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Road Transport Corporations Act, 1950 Section 19

Title: Powers of Corporation

State: Central

Year: 1950

.....and concessional passes.] (2) Subject to the provisions of this Act, the powers conferred by sub-section (1) shall include power- (a) to manufacture, purchase, maintain and repair rolling stock, vehicles, appliances, plant, equipment or any other thing required for the purpose of any of the activities of the Corporation referred to in sub-section (1); Explanation.- In this clause, the expression "manufacture" does not include the construction of the complete unit of a motor vehicle except for purposes of experiment or research; (b) to acquire and hold such property, both movable and immovable, as the Corporation may deem necessary for the purpose of any of the aid activities, and to lease, sell or otherwise transfer any property held by it; (c) to prepare schemes for the acquisition of, and to acquire, either by agreement or compulsorily in accordance with the law of acquisition for the time being in force in the State concerned and with such procedure as may be prescribed, whether absolutely or for any period, the whole or any part of the undertaking of any other person to the extent to which the activities thereof consist of the operation of road transport.....

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Road Transport Corporations Act, 1950 Complete Act

Title: Road Transport Corporations Act, 1950

State: Central

Year: 1950

..... Section40 - Compensation for acquisition of road transport undertakings Section41 - Corporation to be deemed to be a local authority and provision as to third party risks (Omitted) Section42 - Power of entry Section43 - [Directors] [Officers and other employees] of a Corporation to be public servants Section44 - Power to make rules Section45 - Power to make regulations Section45A - Every rule and regulation to be laid before State Legislature Section46 - Penalty for breach of rules Section47 - Special provisos relating to Bombay Section47A - Special provision for reconstitution or dissolution of certain Corporations Section48 - Transitional provision relating to Bombay State Road Transport Corporation Chapter VI Section49 - Prosecution and cognisance of offences Section50 - Appointment of Magistrates Section51 - Composition of offences Section52 - Limitation of time for prosecution Section53 - Power of Magistrate to hear cases in absence of accused when summoned to appear

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Deposit Insurance Corporation (Amendment and Miscellaneous Provisions) Act, 1978 Section 4

Title: Merger of the Undertaking of the Company with the Undertaking of the Corporation

State: Central

Year: 1978

.....or the Credit Guarantee Corporation of India Limited is a party or which is in favour of either of them, shall he construed as a reference to the Deposit Insurance and Credit Guarantee Corporation. (2) The change of name of the Deposit Insurance Corporation, by virtue of the provisions of sub-section (1), shall not-- (a) affect any right or obligation of that Corporation, subsisting immediately before the commencement of the Deposit Insurance Corporation (Amendment find Miscellaneous Provisions) Act, 1978; (b) render defective any suit or other legal proceeding pending, immediately before such common cement by or against that Corporation in its former name; and (c) affect the institution or commencement of any suit or other legal proceeding which could have been instituted or commenced before such commencement, by or against the Corporation in its former name, and every such suit or legal proceeding may be instituted or commenced, after the commencement of this Act, by or against the re-named Corporation.

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State Financial Corporations Act, 1951 Complete Act

Title: State Financial Corporations Act, 1951

State: Central

Year: 1951

.....employees of the Financial Corporation Chapter III Section24 - General duty of the Board Section25 - Business which Financial Corporation may transact Section25A - Power to acquire rights Section25B - Gifts, grants etc. Section26 - Limit of accommodation Section27 - Power to impose conditions for accommodation Section28 - Prohibited business Section29 - Rights of Financial Corporation in case of default Section30 - Power to call for repayment before agreed period Section31 - Special provisions for enforcement of claims by Financial Corporation Section32 - Procedure of district judge in respect of applications under Section 31 Section32A - Power of Financial Corporation to appoint directors or administrators of an industrial concern when management is taken over Section32B - Effect of notified order under Section 32A Section32C - Powers and duties of directors and administrators Section32D - No right to compensation for termination of contract of managing agent, managing director, etc. Section32E - Application of Act 1 of 1956 Section32F - Restriction on tiling of suite for dissolution, etc., of an industrial concern not being a company when its management is.....

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Food Corporations Act, 1964 Complete Act

Title: Food Corporations Act, 1964

State: Central

Year: 1964

.....- Guarantee by Food Corporation Section31 - Funds of Food Corporation Section32 - Investment of funds Section33 - Allocation of surplus profits Section34 - Accounts and audit Section35 - Annual report on the working of Food Corporations Chapter VI Section36 - Vacancies, etc., not to invalidate acts or proceedings of Food Corporation, etc Section37 - Delegation Section38 - Declaration of fidelity and secrecy Section39 - Indemnity of directors Section40 - Protection of action taken under this Act Section41 - Offences Section42 - Provision relating to income-tax, super tax, etc Section43 - Winding up of Food Corporation Section44 - Power to make rules Section45 - Power of Food Corporation to make regulations Section46 - Validation ScheduleI - THE SCHEDULE Amending ActI - FOOD CORPORATIONS (AMENDMENT) ACT, 2001

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Industrial Finance Corporation (Transfer of Undertaking and Repeal) Act, 1993 Section 8

