Bare Act Search Results

Guardians and Wards Act, 1890 Section 20

Title: Fiduciary Relation of Guardian to Ward

State: Central

Year: 1890

(1) A guardian stands in a fiduciary relation to his ward, and, save as provided by the will or other instrument, if any, by which he was appointed, or by this Act, he must not make any profit out of his office. (2) The fiduciary relation of a guardian to his ward extends to and affects purchases by the guardian of the property of the ward, and by the ward of the property of the guardian, immediately or soon after the ward has ceased to be a minor and generally all transactions between them while the influence of the guardian still lasts or is recent.

Indian Trusts Act, 1882 Section 88

Title: Advantage Gained by Fiduciary

State: Central

Year: 1882

.....a company, legal advisor, or other person bound in a fiduciary character to protect the interests of another person, by availing himself of his character, gains for himself any pecuniary advantage, or where any person so bound enters into any dealings under circumstances in which his own interests are, or may be, adverse to those of such other person and thereby gains for himself a pecuniary advantage, he must hold for the benefit of such other person the advantage so gained. Illustrations (a) A, an executor, buys a tan undervalue from B, a legatee, his claim under the will, B is ignorant of the value of the bequest. A musthold for the benefit of B the difference between the price and value. (b) A, a trustee, uses the trust- property for the purpose of his own business. A holds for the benefit of his beneficiary the profits arising from such user. (c) A, a trustee, retires from his trust in consideration of his successor paying him a sum of money. A holds such money for the benefit of his beneficiary. (d) A, a partner, buys land in his own name with funds belonging to the partnership. A holds such land for the benefit of the partnership. (e) A, a partner, employed on.....

Companies Act, 1956 Part 1

Title: Preliminary

State: Central

Year: 1956

.....the same activity as that carried on by the head office of the company; or (c) any establishment engaged in any production, processing or manufacture, but does not include any establishment specified in any order made by the Central Government under section 8;] (10) "company" means a company as defined in section 3; 9 [(10A) "Company Law Board" means the Board of Company Law Administration constituted under section 10E;] 10 [(11) "the court" means, - (a) with respect to any matter relating to a company (other than any offence against this Act), the court having jurisdiction under this Act with respect to that matter relating to that company, as provided in section 10; (b) with respect to any offence against this Act, the court of a Magistrate of the First Class or, as the case may be, a Presidency Magistrate, having jurisdiction to try such offence;] (12) "debenture" includes debenture stock bonds and any other securities of a company, whether constituting a charge on the assets of the company or not; 11 [(12A) "Depository" has the same meaning as in the Depositories Act, 1996 (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of.....

Companies Act, 1956 Section 4

Title: Meaning of "holding Company" and "subsidiary"

State: Central

Year: 1956

.....outside India, which, if incorporated in India, would be a public company within the meaning of this Act, shall be deemed for the purposes of this Act to be a subsidiary of a public company if the entire share capital in that private company is not held by that body corporate whether alone or together with one or more other bodies corporate incorporated outside India.] ________________________ 1. Substituted by Act 65 of 1960, Section 3, for clause (b) (w.e.f. 28-12-1960). 2. The words ",managing agent, secretaries and treasurers" omitted by the Companies (Amandment) Act, 2000, Section 4. 3. Substituted by Act 65 of 1960, Section 3, for clause (c) (w.e.f. 28-12-1960). 4. Inserted by Act 65 of 1960, Section 3 (w.e.f. 28-12-1960).

Companies Act, 1956 Complete Act

State: Central

Year: 1956

.....the same activity as that carried on by the head office of the company; or (c) any establishment engaged in any production, processing or manufacture, but does not include any establishment specified in any order made by the Central Government under (section 8);] (10) "company" means a company as defined in (section 3); [(10A) "Company Law Board" means the Board of Company Law Administration constituted under (section 10E);] [(11) "the Court" means,- (a) with respect to any matter relating to a company (other than any offence against this Act), the Court having jurisdiction under this Act with respect to that matter relating to that company, as provided in (section 10) ; (b) with respect to any offence against this Act, the Court of a Magistrate of the First Class or, as the case may be, a Presidency Magistrate, having jurisdiction to try such offence ;] (12) "debenture" includes debenture stock, bonds and any other securities of a company, whether constituting a charge on the assets of the company or not; [(12A) "depository" has the same meaning as in the (Depositories Act, 1996) (22 of 1996); (12B) "derivative" has the same meaning as in clause (aa) of (S.2.....

