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Start Free TrialGeneral Insurance Business (Nationalisation) Act,1972 Chapter II
Title: Transfer to Public Ownership of Genral Insurance Business
State: Central
Year: 1972
.....Government to the concerned Indian insurance company, who shall, on receipt of such copy, and notwithstanding anything contained in the Companies Act or in its articles of association, forthwith rectify its register of members by including therein the persons mentioned in the notification as the holders of the shares specified therein. (5) For the removal of doubts it is hereby declared that the transfer and vesting of shares effected under sub-section (1) shall not be deemed to affect any right of the Indian insurance company subsisting immediately before the appointed day against any shareholder to recover from him any sum of money on the ground that that shareholder has not paid or credited to the insurer the whole or any part of the value of the shares held by him or on any other ground whatsoever. Section 5 - Transfer of undertakings of other existing insurers (1) On the appointed day, the undertaking of every existing insurer who is not an Indian insurance company shall stand transferred to and vested in the Central Government and the Central Government shall immediately thereafter provide, by notification, for the transfer to and vesting in such Indian insurance.....
View Complete Act List Judgments citing this sectionBritish Statutes (Application to India) Repeal Act, 1960 Preamble 1
Title: The British Statutes (Application to India) Repeal Act, 1960
State: Central
Year: 1960
THE BRITISH STATUTES (APPLICATION TO INDIA) REPEAL ACT, 1960 [Act, No. 57 of 1960] [26th December, 1960] PREAMBLE An Act to repeal certain British statutes in their application of India. BE it enacted by Parliament in the Eleventh Year of the Republic of India as follows:-
View Complete Act List Judgments citing this sectionIndian Contract Act, 1872 Section 211
Title: Agents Duty in Conducting Principals Business
State: Central
Year: 1872
An agent is bound to conduct the business of his principal according to the directions given by the principal, or in the absence of any such directions according to the custom which prevails in doing business of the same kind at the place where the agent conducts such business. When the agent acts otherwise, if any loss be sustained, he must make it good to his principal, and, if any profit accrues, he must account for it. Illustration (a) A, an agent engaged in carrying on for B a business, in which it is the custom to invest from time to time, at interest, the moneys which may be in hand, on its to make such investment. A must make good to B the interest usually obtained by such investments. (b) B, a broker, in whose business it is not the custom to sell on credit, sells goods of A on credit to C, whose credit at the time was very high. C, before payment, becomes insolvent. B must make good the loss to A.
View Complete Act List Judgments citing this sectionBritish Statutes (Application to India) Repeal Act, 1960 Complete Act
Title: British Statutes (Application to India) Repeal Act, 1960
State: Central
Year: 1960
Preamble1 - THE BRITISH STATUTES (APPLICATION TO INDIA) REPEAL ACT, 1960 Section1 - Short title Section2 - Repeal of certain British statutes in their application to India Section3 - Savings Schedule1 - SCHEDULE
List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Chapter V
Title: Scheme for Reorganisation of General Insurance Business
State: Central
Year: 1972
.....power to frame such scheme with retrospective effect from adate not earlier than the appointed date.] _________________________ 1.Inserted by Act 3 of 1985, section 3 (w.r.e.f. 17-9-1984). Section 17 - Laying of schemes and notifications before Parliament 1[17. Laying of schemes and notifications before Parliament Every scheme framed under sub-section (1) of section 16 and every notification issued under sub-section (3) of that section shall be laid, as soon as may be after it is framed or issued, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the scheme or notification or both Houses agree that the scheme or notification should not be framed or issued, the scheme or notification shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously.....
View Complete Act List Judgments citing this sectionBritish Statutes (Repeal) Act, 2004 Preamble 1
Title: British Statutes (Repeal) Act, 2004
State: Central
Year: 2004
The British Statutes (Repeal) Act, 2004 [Act, No.17 of 2004] [20th February, 2004] PREAMBLE An Act to repeal the British Law Ascertainment Act, 1859, the Foreign Law Ascertainment Act, 1861, the Colonial Probates Act, 1892, in so far as they apply to India, and the India (Consequential Provision) Act, 1949. be it enacted by Parliament in the Fifty-fifth Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionBritish Statutes (Repeal) Act, 2004 Complete Act
Title: British Statutes (Repeal) Act, 2004
State: Central
Year: 2004
Preamble1 - British Statutes (Repeal) Act, 2004 Section1 - Short title Section2 - Definition Section3 - Repeal
List Judgments citing this sectionKarnataka Money-lenders Act, 1961 Section 18
Title: Persons Debarred from Doing Business During Period of Suspension or Cancellation of Licence
State: Karnataka
Year: 1961
A person whose licence has been suspended or cancelled in accordance with the provisions of this Act shall not during the period of suspension or cancellation, as the case may be, carry on the business of money-lending in the State.
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Amending Act 1
Title: General Insurance Business (Nationalisation) Amendment Act, 2002
State: Central
Year: 1972
..... Amending Act 1 - GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 GENERAL INSURANCE BUSINESS (NATIONALISATION) AMENDMENT ACT, 2002 [Act No. 40 of 2002] Preamble An Act further to amend the General Insurance Business (Nationalisation) Act, 1972 BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :-- 1. Short title and commencement (1) This Act maybe called the General Insurance Business (Nationalisation) Amendment Act,2002. (2) It shallcome into force on such date1 as the Central Government may, bynotification in the Official Gazette, appoint. ______________________ 1. Dateappointed is 21.03.2003 by Notification No. SO 329(E) dated 21.03.2003 2. Amendment of section 9 In section 9 ofthe General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)(hereinafter referred to as the principal Act),-- (a) insub-section (1), the following proviso shall be inserted, namely :-- 'Provided thaton and from the commencement of the General Insurance Business (Nationalisation)Amendment Act, 2002, the provisions of this sub-section shall have effect as iffor the words "superintending, controlling and.....
View Complete Act List Judgments citing this sectionGeneral Insurance Business (Nationalisation) Act,1972 Preamble 1
Title: General Insurance Business (Nationalisation) Act, 1972
State: Central
Year: 1972
THE GENERAL INSURANCE BUSINESS (NATIONALISATION) ACT, 1972 [Act, No. 57 of 1972] [20th September, 1972] PREAMBLE An Act to provide for the acquisition and transfer of shares of Indian Insurance companies and undertakings of other existing insurers in order to serve better the needs of the economy by securing the development of general insurance business in the best interests of the community and to ensure that the operation of the economic system does not result in the concentration of wealth to the common detriment, for the regulation and control of such business and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twenty-third Year of the Republic of India as follows:--
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