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National Bank for Agriculture and Rural Development Act, 1981 Section 38C

Title: Exemption from Compulsory Registration

State: Central

Year: 1981

1[38C. Exemption from compulsory registration. -- Notwithstanding anything contained in sub-section (l) of section 17 of the Registration Act, 1908 (16 of 1908)-- (a) any instrument in the form of debt obligations or trust certificate of beneficial interest or any other instrument, by whatsoever name called, issued by the National Bank or the trust created by it to securitise the loans granted by it and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property; or (b) any transfer of such instruments referred to in clause (a), sna'' not require compulsory registration.] ________________________ 1. Inserted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000)

National Bank for Agriculture and Rural Development Act, 1981 Chapter VII

Title: Other Functions of the National Bank

State: Central

Year: 1981

.....Section 38C - Exemption from compulsory registration 1[38C. Exemption from compulsory registration. -- Notwithstanding anything contained in sub-section (l) of section 17 of the Registration Act, 1908 (16 of 1908)-- (a) any instrument in the form of debt obligations or trust certificate of beneficial interest or any other instrument, by whatsoever name called, issued by the National Bank or the trust created by it to securitise the loans granted by it and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property; or (b) any transfer of such instruments referred to in clause (a), sna'' not require compulsory registration.] ________________________ 1. Inserted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000) Section 39 - Incidental powers The National Bank may also do all such things as may be necessary or incidental to or consequential upon the exercise of its powers, discharge of its functions and the performance of its duties, under this Act, or under any other law for the time being in force. Section 40 - Deposits and investments 1[40. Deposits and.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 6

Title: General Affect of Vesting

State: Central

Year: 1981

.....in relation to the undertakings in India of a specified company which have been transferred to, and vested in the central government under section 5.is pending by or against that specified company , the same shall not abate ,be discontinued or be in any way prejudicially affected by reason or of anything contained in this Act but the suit appeal or other proceeding may be continued ,prosecuted and enforced by or against the central government . (6). The promotion agreement and supplement agreement entered into on the 14th day January , 1958 and the 16 th day of February , 1959.respectively , to which the central government , the Burmah Oil Company and the Assam Oil Company Limited were parties and the adopting agreement and the second supplemental agreement entered into on 14 th day of march . 1959 and the 27 th day of 1961.respectively. to which the central government the Burmah Oil Company , the Assam Oil Company Limited and Oil India Limited. Were parties shall be deemed to have been terminated with effect from the 1st day of January, 1977 , and accordingly the rights, liabilities and obligations arising out of such Agreement shall be deemed to have been.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Chapter III

Title: Acquisition of the Undertakings of the Two Companies

State: Central

Year: 1981

.....the appointed day for sufficient monetary consideration. (3) On the expiry of the term of any lease , tenancy or arrangement referred to in sub-section (1) or sub-section (2) , such lease or tenancy or arrangement shall, if so desired by the central government ,be renewed or continued, so far as may be, on the same terms and conditions on which the lease or tenancy or arrangement was originally granted or entered into. Section 8 - Removal of doubts (1) For the removal of doubts, it is hereby declared that the provisions of sections 5, 6 and 7 shall apply to the extent to which any property appertains to the business carried on by each specified company in India ; and to the rights and powers acquired , and to debts, liabilities and obligations incurred, and to contracts, agreements, and other instruments made, by the specified company in India , and to proceedings relating to those matter pending, in any court or tribunal or before any other authority , in India . (2) if any question arises as to whether any property appertained, immediately before the appointed day, to any business of a specified company in India or whether any rights, powers , debts, liabilities or.....

Burmah Oil Company (Acquisition of Shares of Oil India Limited and of the Understakings in India or Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited) Act, 1981 Complete Act

State: Central

Year: 1981

.....Government company to take all necessary steps for taking possession of all properties, which have been transferred to. and vested in it under this Act. SECTION 15: CONTRACTS TO CONTINUE UNLESS TERMINATED BY CENTRAL GOVERNMENT - (1) Every contract, other than an Agreement referred to in sub-section (6) of section. entered into by a specified company for any service, sale or supply in India and into force immediately before the appointed day. shall, unless terminated under sub-section (2). within a period of two years from the appointed day. continue to be of full force .and effect against or in favour of the Central Government or. as the case may be. the successor Government company (2) The Central Government may. if it is satisfied that any contract referred to in sub-section (1) is unduly onerous or has been entered into in bad faith or is detrimental to the interests of that Government or the successor Government company as the case may, be. by order in writing; either terminate such contract or make such alterations or modifications therein as it may think in . Provided that the Central Government shall not terminate any contract or make any alteration or modification.....

National Bank for Agriculture and Rural Development Act, 1981 Complete Act

State: Central

Year: 1981

.....shall stand dissolved. The Bill also provides for changes of a supplemental, incidental or consequential nature in the Reserve Bank of India Act, 1934,the Banking Regulation Act, 1949the Industrial Disputes Act. 1947andthe Payment of Bonus Act, 1965. 4. The Notes on clauses appended to the Bill explain the provisions of the Bill.-See Gaz, of India, 18-9-1981, Pt. II.S.2,Ext.p.683. 1An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows :- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEPIENT (1)This Act may be called the National Bank for Agriculture and Rural Development Act, 1981 . (2) It extends to the whole of India. (3) It shall.....