Bare Act Search Results

Unit Trust of India Act, 1963 Complete Act

State: Central

Year: 1963

.....all powers and do all acts and things which may be exercised or done by the Trust. (2) The Board shall, in discharging its functions under this Act, act on business principles regard being had to the interest of the unit holders. SECTION 10: BOARD OF TRUSTEES The Board of trustees shall consist of the following namely- (a) the Chairman to be appointed by the16[Central Government in Consultation with the Development Bank]; 17[(aa) one trustee to be nominated by the Reserve Bank;] (b) four trustees to be nominated by the16[Development Bank], of whom not less than three shall be persons having special knowledge of, or experience in, commerce, industry, banking, finance or investment; (c) one trustee to be nominated by the Life Insurance Corporation; (d) one trustee to be nominated by the State Bank; (e) two trustees to be elected in the prescribed manner by the contributing institutions referred to in clause (d) of sub-section (2) of section 4-, and (f) an executive trustee to be appointed by the16[Development Bank]. Provided that if the appointment of the Chairman is whole -time it shall not be necessary to appoint an executive trustee: Provided further that on the first.....

Unit Trust of India Act, 1963 (52 of 1963) Chapter IV

Title: Powers and Functions of the Trust

State: Central

Year: 1963

.....(2), (4), (6), (7), sub-clause (c) of Cl. (8) and Cls. (11), (12), (13) and (15) of sub-section (1).] _____________________ 1. Substituted by Act 63 of 1985, Section 5 (w.e.f. 23rd April, 1985). Section 19A - Power to impose conditions, etc. 1[19A. Power to impose conditions, etc. (1) In entering into any arrangement, under Section 19, with any concern, the Trust may impose such conditions as it may think necessary or expedient for protecting the interest of the Trust and for securing that the accommodation granted by it is put to the best use by the industrial concern. (2) Where any arrangement entered into by the Trust under Section 19 with any concern provides for the appointment by the Trust of one or more directors of such concern, such provision and any appointment of directors made in pursuance thereof shall be valid and effective notwithstanding anything to the contrary contained in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in force or in the memorandum, articles of association or any other instrument relating to the concern, and any provision regarding share qualification, age limit, number of directorships, removal from.....

Unit Trust of India Act, 1963 (52 of 1963) Section 20B

Title: Grants, Donations, Etc. to Trust

State: Central

Year: 1963

The Trust may receive gifts, donations or benefactions from Government or any other source and such gifts, grants, donations or benefaction shall be treated by the Board as capital or income of the first unit scheme or, as the case may be, of any subsequent unit scheme according to the purposes for which they are made and in the absence of any indication of such purposes, they shall be treated as capital or income of such units scheme or schemes and to such extent as the Board thinks fit.

Unit Trust of India Act, 1963 (52 of 1963) Section 22

Title: Capital of the Trust

State: Central

Year: 1963

.....donations or benefactions from the Government or any other source and treated as the capital of that scheme under Sec. 20-B. (vi) any other capital allocated to that scheme by the Board having regard to the nature of such capital and other relevant factors. (2) The capital of the Trust in relation to any subsequent unit scheme shall consist of-- (i) the unit capital of that scheme, (ii) any reserves created for that scheme, (iii) any amount borrowed for the purposes of that scheme, (iv) any amount received for the purposes of that scheme by way of gifts, grants, donations or benefactions from the Government or any other source and treated as the capital of that scheme under Sec. 20-B, (v) any other capital allocated to that scheme by the Board having regard to the nature of such capital and other relevant factors. (3) The capital in respect of a unit scheme shall be held separately from the capital in respect of any other unit scheme and such capital shall, subject to the provisions of this Chapter, be applied solely for the purposes of that unit scheme.

Unit Trust of India Act, 1963 (52 of 1963) Section 23

Title: Income of the Trust

State: Central

Year: 1963

The income of the Trust shall consist of-- (i) in relation to the first unit scheme,-- (a) the income arising out of the capital referred to in sub-section (1) of Sec. 22, (b) any gifts, grants, donations or benefactions treated as the income of that scheme under Sec. 20-B, and (c) any other income allocated to that scheme by the Board having regard to the income and other relevant factors; (ii) in relation to any subsequent unit scheme,-- (a) the income arising out of the capital referred to in sub-section (2) of Sec. 22, (b) any gifts, grants, donations or benefactions treated as the income of that scheme under Sec. 20-B, and (c) any other income allocated to that scheme by the Board having regard to the nature of the income and other relevant factors.

