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Start Free TrialTransfer of Property Act, 1882 Section 21
Title: Contingent Interest
State: Central
Year: 1882
Where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified uncertain event, or if a specified uncertain event shall not happen, such person thereby acquires a contingent interest in the property. Such interest becomes a vested interest, in the former case, on the happening of the event, in the latter, when the happening of the event becomes impossible. Exception. Where, under a transfer of property, a person becomes entitled to an interest therein upon attaining a particular age, and the transferor also gives to him absolutely the income to arise from such interest before he reaches that age, or directs the income or so much thereof as may be necessary to be applied for his benefit, such interest is not contingent.
View Complete Act List Judgments citing this sectionMarine Insurance Act, 1963 Section 9
Title: Defeasible or Contingent Interest
State: Central
Year: 1963
(1) A defeasible interest is insurable, as also is a contingent interest. (2) In particular, where the buyer of goods has insured them, he has an insurable interest, notwithstanding that he might, at his election, have rejected the goods, or have treated them as at the seller's risk, by reason of the latter's delay in making delivery or otherwise.
View Complete Act List Judgments citing this sectionIndian Succession Act, 1925 Section 120
Title: Date of Vesting when Legacy Contingent Upon Specified Uncertain Event
State: Central
Year: 1925
(1) A legacy bequeathed in case a specified uncertain event shall happen does not vest until that event happens. (2) A legacy bequeathed in case a specified uncertain event shall not happen does not vest until the happening of that event becomes impossible. (3) In either case, until the condition has been fulfilled, the interest of the legatee is called contingent. Exception.Where a fund is bequeathed to any person upon his attaining a particular age, and the will also gives to him absolutely the income to arise from the fund before he reaches that age, or directs the income, or so much of it as may be necessary, to be applied for his benefit, the bequest of the fund is not contingent. Illustration (i) A legacy is bequeathed to D in case A, B and C shall all die under the age of 18. D has a contingent interest in the legacy until A, B and C all die under 18, or one of them attains that age. (ii) A sum of money is bequeathed to A "in case he shall attain the age of 18", or "when he shall attain the age of 18". A's interest in the legacy is contingent until the condition is fulfilled by his attaining that age. (iii) An estate is bequeathed to A for life, and after his
View Complete Act List Judgments citing this sectionContingency Fund of India Act, 1950 Section 2
Title: Establishment of the Contingency Fund of India
State: Central
Year: 1950
.....shall be substituted.] ____________________ 1. Section 2 numbered as sub-section (1) by Finance Act, 2005, w.e.f. 13.05.2005. 2 . Substituted by Act 81 of 1976, w.e.f 26.08.1976. 3. Inserted by Finance Act, 2005, w.e.f 13.05.2005. 4. Substituted by The Contingency Fund Of India (Amendment) Act, 1999 (Act 29 of 1999) w.e.f 17.11.1999. Prior to substitution the proviso read as under: "PROVIDED that during the period beginning on the 26th day of December, 1997 and ending on the 23rd day of January, 1998, this section shall have effect subject to the modification that for the words 'fifty crores of rupees', the words 'fourteen thousand seven hundred crores of rupees' shall be substituted: PROVIDED FURTHER that during the period beginning on the 24th day of January, 1998 and ending on the 31st day of March, 1998, this section shall have effect subject to the modification that for the words 'fifty crores of rupees', the words 'thirty-two thousand four hundred and ninety crores of rupees' shall be substituted."
View Complete Act List Judgments citing this sectionContingency Fund Act, 1957 Preamble 1
Title: Karnataka Contingency Fund Act, 1957
State: Karnataka
Year: 1957
THE1[KARNATAKA] CONTINGENCY FUND ACT, 19572 [Act, No. 11 of 1957] [31st March, 1957] An Act to provide for the establishment of a Contingency Fund for the1[State of Karnataka]. WHEREAS clause (2) of article 267 of the Constitution of India provides that the Legislature of a State may by law establish a Contingency Fund in the nature of an imprest; AND WHEREAS it is expedient to establish such a Contingency Fund for the1[State of Karnataka]; BE it enacted by the1[Karnataka] State Legislature in the Eighth Year of the Republic of India as follows:- ______________________________ 1. Adapted by the Karnataka Adaptions of Laws Order 1973 w.e.f. 1-11-1973. 2. First published in the [Karnataka Gazette] on the First Day of April 1957.
View Complete Act List Judgments citing this sectionContingency Fund of India Act, 1950 Complete Act
Title: Contingency Fund of India Act, 1950
State: Central
Year: 1950
Preamble1 - CONTINGENCY FUND OF INDIA ACT, 1950 Section1 - Short title Section2 - Establishment of the Contingency Fund of India Section3 - Custody of the Contingency Fund and withdrawals there from Section4 - Power to make rules
List Judgments citing this sectionContingency Fund Act, 1957 Complete Act
Title: Contingency Fund Act, 1957
State: Karnataka
Year: 1957
Preamble 1 - KARNATAKA CONTINGENCY FUND ACT, 1957 Section 1 - Short title Section 2 - Establishment of a Contingency Fund Section 3 - Custody of the Contingency Fund and withdrawals therefrom Section 4 - Power to make rules
List Judgments citing this sectionContingency Fund of India Act, 1950 Preamble 1
Title: Contingency Fund of India Act, 1950
State: Central
Year: 1950
CONTINGENCY FUND OF INDIA ACT, 1950 [Act, No. 49 of 1950] [14th AUGUST, 1950] PREAMBLE An Act to provide for the establishment and maintenance of Contingency Fund. BE it enacted by Parliament as follows:
View Complete Act List Judgments citing this sectionContingency Fund Act, 1957 Section 2
Title: Establishment of a Contingency Fund
State: Karnataka
Year: 1957
There shall be established for the1[State of Karnataka] a Contingency Fund in the nature of an imprest entitled the Contingency Fund of the1[State of Karnataka], into which shall be paid from and out of the Consolidated Fund of the State a sum of2[eighty crores of rupees]. ________________________ 1. Adapted by the Karnataka Adaptations of Laws Order 1973 w.e.f. 1.11.1973. 2. Substituted by Act 31 of 1985 w.e.f. 12.6.1985.
View Complete Act List Judgments citing this sectionContingency Fund of India Act, 1950 Section 3
Title: Custody of the Contingency Fund and Withdrawals there from
State: Central
Year: 1950
The Contingency Fund of India shall be held on behalf of the President by a Secretary to the Government of India in the Ministry of Finance, and no advances shall be out of such fund except for the purposes of meeting unforeseen expenditure pending authorization of such expenditure by Parliament under appropriations made by law.
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