Bare Act Search Results

Export-import Bank of India Act, 1981 Complete Act

Title: Export-import Bank of India Act, 1981

State: Central

Year: 1981

..... Section25 - Saving Chapter 8 Section26 - Transfer of part of business of Development Bank Chapter 9 Section27 - Staff of Exim Bank.- Section28 - Delegation of powers Section29 - Returns Section30 - Obligation as to fidelity and secrecy Section31 - Defects in appointments not to invalidate acts, etc Section32 - Arrangement with Exim Bank on appointment of directors to prevail Section33 - Indemnity of directors Section34 - Protection of action taken in good faith Section35 - Act 18 of 1891 to apply in relation to Exim Bank Section36 - Section 34A and section 36AD only of Act 10 of 1949 to apply to Exim Bank Section37 - Act 43 of 1961 and Act 7 of 1964 not to apply to Exim Bank Section38 - Liquidation of Exim Bank Section39 - Power to make regulations Section40 - Amendment of certain enactments Section41 - Power to remove difficulty Schedule - FIRST SCHEDULE Schedule - SECOND SCHEDULE Amending Act1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006

Export Import Bank of India Act, 1981 Complete Act

State: Central

Year: 1981

.....it enacted by Parliament in the Thirty-second Year of the Republic of India as follows:- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Export-Import Bank of India Act, 1981. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in the Office of this Act in the Official Gazette, appoint, and different dates may be appointed for different provisions SECTION 02: DEFINITIONS. In this Act, unless the context otherwise requires,- (a) "Board" means the Board of Directors of Exim Bank referred to in S. 6; (b) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964- (c) "Exim Bank" means the Export-Import Bank of India established under section 3-; (d) "export" and "import" mean, respectively, export from or import into India or any other country of goods or services, or both; (e) "goods" includes all materials, commodities and articles in a solid, liquid or gaseous state and all forms of energy; (f) "notification" means a notification published in the Official Gazette; (g) "prescribed" means.....

Export-import Bank of India Act, 1981 Chapter 4

Title: Business of the Exim Bank

State: Central

Year: 1981

.....as agent of the Central Government, any State Government, the Reserve Bank, the Development Bank or any other person as the Central Government may authorise; (v) collecting, compiling and disseminating market and credit information in respect of international trade; (w) doing any other kind of business which the Central Government may authorise; (x) generally doing such other acts and things as may be incidental to, or consequential upon, the exercise of its powers or the discharge of its duties under this Act or any other law for the time being in force, including sale or transfer of any of its assets. (3) The Exim Bank may receive in consideration of any of the services mentioned in sub-sections (1) and (2) such commission, brokerage, interest, remuneration of fees as may be agreed upon. (4) The Exim Bank shall not grant any loan or advance or other financial accommodation on the security of its own bonds or debentures.

Export-import Bank of India Act, 1981 Section 10

Title: Business of Exim Bank

State: Central

Year: 1981

.....as agent of the Central Government, any State Government, the Reserve Bank, the Development Bank or any other person as the Central Government may authorise; (v) collecting, compiling and disseminating market and credit information in respect of international trade; (w) doing any other kind of business which the Central Government may authorise; (x) generally doing such other acts and things as may be incidental to, or consequential upon, the exercise of its powers or the discharge of its duties under this Act or any other law for the time being in force, including sale or transfer of any of its assets. (3) The Exim Bank may receive in consideration of any of the services mentioned in sub-sections (1) and (2) such commission, brokerage, interest, remuneration of fees as may be agreed upon. (4) The Exim Bank shall not grant any loan or advance or other financial accommodation on the security of its own bonds or debentures.

Export-import Bank of India Act, 1981 Chapter 6

Title: Export Development Fund

State: Central

Year: 1981

.....Export Development Fund shall be credited- (a) all amounts received for the purposes of that Fund by way of loans, gifts, grants, donations or benefactions from Government or any other source in or outside India; (b) repayments or recoveries in respect of loans, advances or other facilities granted from the Fund; (c) income or profits from investments made from the Fund; and (d) income accruing or arising to the Fund by way of interest or otherwise, on account of the application of the Fund in accordance with the provisions of section 17. Section 17 - Utilisation of Export Development Fund (1) Where the Exim Bank considers it necessary or desirable so to do, it may, subject to the provisions of sub-sections (2) and (3), disburse or spend from the Export Development Fund any amount an account or in consequence of the grant of any loan or advance, or on account or in consequence of entering into any arranagement under sub-section (1) or clause (b) or clause (c) or clause (d) or clause (q) or clause (r) or clause (s) or clause (w) or clause (x) of sub-s. (2) of section 10: Provided that before granting any such loan or advance or entering into any such arrangement, the.....

