Bare Act Search Results

Constitution of India Complete Act

State: Central

Year: 1949

.....of this Constitution if- (a) he or either of his parents or any of his grand- parents was born in India as defined in (Government of India Act, 1935) (as originally enacted); and (b) (i) in the case where such person has so migrated before the nineteenth day of July, 1948. he has been ordinarily resident in the territory of India since the date of his migration, or (ii) in the case where such person has so migrated on or after the nineteenth day of July, 1948, he has been registered as a citizen of India by an officer appointed in that behalf by the Government of the Dominion of India on an application made by him therefor to such officer before the commencement of this Constitution in the form and manner prescribed by that Government : Provided that no person shall be so registered unless he has been resident in the territory of India for at least six months immediately preceding the date of his application. ARTICLE 7: Rights of citizenship of certain migrants to Pakistan: Notwithstanding anything in (Art.5) and (Art.6), a person who has after the first day of March, 1947, migrated from the territory of India to the territory now included in Pakistan shall not be.....

Banking Regulation Act, 1949 Complete Act

State: Central

Year: 1949

.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....

Chartered Accountants Act, 1949 Chapter VIII

Title: Miscellaneous

State: Central

Year: 1949

.....of references.-- Any reference to a chartered accountant or a registered accountant or a certified or qualified auditor in any other law or in any document whatsoever shall be construed as a reference to a chartered accountant in practice within the meaning of this Act.] ________________________ 1. Substituted by the Chartered Accountants (Amendment) Act (15 of 1959) Section 25 (1-7-1959). Section 32 - Act not to affect right of accountants to practise as such in Part B States Nothing contained in this Act shall affect the right of any person who, at the commencement of this Act, is entitled to engage himself in the practice of accountancy in any1[Part B State] under any law in force in that State, to continue to engage himself in the practice of accountancy in that State after the commencement of this Act. ________________________ 1. Substituted for the words "Acceding State." by A.L.O., 1950. Section 33 - Amendment of Section 144, Indian Companies Act, 1913 [Repealed by the Repealing and Amending Act, 1952 (48 of 1952), S. 2 and Sch. I [2-8-1952].]

Chartered Accountants Act, 1949 Section 29

Title: Reciprocity

State: Central

Year: 1949

(1) Where any country, specified by the Central Government in this behalf by notification in the official Gazette, prevents persons of Indian domicile from becoming members of any institution similar to the Institute of Chartered Accountants of India or from practising the profession of accountancy or subjects them to unfair discrimination in that country, no subject of any such country shall be entitled to become a member of the Institute or practice the profession of accountancy in India. (2) Subject to the provisions of sub-section (1), the Council may prescribe the conditions, if any, subject to which foreign qualifications relating to accountancy shall be recognised for the purposes of entry in the Register.

Banking Regulation Act, 1949 Part 2

Title: Business of Banking Companies

State: Central

Year: 1949

.....of guarantee and indemnity business; (f) managing, selling andrealising any property which may come into the possession of the company insatisfaction or part satisfaction of any of its claims; (g) acquiring and holding andgenerally dealing with any property or any right, title or interest in any suchproperty which may form the security or part of the security for any loans or advancesor which may be connected with any such security; (h) undertaking and executingtrusts; (i) undertaking theadministration of estates as executor, trustee or otherwise; (j) establishing and supportingor aiding in the establishment and support of associations, institutions,funds, trusts and conveniences calculated to benefit employees or ex-employeesof the company or the dependents or connections of such persons; grantingpensions and allowances and making payments towards insurance; subscribing toor guaranteeing moneys for charitable or benevolent objects or for anyexhibition or for any public, general or useful object; (k) the acquisition,construction, maintenance and alteration of any building or works necessary orconvenient for the purposes of the company; (l) selling,.....

