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Finance Act, 1989 Preamble 1

Title: Finance Act, 1989

State: Central

Year: 1989

THE FINANCE ACT, 1989 [Act, No. 13 of 1989] (Extract Relevant To Direct Taxes) [12th May, 1989] PREAMBLE An Act to give effect to the financial proposals of the Central Government for the financial year 1989-90 BE it enacted by Parliament in the Fortieth Year of the Republic of India as follows :-

Small Industries Developement Bank of India Act, 1989 Chapter V

Title: Small Industries Development Assistance Fund

State: Central

Year: 1989

.....Assistance Fund shall be credited. (a) all amounts received for the purpose of that Fund by way of loans, gifts, grants, donations, benefactions or otherwise from Government or any other source; (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 23. Section 23 - Utilisation of Small Industries Development Assistance Fund The Small Industries Bank may disburse or spend from the Small Industries Development Assistance Fund, any amount for such purposes as the Central Government may, on the recommendation of the1[Board], specify. ________________________ 1. Substituted by Act 7 of 2000, sec. 14, for "Development Bank" (w.e.f. 27-3-2000). Section 24 - Debits to Small Industries Development Assistance Fund (1) To the Small Industries Development Assistance Fund shall be debited- (a) such amounts as may from time to time be disbursed or spend under section 23; (b) such amounts.....

Assam University Act, 1989 Complete Act

State: Central

Year: 1989

.....taken upon the result of such inspection or inquiry. (10) Where, the Executive Council or the management, does not, within a reasonable time, take action to the satisfaction of the Visitor, the Visitor may, after considering any explanation furnished or representation made by the Executive Council or the management, issue such directions as he may think fit and the Executive Council or the management, as the case may be, shall comply with such directions. (11) Without prejuice to the foregoing provisions of this section, the Visitor may.. by order in writing, annul any proceeding of the University which is not in conformity with the Act the Statutes or the Ordinances : Provided that before making any such order, he shall call upon the Registrar to show cause why such an order should not be made, and, if any cause is shown within a reasonable time, he shall consider the same. (12) The Visitor shall have such other powers as may be prescribed by the Statutes. SECTION 09: THE CHIEF RECTOR The Governor of the State of Assam shall be the Chief Rector of the University. SECTION 10: OFFICERS OF THE UNIVERSITY The following shall be the officers of the University :- (1) the.....

Railways Act, 1989 Complete Act

Title: Railways Act, 1989

State: Central

Year: 1989

.....of Vice-Chairman and other Members Section4D - Functions of Authority Section4E - Powers of Authority to enter into agreements and execute contracts Section4F - Procedure of transaction of business of Authority Section4G - Appointment of officers and other employees of Authority Section4H - Salaries, allowances, etc., to be defrayed out of Consolidated Fund of India Section4I - Power of Authority to make regulations Chapter 3 Section5 - Appointment of Chief Commissioner of Railway Safety and Commissioners of Railway Safety Section6 - Duties of Commissioner Section7 - Powers of Commissioner Section8 - Commissioner to be public servant Section9 - Facilities to be afforded to Commissioners Section10 - Annual report of Commissioners Chapter 4 Section11 - Power of railway administrations to execute all necessary works Section12 - Power to alter the position of pipe, electric supply line, drain or sewer, etc. Section13 - Protection for Government Property Section14 - Temporary entry upon land to remove obstruction, to repair or to prevent accident Section15 - Payment of amount for damage or loss Section16 - Accommodation works Section17 - Power of owner, occupier,.....

Small Industries Developement Bank of India Act, 1989 Section 51

Title: Liquidation of Small Industries Bank

State: Central

Year: 1989

No provision of law relating to the winding up of companies or corporations shall apply to the Small Industries Bank and that Bank shall not be placed in liquidation save by order of the Central Government and in such manner as it may direct.

