Bare Act Search Results

Life Insurance (Emergency Provisions) Act, 1956 [Repealed] Section 3

Title: Management of Controlled Business to Vest in Government on Commencement of Act

State: Central

Year: 1956

.....person), - (a) make any payment or grant any loan in respect of a policy of life insurance otherwise than in accordance with the normal practice observed by him in respect of such matters immediately before the appointed day; (b) incur any expenditure from the assets appertaining to the controlled business otherwise than for the purpose of making routine payments of salaries or commissions to employees, insurance agents, special agents or chief agents or for the purpose of meeting the routine day to day expenditure; (c) transfer or otherwise dispose of any such assets or create any charge, hypothecation, lien or other encumbrance thereon; (d) invest in any manner any moneys forming part of such assets; (e) acquire any immovable property out of any moneys forming part of such assets; (f) enter into any contract of service or agency, whether expressly or by implication, for purposes connected wholly or partly with the controlled business or vary the terms and conditions of any such contract subsisting on the appointed day; (g) enter into any other transaction relating to controlled business other than a contract relating to the issue of a new policy of life.....

Life Insurance Corporation Act, 1956 Section 7

Title: Transfer of Assets and Liabilities of Existing Insurers Carrying on Controlled Business

State: Central

Year: 1956

.....the insurer. Explanation.-The expression "assets appertaining" to the controlled business of an insurer"- (a) in relation to a composite insurer, includes that part of the paid-up capital of the insurer or assets representing such part which has or have been allocated to the controlled business of the insurer in accordance with the rules made in this behalf; (b) in relation to a Government, means the amount lying to the credit of that business on the appointed day. (3) Where any such assets are subject to any trust referred to in sub-section (6) of section 27 of the Insurance Act or to any other trust for the benefit of policy-holders, the assets shall be deemed to have vested in the Corporation free from any such trust. ________________________ 1. Ist September, 1956

Life Insurance (Emergency Provisions) Act, 1956 [Repealed] Section 4

Title: Power of Central Government to Appoint Custodians to Take over Management of Controlled Business

State: Central

Year: 1956

.....before such appointment shall cease to be in charge of such management and shall be bound to, deliver to the Custodian all books of account, registers or other documents in their custody relating to the controlled business of the insurer. (3) Nothing contained in sub-sections (3), (5) and (6) of section 3 shall apply to any insurer the management of whose controlled business has been taken over by the Custodian, but the Central Government may issue such directions to the Custodian as to his powers and duties as it deems desirable in the circumstances of the case, and the Custodian may apply to the Central Government at any time for instructions as to the manner in which he shall conduct, the management of the controlled business of the insurer or in relation to any matter arising in the course of such management. (4) The Custodian shall receive such remuneration as the Central Government may fix; and the Central Government may at any time cancel the appointment of any person as Custodian and appoint some other person in his stead.

Life Insurance (Emergency Provisions) Act, 1956 [Repealed] Section 7

Title: Compensation for Management of Controlled Business Vesting in Central Government

State: Central

Year: 1956

The amount of compensation payable in respect of the vesting in the Central Government of the management of the controlled business of an insurer shall, for every month during which the management thereof remains vested in the Central Government, be a sum which is equivalent to one-twelfth of the annual average of the share of the surplus allocated to shareholders as disclosed in the abstracts prepared in accordance with Part II of the Fourth Schedule to the Insurance Act in respect of the last two actuarial investigations relating to the controlled business as at dates earlier than the first day of January, 1956: Provided that, if in respect of the controlled business of an insurer no such surplus as is referred to in this sub-section has been allocated to shareholders either because there are no shareholders or for any other reason, the compensation shall be payable at the rate of on rupee per month for every two thousand rupees or part thereof of the premium income of the insurer relating to his controlled business during the year 1954.

Life Insurance Corporation Act, 1956 Section 9

Title: General Effect of Vesting of Controlled Business

State: Central

Year: 1956

.....before the appointed day and to which an insurer whose controlled business has been transferred to and vested in the Corporation is a party or which are in favour of such insurer shall in so far as they relate to the controlled business of the insurer be of as full force and affect against or in favour of the Corporation, as the case may be, and may be enforced or acted upon as fully and effectually as if, instead of the insurer, the Corporation had been a party thereto or as if they had been entered into or issued in favour of the Corporation. (2) If on the appointed day any suit, appeal or other legal proceeding of whatever nature is pending by or against an insurer, then, in so far as it relates to his controlled business, it shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer to the Corporation of the business of the insurer or anything done under this Act, but the suit, appeal or other proceeding may be continued prosecuted and enforced by or against the Corporation.

