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Start Free TrialFinance Act, 2002 Chapter III
Title: Direct Taxes
State: Central
Year: 2002
.....into with the Government of India. Explanation.--For the purposes of this clause,--(i) "agreement" includes any arrangement or understanding or action in concert,-- (A) whether or not such arrangement, understanding or action is formal or in writing; or (B) whether or not such arrangement, understanding or action is intended to be enforceable by legal proceedings; (ii) "service" means service of any description which is made available to potential users arid includes the provision of services in connection with business of any industrial or commercial nature such as accounting, banking, communication, conveying of news or information, advertising, entertainment, amusement, education, financing, insurance, chit funds, real estate, construction, transport, storage, processing, supply of electrical or other energy, boarding and lodging.'. Section 14 - Amendment of section 32 In section 32 of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2003,-- (a) in clause (ii).-- (i) in the second proviso, for the words, brackets and figures "or clause (ii)", at both the places where they occur, the words, brackets, figures and letter "or clause.....
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 43
Title: Penalty for Failure to Comply with Directions of Commission and Director General
State: Central
Year: 2002
.....powers referred to in sub-section (2) of section 41, such person shall be punishable with fine which may extend to rupees one lakh for each day during which such failure continues subject to a maximum of rupees one crore, as may be determined by the Commission.]] ___________________________________ 1. Substituted by the Competition (Amendment) Act, 2007 [Act No 39 of 2007]. Prior to substitution it read as: "43. Penalty for failure to comply with directions of Commission and Director General If any person fails to comply with a direction given by-- (a) the Commission under sub-section (5) of section 36; or (b) the Director General while exercising powers referred to in sub-section (2) of section 41, the Commission shall impose on such person a penalty of rupees one lakh for each day during which such failure continues." 2. Effective date:20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1241(E) dated 15.05.2009.
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 12
Title: Power of Reserve Bank to Determine Policy and Issue Directions
State: Central
Year: 2002
.....standards, making provisions for bad and doubtful debts, capital adequacy based on risk weights for assets and also relating to deployment of funds by the securitisation company or reconstruction company, as the case may be, and such company shall be bound to follow the policy so determined and the directions so issued. (2) Without prejudice to the generality of the power vested under sub-section (1), the Reserve Bank may give directions to any securitisation company or reconstruction company generally or to a class of securitisation companies or reconstruction companies or to any securitisation company or reconstruction company in particular as to-- (a) the type of financial asset of a bank or financial institution which can be acquired and procedure for acquisition of such assets and valuation thereof; (b) the aggregate value of financial assets which may be acquired by any securitisation company or reconstruction company.
View Complete Act List Judgments citing this sectionPrevention of Money-laundering Act, 2002 Section 52
Title: Power of Central Government to Issue Directions, Etc
State: Central
Year: 2002
The Central Government may, from time to time, issue such orders, instructions and directions to the authorities as it may deem fit for the proper administration of this Act and such authorities and all other persons employed in execution of this Act shall observe and follow such orders, instructions and directions of the Central Government: Provided that no such orders, instructions or directions shall be issued so as to-- (a) require any authority to decide a particular case in a particular manner; or (b) interfere with the discretion of the Adjudicating Authority in exercise of his functions.
View Complete Act List Judgments citing this sectionCompetition Act, 2002 Section 55
Title: Power of Central Government to Issue Directions
State: Central
Year: 2002
2[155. Power of Central Government to issue directions .-- (1) Without prejudice to the foregoing provisions of this Act, the Commission shall, in exercise of its powers or the 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 Commission 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.] _______________________ 1. Effective from 19.06.2003 by Notification No. SO 715 (E) Dated 19.06.2003. 2. Effective date:20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1241(E) dated 15.05.2009.
