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Start Free TrialPayment and Settlement Systems Act 2007 Section 19
Title: Directions of Reserve Bank to Be Complied with
State: Central
Year: 2007
Every person to whom a direction has been issued by the Reserve Bank under this Act shall comply with such direction without any delay and a report of compliance shall be furnished to the Reserve Bank within the time allowed by it.
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Section 17
Title: Power to Issue Direction
State: Central
Year: 2007
Where the Reserve Bank is of the opinion that, (a) a payment system or a system participant is engaging in, or is about to engage in, any act, omission or course of conduct that results, or is likely to result, in systemic risk being inadequately controlled; or (b) any action under clause (a) is likely to affect the payment system, the monetary policy or the credit policy of the country, the Reserve Bank may issue directions in writing to such payment system or system participant requiring it, within such time as the Reserve Bank may specify (i) to cease and desist from engaging in the act, omission or course of conduct or to ensure the system participants to cease and desist from the act, omission or course of conduct; or (ii) to perform such acts as may be necessary, in the opinion of the Reserve Bank, to remedy the situation.
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Section 18
Title: Power of Reserve Bank to Give Directions Generally
State: Central
Year: 2007
Without prejudice to the provisions of the foregoing, the Reserve Bank may, if it is satisfied that for the purpose of enabling it to regulate the payment systems or in the interest of management or operation of any of the payment systems or in public interest, it is necessary so to do, lay down policies relating to the regulation of payment systems including electronic, non-electronic, domestic and international payment systems affecting domestic transactions and give such directions in writing as it may consider necessary to system providers or the system participants or any other person either generally or to any such agency and in particular, pertaining to the conduct of business relating to payment systems.
View Complete Act List Judgments citing this sectionNational Capital Territory of Delhi Laws (Special Provisions) Act 2007 Section 5
Title: Power of Central Government to Give Directions
State: Central
Year: 2007
The Central Government may, from time to time, issue such directions to the local authorities as it may deem fit, for giving effect to the provisions of this Act and it shall be the duty of the local authorities to comply with such directions.
View Complete Act List Judgments citing this sectionFinance Act 2007 Chapter III
Title: Direct Taxes
State: Central
Year: 2007
.....the purposes of this clause, "commodity exchange" shall mean a "registered association" as defined in clause (jj) of section 2 of the Forward Contracts (Regulation) Act, 1952(74 of 1952);'; (g) in clause (23FB), with effect from the 1st day of April, 2008 -- (i) for the words "set up to raise funds for investment", the words "from investment" shall be substituted; (ii) in Explanation 1, for clause (c), the following clause shall be substituted, namely:-- '(c) "venture capital undertaking" means such domestic company whose shares are not listed in a recognised stock exchange in India and which is engaged in the-- (i) business of-- (A) nanotechnology; (B) information technology relating to hardware and software development; (C) seed research and development; (D) bio-technology; (E) research and development of new chemical entities in the pharmaceutical sector; (F) production of bio-fuels; (G) building and operating composite hotel-cum-convention centre with seating capacity of more than three thousand; or "(H) developing or operating and maintaining or developing, operating and maintaining any infrastructure facility as defined in the Explanation to.....
View Complete Act List Judgments citing this sectionWarehousing (Development and Regulation) Act 2007 Section 40
Title: Powers of Central Government to Issue Directions
State: Central
Year: 2007
(1) Without prejudice to the foregoing provisions of this Act, the Authority shall, in exercise of its powers and performance of its functions under this Act, be bound by such directions on questions of policy, other than those relating to technical and administrative matters, as the Central Government may give in writing to it from time to time: Provided that the Authority shall, as far as practicable, be given an opportunity to express its views before any direction is given under this sub-section. (2) The decision of the Central Government, whether a question is one of policy or not, shall be final.
View Complete Act List Judgments citing this sectionMaintenance and Welfare of Parents and Senior Citizens Act 2007 Section 30
Title: Power of Central Government to Give Directions
State: Central
Year: 2007
The Central Government may give directions to State Governments as to the carrying into execution of the provisions of this Act.
View Complete Act List Judgments citing this sectionSashastra Seema Bal Act 2007 Section 5
Title: Control, Direction, Etc.
State: Central
Year: 2007
(1) The general superintendence, direction and control of the Force shall vest in, and be exercised by, the Central Government and subject thereto and to the provisions of this Act and the rules made in this behalf, the command and supervision of the Force shall vest in an officer to be appointed by the Central Government as the Director-General of the Force. (2) The Director-General shall, in the discharge of his duties under this Act, be assisted by such number of Additional Directors-General, Inspectors-General, Deputy Inspectors-General, Additional Deputy Inspectors-General, Commandants and other officers, as may be appointed by the Central Government.
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Chapter VII
Title: Offences and Penalties
State: Central
Year: 2007
.....person in any court in respect of the contravention or default of the nature referred to in sub-section (2), or, as the case may be, sub-section (4) of section 26, then, no proceeding for the imposition of any penalty on the person shall be taken under this section. Section 31 - Power to compound offences (1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973(2 of 193), any offence punishable under this Act for any contravention, not being an offence punishable with imprisonment only, or with imprisonment and also with fine, may, on receipt of an application from the person committing such contravention either before or after the institution of any proceeding, be compounded by an officer of the Reserve Bank duly authorised by it in this behalf. (2) Where a contravention has been compounded under sub-section (1), no proceeding or further proceeding, as the case may be, shall be initiated or continued, as the case may be, against the person committing such contravention under that section, in respect of the contravention so compounded.
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Chapter IV
Title: Regulation and Supervision by the Reserve Bank
State: Central
Year: 2007
.....system at such intervals, in such form and in such manner, as the Reserve Bank may require from time to time or as may be prescribed and such order shall be complied with. Section 13 - Access to information The Reserve Bank shall have right to access any information relating to the operation of any payment system and system provider and all the system participants shall provide access to such information to the Reserve Bank. Section 14 - Power to enter and inspect Any officer of the Reserve Bank duly authorised by it in writing in this behalf, may for ensuing compliance with the provisions of this Act or any regulations, enter any premises where a payment system is being operated and may inspect any equipment, including any computer system or other documents situated at such premises and call upon any employee of such system provider or participant thereof or any other person working in such premises to furnish such information or documents as may be required by such officer. Section 15 - Information, etc., to be confidential (1) Subject to the provisions of sub-section (2), any document or information obtained by the Reserve Bank under sections 12 to 14 (both.....
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