Agricultural Refinance and Development Corporation Act 1963 Chapter IV

Title: Funds and Business of the Corporation

State: Central

Year: 1963

..... 1. Omitted by Act 45 of 1975 w.e.f. 15.11.1975. Section 24 - Power to impose conditions for accommodation In entering into any transaction under Section 22 with an eligible institution, the Corporation may impose such conditions as it may think necessary or expedient for protecting the interests of the Corporation. Section 25 - Power to call for repayment before agreed period Notwithstanding anything to the contrary contained in any agreement, the Corporation may, by notice in writing, require any eligible institution to which it has granted any loan or advance to discharge forthwith in full its liabilities to the Corporation: (a) if it appears to the Board that false or misleading information in any material particular was given in the application for the loan or advance; or (b) if the eligible institution has failed to comply with any of the terms of its contract with the Corporation in the matter of the loan or advance; or (c) if there is a reasonable apprehension that the eligible institution is unable to pay its debts or that proceedings for liquidation maybe commenced in respect thereof; or (d) if for any reason it is necessary to do so to.....

Agricultural Refinance and Development Corporation Act 1963 Section 20

Title: Borrowings by Corporation

State: Central

Year: 1963

.....be less than twelve months from the date of the making of the deposit and on such other terms as the Corporation may, with the prior approval of the Reserve Bank, fix and 2[(e) receive gifts, grants, donations or benefactions from Government or any other source and such gifts, grants, donations or benefactions shall not be treated as the income, profits and gains of the Corporation.]. (2) The amount of loan granted by the Central Government under Section 19 and outstanding, together with the amount of bonds and debentures issued under clause (a) of sub-section (1) and outstanding, the amounts borrowed by the Corporation3[and outstanding under clauses (b), (bb) and (c) of that sub-section] and the amount of deposits accepted under clause (d) of that sub-section, shall not at any time in the aggregate exceed twenty times the amount of the paid-up share capital and the reserve fund of the Corporation. ____________________________ 1. Inserted by Act 39 of 1971. 2. Inserted by Nos. S.O. 452(E), dated 28.08.1975 and S.O. 615(E), dated 24.10.1975, w.e.f 15.11.1975. 3. Substituted by Act 39 of 1971.

Agricultural Refinance and Development Corporation Act, 1963 Complete Act

State: Central

Year: 1963

.....enumerated in Section 20 of the Indian Trusts Act, 1882 (2 of 1882)-, and be also deemed to be approved securities for the purposes of the Insurance Act, 1938 (4 of 1938)-, and the15[Banking Regulation Act], 1949 (10 of 1949)- SECTION 08: REGISTER OF SHAREHOLDERS - (1) The Corporation shall maintain at its head office a register of the shareholders and shall enter therein the following particulars so far as they may be available, namely:- (i) the names and addresses of the shareholders and a statement of the shares held by each shareholder, distinguishing each share by its denoting number; (ii) the date on which each person is entered as a shareholder; (iii) the date on which any person ceases to be a shareholder; and (iv) such other particulars as may be prescribed. (2) Notwithstanding anything contained in this Act or in any other law for the time being in force, no notice of any trust, express, implied or constructive, shall be entered on the register maintained under sub-section (1) or be receivable by the Corporation. CHAPTER 03: MANAGEMENT OF THE CORPORATION SECTION 09: MANAGEMENT (1) The general superintendence, direction and management of the affairs and.....

Karnataka Universities of Agricultural Sciences Act, 1963 Chapter 5

Title: University Funds

State: Karnataka

Year: 1963

.....grants, which may be made by the Government on such conditions as it may impose; (iii) other contributions, receipts, grants, donations and benefactions. Section 31 - Foundation Fund (1) The University shall form a fund called the Foundation Fund from contributions and grants made by the Central Government and the State Government for being credited to that fund and of such other sums of the University which may be credited to the said fund. (2) All the moneys in the Foundation Fund shall be invested in the securities mentioned or referred to in clauses (a) to (d) of section 20 of the Indian Trusts Act, 1882. Section 32 - Pension and Provident Funds (1) Where any pension fund, or provident fund has been constituted by the University for the benefit of its officers, teachers or servants, the State Government may declare that the provisions of the Provident Funds Act, 1925 (Central Act 19 of 1925) shall apply to such fund as if it were a Government Provident Fund. (2) Persons in Government services transferred to the University under section 7 shall be entitled to pension under the1[Karnataka] State Civil Services Rules or such other rules as were applicable to them.....

Karnataka Universities of Agricultural Sciences Act, 1963 Section 30

Title: General Funds

State: Karnataka

Year: 1963

The University shall have a general fund to which shall be credited,- (i) its income from fees, endowments and grants, if any; (ii) contributions or grants, which may be made by the Government on such conditions as it may impose; (iii) other contributions, receipts, grants, donations and benefactions.