Estate Duty Act, 1953 Complete Act

State: Central

Year: 1953

.....apply to- (a) gifts made in consideration of marriage, subject to a maximum of rupees then thousand in value; (b) gifts which are proved to the satisfaction of the Conroller to have been part of the normal expenditure of the deceased, subject to a maximum of rupees ten thousand in value.] SECTION 10: Gifts whenever made where donor not entirely excluded: Property taken under any gift, whenever made, shall be deemed to pass on the donor's death to the extent that bona fide possession and enjoyment of it was not immediately assumed by the donee and thence- forward retained to the entire exclusion of the donor or of any benefit to him by contract or otherwise: Provided that the property shall not be deemed to pass by reason only that it was not, as from the date of the gift, exclusively retained as aforesaid, if, by means of the surrender of the reserved benefit or otherwise, it is subsequently enjoyed the entire exclusion of the donor or of any benefit of him for at least [two years] before the death. [Provided further that a house or part thereof taken under any gift made to the spouse, son, daughter, brother or sister, shall not be deemed to pass on the donor's death by.....

Guardians and Wards Act, 1890 Complete Act

State: Central

Year: 1890

.....thereof may be attended by, such of the persons interested in the aplication as the Court thinks fit. (3) The guardian stating in good faith the facts in the petition and acting upon the opinion, advice or direction given by the Court shall be deemed, so far as regards his own responsibility, to have performed his duty as guardian in the subject-matter of the application. SECTION 34: OBLIGATIONS ON GUARDIAN OF PROPERTY APPOINTED OR DECLARED BY THE COURT - Where a guardian of the property of a ward has been appointed or declared by the Court and such guardian is not the Collector, he shall,- (a) if so required by the Court, give a bond, as nearly as may be in the prescribed form, to the Judge of the Court to ensure for the benefit of the Judge for the time being, with or without sureties, as may be prescribed, engaging duly to account for what he may receive in respect of the property of the ward; (b) if so required by the Court, deliver to the Court, within six months from the date of his appointment or declaration by the Court, or within such other time as the Court directs, a statement of the immovable property belonging to the ward, of the money and other movable property.....

Guardians and Wards Act, 1890 Chapter III

Title: Duties, Rights and Liabilities of Guardians

State: Central

Year: 1890

.....thereof may be attended by, such of the persons, interested in the application as the Court thinks fit. (3) The guardian stating in good faith the facts in the petition and acting upon the opinion, advice or direction given by the Court shall be deemed, so far as regards his own responsibility, to have performed his duty as guardian in the subject- matter of the application. Section 34 - Obligations on guardian of property appointed or declared by the Court Where a guardian of the property of a ward has been appointed or declared by the Court and such guardian is not the Collector, he shall, (a) if so required by the Court, give a bond, as nearly as may be in the prescribed form, to the Judge of the Court to ensure for the benefit of the Judge for the time being, with or without sureties, as may be prescribed engaging duly to account for what he may receive in respect of the property of the ward; (b) if so required by the Court, deliver to the Court, within six months from the date of his appointment or declaration by the Court, or within such other time as the Court directs, a statement of the immovable property belonging to the ward, of the money and other movable.....

Indian Securities Act, 1920 Section 24

Title: Power to Make Rules

State: Central

Year: 1920

.....of any Government stock. (4) Rules made under this section shall be published in the Official Gazette, and shall thereupon have effect as if enacted in this Act. 1[(5) Every rule made by the Central Government under this section shall be laid, as soon as may be after it is made, 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 rule or both Houses agree that the rule should not be made, the rule 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 done under that rule. (6) Every rule made by the State Government under this section shall be laid, as soon as may be after it is made, before the State Legislature. ] ______________________________ 1.Inserted by Delegated Legislation Provisions (Amendment) Act 1986 ( 4of 1986) w.e.f.....

Indian Trusts Act, 1882 Chapter IX

Title: Of Certain Obligations in the Nature of Trusts

State: Central

Year: 1882

.....performance could be enforced, the former must hold the property for the benefit of the latter to the extent necessary to give effect to the contract. Section 92 - Purchase by person contracting to buy property to be held on trust Where a person contracts to buy property to be held on trust for certain beneficiaries and buys the property accordingly, he must hold the property for their benefit to the extent necessary to give effect to the contract. Section 93 - Advantage secretly gained by one of several compounding creditors Where creditors compound the debts due to them, and one of such creditors, by a secret arrangement with the debtor, gains an undue advantage over his co-creditors, he must hold for the benefit of such creditors the advantage so gained. Section 94 - Constructive trust in cases not expressly provided for (Rep. by the Benami Transactions (Prohibition) Act, 1988, sec. 7 (w.e.f. 19.5.1988)). Illustrations (a) A, an executor, distributes the assets of his testator B to the legatees without having paid the whole of B's debts. The legatees hold for the benefit of B's creditors, to the extent necessary to satisfy their just demands, the assets so.....