Title : Coal Mines (Nationalisation) Act, 1973
State : Central
Year : 1973
THE COAL MINES (NATIONALISATION) ACT, 1973 [Act, No. 26 Of 1973] [30th May, 1973] PREAMBLE An Act to provide for the acquisition and transfer of the right, title and interest of the owners in respect of the coal mines specified in the schedule with a view to re-organising and reconstructing such coal mines so as to ensure the rational, co-ordinated and scientific development and utilisation of coal resources consistent with the growing requirements of the country, in order that the ownership and control of such resources are vested in the State and thereby so distributed as best to subserve the common good and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twenty-fourth Year of the Republic of India as follows:-- View Complete Act List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 1973
This provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law other than this Act, or in any decree or order of any court, tribunal or other authority. Section 29 - Contracts to cease to have effect unless ratified by Government (1) Every contract entered into by the owner or occupier of any coal mine for any service, sale or supply and in force immediately before the appointed day shall on and from the expiry of one hundred and twenty days from the appointed day, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government and in ratifying such contract the Central Government..... View Complete Act List Judgments citing this sectionState : Central
Year : 1972
GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972 GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972 57 of 1972 20th September, 1972 "By the General Insurance (Emergency Provisions) Ordinance, 1971, which was later replaced by an Act of Parliament the management of the undertakings of all insurers carrying on general insurance business was vested in the Central Government, pending nationalisation. The object of the present Bill is to complete the process of nationalisation which is sought to be effected in the following manner. On a day to be appointed by the Central Government, the shares in insurance companies carrying on general insurance business, which are incorporated in India and having a share capital, would automatically stand transferred to and vested in,..... List Judgments citing this sectionTitle : General Insurance Business (Nationalisation) Amendment Act, 2002
State : Central
Year : 1972
Amending Act 1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 [Act No. 40 of 2002] Preamble An Act further to amend the General Insurance Business (Nationalisation) Act, 1972 BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :-- 1. Short title and commencement (1) This Act maybe called the General Insurance Business (Nationalisation) Amendment Act,2002. (2) It shallcome into force on such date1 as the Central Government may, bynotification in the Official Gazette, appoint. ______________________ 1. Dateappointed is 21.03.2003 by Notification No. SO 329(E) dated 21.03.2003 2. Amendment of section 9 In section 9..... View Complete Act List Judgments citing this sectionTitle : General Insurance Business (Nationalisation) Act,1972
State : Central
Year : 1972
Preamble1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972 Chapter I Section1 - Short title Section2 - Declaration as to the policy of the State Section3 - Definitions Chapter II Section4 - Transfer of shares of Indian insurance companies Section5 - Transfer of undertakings of other existing insurers Section6 - Effect of transfer of undertakings Section7 - Transfer of service of existing employees in certain cases Section8 - Provident, superannuation, welfare and other funds Chapter III Section9 - Formation of General Insurance Corporation of India Section10 - Transfer of Corporation of shares vested in Central Government Section10A - Transfer to Central Government of shares vested in Corporation Chapter IV Section11 - Amounts to be paid for transfer and vesting of..... List Judgments citing this sectionTitle : Short Title
State : Central
Year : 1972
This Act may be called the General Insurance Business (Nationalisation) Act, 1972. View Complete Act List Judgments citing this sectionTitle : Balance of Profit How to Be Utilised
State : Central
Year : 1972
(1) After making provision for bad and doubtful debts,depreciation in assets, provident, superannuation, welfare and otherfunds, debts due to Government and all other matters for which provision is necessary under anylaw or which are usually provided for by insurance companies, every acquiringcompany shall distribute the balance of profit as dividends. (2) Any profit made by the Corporationand any sums received by the Corporation by way of dividends or otherwise shall be dealt with by itin such manner as may be prescribed. View Complete Act List Judgments citing this sectionTitle : Power of Central Government to Issue Directions
State : Central
Year : 1972
The Corporation and every acquiring company shall, in the discharge of its functions, be guided by such directions in regard to matters of policy involving public interest as the Central Government may give. View Complete Act List Judgments citing this sectionTitle : Officers and Employees of Corporation or of Acquiring Companies to Be Public Servants
State : Central
Year : 1972
Every officer or other employee of the Corporation or of an acquiring company shall be deemed to be a public servant for the purposes of Chapter IX of the Indian Penal Code (45 of 1860). View Complete Act List Judgments citing this sectionTitle : Dissolution of Corporation and Acquiring Companies
State : Central
Year : 1972
No provision of law relating to the winding up of companies shall apply to the Corporation or to an acquiring company, and neither the Corporation nor any such company shall be placed in liquidation save by order of the Central Government and in such manner as it may direct. View Complete Act List Judgments citing this section