Banking Regulation Act, 1949 Section 22

Title: Licensing of Banking Companies

State: Central

Year: 1949

.....proposed principal area of operations ofthe company, the potential scope for expansion of banks already in existence inthe area and other relevant factors the grant of the licence would not beprejudicial to the operation and consolidation of the banking system consistentwith monetary stability and economic growth; (g) any other condition, thefulfilment of which would, in the opinion of the Reserve Bank, benecessary to ensure that the carrying on of banking business in India by thecompany will not be prejudicial to the public interest or the interests of thedepositors.] 7 [(3A) Before granting any licence under this section to acompany incorporated outside India, the Reserve Bank mayrequire to be satisfied by an inspection of the books of the company orotherwise that the conditions specified in sub-section (3) arefulfilled and that the carrying on of banking business by such company in Indiawill be in the public interest and that the Government or law of the country inwhich it is incorporated does not discriminate in any way against bankingcompanies registered in India and that the company complies with all theprovisions of this Act applicable to banking companies.....

Banking Regulation Act, 1949, (Maharashtra) Section 21A

Title: Rates of Interest Charged by Banking Companies Not to Be Subject to Scrutiny by Courts

State: Maharashtra

Year: 1949

.....Agriculturists Relief Act, 1938 Andhra Bank Ltd. v. Banu Narasamma (1988) 63 Comp. Cases 210 (AP). This section is a restraint on the power of the court to reopen any account maintained by the bank relating to transactions with its customers on the ground that the rate of interest charged is excessive or unreasonable. If it is proved that the interest charged on loans advanced is not in conformity with that prescribed by the Reserve Bank of India, the Court can disallow such excess interest rate and may grant relief to the party. Bank of India v. Karnam Ranga Rao. (1988) 64 Comp. Cases 477 (Kar.). _______________________ 1. Inserted by Act 1 of 1984 section 24 (w.e.f. 15.2.1984).

Chartered Accountants Act, 1949 Complete Act

State: Central

Year: 1949

.....Register; (d) the recognition of foreign qualifications and training for purposes of enrolment; (e) the granting or refusal of certificates of practice under this Act; (f) the maintenance and publication of a Register of persons qualified to practise chartered accountants; (g) the levy and collection of fees from members, examinees and other persons; (h) the removal of names from the Register and the restoration to the Register of names which have been removed; (i) the regulation, and maintenance of the status and standard of professional qualifications of members of the Institute; (j) the carrying out, by financial assistance to persons other than members of the Council or in any other manner, of research in accountancy; (k) the maintenance of a library and publication of books and periodicals relating to accountancy; and (l) the exercise of disciplinary powers conferred by this Act. SECTION 16: STAFF, REMUNERATION AND ALLOWANCES (1) For the efficient performance of its duties, the Council may- (a) appoint a Secretary who may also, if so decided by the Council, act as Treasurer; (b) appoint such other officers and servants as it deems necessary; (c) require and.....

The Assam Cooperative Societies Act, 1949 Complete Act

State: Assam

Year: 1949

.....and amend the law relating to Co-operative Societies in the Province of Assam. It is hereby enacted as follows: COMMENTS Preamble. This act has been enacted to facilitate the formation and working of Co-operative Societies and to consolidate and amend the law relating to the Co operative Societies in the State of Assam. There is a Central Act, viz., the Co-operative Societies Act, 1912, which amended the Co-operative Credit Societies Act, 1904. The Act of 1904 applies to Societies for the purpose of Co-operative Credit only and not to Co-operative Societies of other kinds. The Central Act has been repealed in its application to Assam and Nagaland by the present Assam Act 1 of 1950. The policy of the Co-operative Societies Act is to save the person concerned from protractive, expensive and sometimes ruinous litigation of the civil courts and its object is to encourage, help and bring co-operation among the persons having limited means. The object of the Co-operative Societies is also to create the quality of credit-worthiness among agriculturists, artisans and other persons with common economic needs so as to bring about a higher standard of living, better business,.....