3), or in the case of a deposit referred to in sub-section (4), within the time.....

Companies Act, 1956 Section 77A

Title: Power of Company to Purchase Its Own Securities

State: Central

Year: 1956

.....resolution is proposed to be passed shall be accompanied by an explanatory statement stating - (a) a full and complete disclosure of all material facts; (b) the necessity for the buy-back; (c) the class of security intended to be purchased under the buy-back; (d) the amount to be invested under the buy-back; and (e) the time limit for completion of buy-back. (4) Every buy-back shall be completed within twelve months from the date of passing the3[special resolution or a resolution passed by the Board] under clause (b) of sub-section (2). (5) The buy-back under sub-section (1) may be - (a) from the existing security holders on a proportionate basis; or (b) from the open market; or (c) from odd lots, that is to say, where the lot of securities of a public company, whose shares are listed on a recognised stock exchange, is smaller than such marketable lot, as may be specified by the stock exchange; or (d) by purchasing the securities issued to employees of the company pursuant to a scheme of stock option or sweat equity. (6) Where a company has passed a special resolution under clause (b) of sub­section (2)2[or the Board has passed a resolution under the.....

Companies Act, 1956 Amending Act 2

Title: Companies (Amendment) Act, 2001

State: Central

Year: 1956

.....of sub-section (2)", the words, brackets and letter "or the Board has passed a resolution under the first proviso to clause (b) of that subsection" shall be inserted; (d) In Sub-section (8), for the words "within a period of twenty-four months", the words "within a period of six months" shall be substituted. 3. Amendment of Section 292 - In section 292 of the principal Act, in sub-section (/), after clause (a), the following clause shall be inserted, namely:-- "(aa) the power to authorise the buy-back referred to in the first proviso to clause (b) of sub-section (2) of section 77A;". 4. Repeal and Saving - (1) The Companies (Amendment) Ordinance, 2001 (Ord. 7 of 2001) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the principal Act. as amended by the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of the principal Act, as amended by this Act.

Companies Act, 1956 Part 1

Title: Preliminary

State: Central

Year: 1956

.....as in the Depositories Act, 1996 (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the Principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction; 11 [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise; 11 [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in section 3; (17) "financial year" means in relation to any body corporate, the period in respect of which.....

Companies Act, 1956 Section 2

Title: Definitions

State: Central

Year: 1956

.....as in the Depositories Act, 1996 (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);] (13) "director" includes any person occupying the position of director, by whatever name called; (14) "District Court" means the Principal Civil Court of original jurisdiction in a district, but does not include a High Court in the exercise of its ordinary original civil jurisdiction; 11 [(14A) "dividend" includes any interim dividend;] (15) "document" includes summons, notice, requisition, order, other legal process, and registers, whether issued, sent or kept in pursuance of this or any other Act or otherwise; 11 [(15A) "employees stock option" means the option given to the whole-time directors, officers or employees of a company, which gives such directors, officers or employees the benefit or right to purchase or subscribe at a future date, the securities offered by the company at a pre-determined price;] (16) "existing company" means an existing company as defined in section 3; (17) "financial year" means in relation to any body corporate, the period in respect of which.....

Medicinal and Toilet Preparations (Excise Duties) Rules, 1956 Complete Act

State: Central

Year: 1956

.....or, to determine the capacity of any cask or receptacle; (xii) "laboratory" means that part of a non-bonded or bonded manufactory in which the actual manufacture of dutiable goods takes place; (xiii) "manufacturer" means a person to whom a licence has been granted for the manufacture of dutiable goods; (xiv) "officer-in-charge" means an officer of the Excise Department of any State appointed by the collecting Government to supervise work in a bonded manufactory or a bonded warehouse and includes officers of any other Department similarly appointed; (xv) "proper officer" means an Excise Officer in whose jurisdiction the premises of the manufacturer of any dutiable goods, or of any person engaged in the process of manufacture of,or trade in such goods or containers thereof, whether as manufacturer, wholesale dealer, or intended manufacturer or wholesale dealer, are situated; (xvi) "prove" means to test the strength of alcohol by hydrometer or other suitable instrument; (xvii) "quarter" means a period of three months beginning with 1st January, 1st April, 1st July or 1st October; (xviii) "rectified spirit" means plain undenatured alcohol of a strength not less than 50.0.....