Export-import Bank of India Act, 1981 Section 17

Title: Utilisation of Export Development Fund

State: Central

Year: 1981

.....ordinary course of business. (3) The Central Government shall, before giving its approval, satisfy itself that such loan, advance or arrangement is necessary as a matter of priority in the interests of the international trade of the country. (4) For the removal of doubts, it is hereby declared that nothing contained in this section shall be deemed to preclude the Exim Bank from granting any loan or advance or from entering into any arrangement under sub-s. (1) or clause (b) or clause (c) or clause (d) or clause (q) or clause (r) or cl. (s) or clause (w) or clause (x) of sub-section (2) of section 10 without the approval of the Central Government, if no amount in respect thereof is to be disbursed or spent from the Export Development Fund.

Export-import Bank of India Act, 1981 Section 19

Title: Accounts and Audit of Export Development Fund

State: Central

Year: 1981

.....or accounts in respect of the concerned years.] (3) The Export Development Fund shall be audited by one or more auditors appointed by the Central Government under section 24 who shall make a separate report thereon. (4) The provisions of sub-sections (2), (3), (4) and (6) of section 24 shall, so far as may be, apply in relation to the audit of the Export Development Fund. (5) The Exim Bank shall furnish to the Central Government, within four months from the date on which the accounts of the Export Development Fund are closed and balanced, a copy of the balance-sheet and accounts together with a copy of the auditors' report and a report on the operation of the Fund during the relevant year and the Central Government shall, as soon as may be after they are received by it, cause the same to be laid before each House of Parliament. ________________________ 1. Inserted by Banking, Public Financial Institutions and Negotiable Instruments (Amendment) Act, (66 of 1988), S. 40 (30-12-88). 2. 31st March in each year is the due date specified for purposes of S. 19(2)

Export-import Bank of India Act, 1981 Preamble 1

Title: The Export-import Bank of India Act, 1981

State: Central

Year: 1981

THE EXPORT-IMPORT BANK OF INDIA ACT, 1981 [Act, No. 28 of 1981] [11th September, 1981] PREAMBLE An Act to establish a corporation to be known as the Export-Import Bank of India for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for co-ordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country's international trade and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Thirty-second Year of the Republic of India as follows:-

Export-import Bank of India Act, 1981 Chapter 2

Title: Establishment of the Export-import Bank of India and Incorporation Thereof

State: Central

Year: 1981

.....Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue or be sued. (3) The head office of the Exim Bank shall be at Bombay or at such other place as the Central Government may, by notification, specify. (4) The Exim Bank may establish offices, branches or agencies at such places in or outside India as it may consider necessary. Section 4 - Authorised capital 1 [(1) The authorized capital of exim bank shall be one thousand crores of rupees; Provided that the Central Government may be notification, increase the said capital up to two thousand crores of rupees] Provided that the Central Government may, by notification, increase the said capital up to five thousand crores of rupees. (2) The issued capital of the Exim Bank shall be wholly subscribed by the Central Government. ___________________________ 1. Substituted by the Export-Import Bank of India (Amdt.) Act, 1998 w.e.f. 02-01-1999. Prior to Substitution it read as under "The Authorised capital of the Exim Bank shall be two.....

Export-import Bank of India Act, 1981 Section 18

Title: Debits to Export Development Fund

State: Central

Year: 1981

(1) To the Export Development Fund shall be debited -- (a) such amounts as may from time to time be disbursed or spent under sub-section (1) of section 17; (b) such amounts as may be required for discharging the liabilities in respect of loans received for the purposes of that Fund; (c) any loss arising on account of investment made out of that Fund; and (d) such expenditure arising out of, or in connection with, the administration and application of the Fund as may be determined by the Board. (2) No amount shall be debited to the Export Development Fund except as provided for in sub-section (1).