View Complete Act List Judgments citing this sectionMulti-state Co-operative Societies Act, 2002 Section 77
Title: Power of Central Government to Direct Special Audit in Certain Cases
State: Central
Year: 2002
.....in the order, shall be conducted and may by the same or a different order appoint either a chartered accountant as defined in clause (b) of sub-section (1) of section 2 of the Chartered Accountants Act, 1949(38 of 1949) or the multi-State co-operative society's auditor himself to conduct with special audit: Provided that the Central Government shall not order for special audit of a multi-State co-operative society's accounts if that Government or the State Government either by itself or both hold less than fifty-one per cent. of the paid-up share capital or of the shares in such multi-State co-operative society. (2) The chartered accountant or the multi-State co-operative society's auditor appointed under sub-section (1) to conduct a special audit as aforesaid is hereafter in this section referred to as the special auditor. (3) The special auditor shall have the same powers and duties in relation to the special audit as an auditor of a multi-State co-operative society has under section 73: Provided that the special auditor shall, instead of making his report to the members of the multi-State co-operative society, make the same to the Central Government. (4) The.....
View Complete Act List Judgments citing this sectionMulti-state Co-operative Societies Act, 2002 Section 122
Title: Central Governments Power to Give Directions to Specified Multi-state Co-operative Societies in Public Interest
State: Central
Year: 2002
If the Central Government is satisfied that in the public interest or for the purposes of securing proper implementation of co-operative production and other developmental programmes approved or undertaken by the Central Government or to secure proper management of the business of the specified multi-State co-operative societies generally or for preventing the affairs of such society being conducted in a manner detrimental to the interests of the members, any depositors or creditors thereof, it is necessary to issue directions to any class of specified multi-State co-operative societies generally or to any specified multi-State co-operative society or societies in particular, the Central Government may issue directions to it or to them, from time to time, and all such specified multi-State co-operative society or the societies concerned, as the case may be, shall be bound to comply with such directions.
View Complete Act List Judgments citing this sectionHampi World Heritage Area Management Authority Act, 2002 Section 23
Title: Directions by the Authority
State: Karnataka
Year: 2002
(1) The Authority may, in order to carry out the development plans and schemes formulated under section 11 or any town planning scheme issue directions to any local Authority, Urban development Authority concerned, Karnataka Urban Water Supply and Sewerage Board, Karnataka Power Transmission Corporation and such other bodies as are connected with developmental activities in the Heritage Area. (2) Notwithstanding anything contained in any other law for the time being in force, every such direction shall be complied with by the body to whom it is issued. On failure, it shall be competent for the Authority to take necessary action to carry out the directions issued under sub-section (1) and recover expenses, if any, incurred therefor from the body concerned.
View Complete Act List Judgments citing this sectionPrevention of Money-laundering Act, 2002 Chapter V
Title: Summons, Searches and Seizures, Etc
State: Central
Year: 2002
.....by him, and (iii) record the statement of any person present in the place which may be useful for, or relevant to, any proceeding under this Act. Section 17 - Search and seizure (1) Where 1[the Director or any other officer not below the rank of Deputy Director authorised by him for the purposes of this section], on the basis of information in his possession, has reason to believe (the reason for such belief to be recorded in writing) that any person--- (i) has committed any act which constitutes money-laundering, or (ii) is in possession of any proceeds of crime involved in money-laundering, or (iii) is in possession of any records relating to money-laundering, then, subject to the rules made in this behalf, he may authorise any officer subordinate to him to-- (a) enter and search any building, place, vessel, vehicle or aircraft where he has reason to suspect that such records or proceeds of crime are kept; (b) break open the lock of any door, box, locker, safe, almirah or other receptacle for exercising the powers conferred by clause (a) where the keys thereof are not available; (c) seize any record or property found as a result of such search; (d).....
View Complete Act List Judgments citing this sectionBiological Diversity Act, 2002 Section 48
Title: National Biodiversity Authority to Be Bound by the Directions Given by Central Government
State: Central
Year: 2002
1 48. National Biodiversity Authority to bebound by the directions given by Central Government.-- (1) Without prejudice to theforegoing provisions of this Act, the National Biodiversity Authority shall, in the discharge of itsfunctions and duties under this Act, be bound by such directions on questionsof policy as the Central Government may give in writing to it from time totime: Provided that the NationalBiodiversity Authority shall, asfar as practicable, be given opportunity to express its views before anydirection is given under this sub-section. (2) The decision of the CentralGovernment whether a question is one of policy or not shall be final. _____________________ 1. Effective from 01.10.2003
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