Title: Provisions in Respect of Officers and Other Employees of Corporation

State: Central

Year: 1993

..... (5) The trusts of the provident fund or the gratuity fund of the Corporation and any other bodies created for the welfare of officers or employees would continue to discharge their functions in the Company as was being done hitherto in the Corporation and any tax exemption granted to the provident fund or the gratuity fund would continue to be applied to the Company. (6) Notwithstanding anything contained in this Act or in the Companies Act, 1956 or in any other law for the time being in force or in the regulations of the Corporation, no Director of the Board, Chairman, Managing Director or any other person entitled to manage the whole or substantial part of the business and affairs of the Corporation shall be entitled to any compensation against the Corporation or the Company for the loss of office or for the premature termination of any contract of management entered into by him with the Corporation.

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Road Transport Corporations Act, 1950 Section 6

Title: Disqualification for Being Chosen As, or Being, a Member of a Corporation

State: Central

Year: 1950

.....as, or for being, a Director of a Corporation. (b) any officer or other employee of a Corporation for being chosen as, or for being, a Director of another Corporation.] ___________________ 1. Original section 6 was renumbered as sub-section (1) thereof by the Road Transport Corporations (Amdt.) Act, 1959 (28 of 1959), section 2 (1-9-1959). 2. Substituted for the words "member of a Corporation" by the Road Transport Corporation's (Amdt.) Act, 1982 (63 of 1982), section 4(a) (15-11-1982). 3. Inserted by the Road Transport Corporations (Amdt.) Act, 1959 (28 of 1959), section 2 (1-9-1959). 4. Substituted for the words "Chief Executive Officer or General Manager" by the Road Transport Corporations (Amdt.) Act, 1982 (63 of 1982), section 4(b) (15-11-1982). 5. Substituted for the word "member" by the Road Transport Corporations (Amdt.) Act, 1982 (63 of 1982), section 4(b) (15-11-1982). 6. Inserted by the Road Transport Corporations (Amdt.) Act, 1982 (63 of 1982), section 4(b) (15-11-1982), S.4(c) (15-11-1982).

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State Financial Corporations Act, 1951 Section 29

Title: Rights of Financial Corporation in Case of Default

State: Central

Year: 1951

.....had been made by the owner of the property. (3) The Financial Corporation shall have the same rights and powers with respect to goods manufactured or produced wholly or partly from goods forming part of the security held by it as it had with respect to the original goods, 6[(4)7[Where any action has been taken against an industrial concern] under the provisions of Sub-section (1), all costs,8[charges and expenses which in the opinion of the Financial Corporation have been properly incurred] by it9[as incidental thereto] shall be recoverable from the industrial concern and the money which is received by it10[* * *] shall, in the absence of any contract to the contrary, be held by it in trust to be applied firstly, in payment of such costs, charges and expenses and, secondly, in discharge of the debt due to the Financial Corporation, and the residue of the money so received shall be paid to the person entitled thereto.] (5)7[Where the Financial Corporation has taken any action against an industrial concern] under the provisions of Sub-section (1), the Financial Corporation shall be deemed to be the owner of such concern, for the purposes of suits by or against the.....

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Air Corporations Transfer of Undertakings and Repeal Act 1994 Section 8

Title: Provisions in Respect of Officers and Other Employees of Corporations

State: Central

Year: 1994

.....Scheme of the corporation and any other bodies created for the welfare of officers or employees would continue to discharge their functions in the company as was being done hitherto in the corporation. Tax exemption granted to Provident Fund or Pilots Group Insurance and Superannuation Scheme would continue to be applied to the company. (6) Notwithstanding anything contained in this Act or in the Companies Act, 1956 (1 of 1956) or in any other law for the time being in force or in the regulations of a corporation, no Director of the Board, Chairman, Managing Director or any other person entitled to manage the whole or a substantial part of the business and affairs of that corporation shall be entitled to any compensation against that corporation or against the company, as the case may be, for the loss of office or for the premature termination of any contract of management entered into by him with that corporation.

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National Thermal Power Corporation Limited, the National Hydroelectric Power Corporation Limited and the North-eastern Electric Power Corporation Limited (Acquisition and Transfr of Power Transmis Chapter III

Title: Delivery of Assets, Etc., to the Corporation

State: Central

Year: 1993

(1) Any person who has, on the date of commencement of this Act, in his possession or under his control, any assets, books and any other documents relating to the power transmission system which has been transferred to, and vested in, the Corporation under sub-section (2) of section 3 shall be liable to account for the said assets, books and documents to the Corporation and shall deliver them up to the Corporation or to such person or persons as the Corporation may specify in this behalf. (2) The Corporation may take or cause to be taken all necessary steps for securing possession of the power transmission system which has been transferred to, and vested in, the Corporation under this Act. (3) Each of the three companies shall, within such period as the Corporation may allow in this behalf, furnish to the Corporation a complete inventory of all its property and assets as on the appointed day pertained to its power transmission system which has been transferred to, and vested in, the Corporation under sub-section (2) of section 3.

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