Life Insurance Corporation Act, 1956 Section 16

Title: Compensation for Acquisition of Controlled Business

State: Central

Year: 1956

(1) Where the controlled business of an insurer has been transferred to and vested in the Corporation under this Act, compensation shall be given by the Corporation to that insurer in accordance with the principles contained in the First Schedule. (2) The amount of the compensation to be given in accordance with the aforesaid principles shall be determined by the Corporation in the first instance, and if the amount so determined is approved by the Central Government it shall be offered to the insurer in full satisfaction of the compensation payable to him under this Act, and if, on the other hand, the amount so offered is not acceptable to the insurer he may within such time as may be prescribed for the purpose have the matter referred to the Tribunal for decision.

Life Insurance Corporation Act, 1956 Chapter 4

Title: Transfer of Existing Life Insurance Business to the Corporation

State: Central

Year: 1956

.....before the appointed day. Section 9 - General effect of vesting of controlled business (1) Unless otherwise expressly provided by or under this Act, all contracts, agreements and other instruments of whatever nature subsisting or having effect immediately before the appointed day and to which an insurer whose controlled business has been transferred to and vested in the Corporation is a party or which are in favour of such insurer shall in so far as they relate to the controlled business of the insurer be of as full force and affect against or in favour of the Corporation, as the case may be, and may be enforced or acted upon as fully and effectually as if, instead of the insurer, the Corporation had been a party thereto or as if they had been entered into or issued in favour of the Corporation. (2) If on the appointed day any suit, appeal or other legal proceeding of whatever nature is pending by or against an insurer, then, in so far as it relates to his controlled business, it shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer to the Corporation of the business of the insurer or anything done under this Act, but the suit,.....

Delhi and Ajmer Rent Control Act, 1952 [Repealed] Repealing Act 1

Title: Delhi Rent Control Act, 1958

State: Central

Year: 1952

.....payment of any sum exceeding one month's rent of such premises as rent in advance. (3) It shall not be lawful for the tenant or any other person acting or purporting to act on behalf of the tenant or a sub-tenant to claim or receive any payment in consideration of the relinquishment, transfer or assignment of his tenancy or sub-tenancy, as the case may be, of any premises. (4) Nothing in this section shall apply-- (a) to any payment made in pursuance of an agreement entered into before the 1st day of January, 1939; or (b) to any payment made under an agreement by any person to a landlord for the purpose of financing the construction of the whole or part of any premises on the land belonging to, or taken on lease by, the landlord, if one of the conditions of the agreement is that the landlord is to let to that person the whole or part of the premises when completed for the use of that person or any member of his family: Provided that such payment does not exceed the amount of agreed rent for a period of five years of the whole or part of the premises to be let to such person. Explanation. --For the purposes of clause (b) of this sub-section, a "member of the family".....

Bombay Forward Contracts Control Act, 1947 Complete Act

State: Maharashtra

Year: 1947

BOMBAY FORWARD CONTRACTS CONTROL ACT, 1947 BOMBAY FORWARD CONTRACTS CONTROL ACT, 1947 [64 of 1947] ( For Statement of Object and Reasons see Bombay Government Gazette, 1947, Part V, p. 274; for Report of the Select Committee, see ibid., p. 503; for Proceedings in Assembly, see Bombay Legislative Assembly Debates, 1947, Vol. XI; and for Proceedings in Council, see Bombay Legislative Council Debates, 1947, Vol. XIII.) [7th February, 1948] An Act to provide for the regulation and control of forward contracts, for prohibition of options and for certain other purposes in the Province of Bombay. WHEREAS it is expedient to regulate and control forward contracts, to prohibit options and to provide for certain other purposes hereinafter appearing; It is hereby enacted as follows:- 1. Short title, extent and commencement :- (1) This Act may be called the Bombay Forward Contracts Control Act, 1947. (2) This section shall come into force at once. (3) The Provincial Government may by notification in the Official Gazette direct that all the remaining sections other than Sections 4, 5 and 7 shall come into force in the whole of the Province of Bombay or such part.....

Air (Prevention and Control of Pollution) Act, 1981 Chapter II

Title: Central and State Boards for the Prevention and Control of Air Pollution

State: Central

Year: 1981

.....under sub-section (1) shall be entitled to receive such fees and allowances as may be prescribed. Section 13 - Vacancy in Board not to invalidate acts or proceedings No act or proceeding of a Board or any committee thereof shall Be called in question on the ground merely of the existence of any Vacancy in, or any defect in the constitution of, the Board or such committee, as the case may be. Section 14 - Member-secretary and officers and other employees of State Boards (1) The terms and conditions of service of the member-secretary of a State Board constituted under this Act shall be such as may be Prescribed. 1[(2) The member-secretary of a State Board, whether constituted Under this Act or not, shall exercise such powers and perform such duties as may be prescribed.] (3) Subject to such rules as may be made by the State Government in this behalf, a State Board, whether constituted under this Act or not, may appoint such officers and other employees as it considers necessary for the efficient performance of its functions under this Act. (4) The method of appointment, the conditions of service and the scales of pay of the officers (other than the member-secretary).....