Small Industries Developement Bank of India Act, 1989 Section 41

Title: Special Provisions for Enforcement of Claims by Small Industries Bank

State: Central

Year: 1989

.....advance under section 40 and such industrial concern fails to make such repayment, then, without prejudice to the provisions of section 38 of this Act and section 69 of the Transfer of Property Act, 1882 (4 of 1882), any officer of that Bank, generally or specially authorised by that Bank in this behalf, may apply to the court for one or more of the following reliefs, namely:-- (a) for an order for the sale of the property assigned, charged, hypothecated, mortgaged or pledged to that Bank as security for the loan or advance; or (b) for enforcing the liability of any surety; or (c) for an ad interim injunction restraining the industrial concern in the small-scale sector from transferring or removing its machinery, plant or equipment from the premises of such industrial concern without the permission of the Small Industries Bank, where such transfer or removal is apprehended. (2) An application under sub-section (1) shall state the nature and extent of the liability of the industrial concern in the small-scale sector to the Small Industries Bank, the ground on which it is made and such other particulars as may be necessary for obtaining the relief prayed for. (3) Where.....

Small Industries Developement Bank of India Act, 1989 Chapter VIII

Title: Miscellaneous

State: Central

Year: 1989

.....2. The words "or the Development Bank" omitted by Act 7 of 2000, sec. 21 (w.e.f. 27-3-2000). Section 37 - Defects in appointment not to invalidate acts etc. (1) No act or proceeding of the Board or of any committee of the Small Industries Bank shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of, the Board or the committee, as the case may be. (2) No act done by any person acting in good faith as a Director shall be deemed to be invalid merely on the ground that he was disqualified to be a Director or that there was any other defect in his appointment, Section 37A - Amounts and securities to be held in trust 1[37A. Amounts and securities to be held in trust (1) Any sums received by a borrowing institution in repayment or realisation of loans and advances refinanced either wholly or partly by the Small Industries Bank shall, to the extent of the accommodation granted by the Small Industries Bank and remaining outstanding, be deemed to have been received by the borrowing institution in trust for the Small Industries Bank, and shall accordingly be paid by such institution to the Small Industries Bank, as per the.....

Small Industries Developement Bank of India Act, 1989 Section 32

Title: Transfer of Part of Business of Development Bank

State: Central

Year: 1989

.....of the Development Bank be continued, prosecuted and enforced by or against the Development Bank and the Small Industries Bank or, if the Central Government by order in writing so directs, by or against such one of them, as may be specified in such order. (5) If any question arises as to whether any contract, deed, bond, agreement, power of attorney, grant of legal representation or other instrument referred to in sub-section (3) or any suit, appeal or other legal proceeding referred to in sub-section (4) relates or relate exclusively to the Funds it shall be referred to the Development Bank for decision and the decision of the Development Bank thereon shall be final. (6) The provisions of this section shall have effect notwithstanding anything contained in the Industrial Development Bank of India Act, 1964 (18 of 1964), or any other law or any instrument having force by virtue of the said Act or other law. ________________________ 1. Vide S.O. 196 (E), dated 7th march, 1990, Published in the Gazette of India, Extra., Pt. II, Sec. 3 (ii), dated 7th March, 1990.

Small Industries Developement Bank of India Act, 1989 Chapter VII

Title: Transfer of Part of Business of Development Bank

State: Central

Year: 1989

.....of the Development Bank be continued, prosecuted and enforced by or against the Development Bank and the Small Industries Bank or, if the Central Government by order in writing so directs, by or against such one of them, as may be specified in such order. (5) If any question arises as to whether any contract, deed, bond, agreement, power of attorney, grant of legal representation or other instrument referred to in sub-section (3) or any suit, appeal or other legal proceeding referred to in sub-section (4) relates or relate exclusively to the Funds it shall be referred to the Development Bank for decision and the decision of the Development Bank thereon shall be final. (6) The provisions of this section shall have effect notwithstanding anything contained in the Industrial Development Bank of India Act, 1964 (18 of 1964), or any other law or any instrument having force by virtue of the said Act or other law. ________________________ 1. Vide S.O. 196 (E), dated 7th march, 1990, Published in the Gazette of India, Extra., Pt. II, Sec. 3 (ii), dated 7th March, 1990.

Small Industries Developement Bank of India Act, 1989 Section 26

Title: Liquidation of Small Industries Development Assistance Fund

State: Central

Year: 1989

The Small Industries Development Assistance Fund shall not be closed or wound up save by order of the Central Government and in such manner as that Government may,1[***| direct. ________________________ 1. The words "on the recommendation of the Development Bank," omitted by Act 7 of 2000, sec. 16 (w.e.f. 27-3-2000).