Bare Act Search Results

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter II

Title: Regulation of Securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions

State: Central

Year: 2002

.....of this Act; (e) settlement of dues payable by the borrower; (f) taking possession of secured assets in accordance with the provisions of this Act. Section 10 - Other functions of securitisation company or reconstruction company (1) Any securitisation company or reconstruction company registered under section 3 may-- (a) act as an agent for any bank or financial institution for the purpose of recovering their dues from the borrower on payment of such fees or charges as may be mutually agreed upon between the parties; (b) act as a manager referred to in clause (c) of sub-section (4) of section 13 on such fee as may be mutually agreed upon between the parties; (c) act as receiver if appointed by any court or tribunal: Provided that no securitisation company or reconstruction company shall act as a manager if acting as such gives rise to any pecuniary liability. (2) Save as otherwise provided in sub-section (1), no securitisation company or reconstruction company which has been granted a certificate of registration under sub-section (4) of section 3, shall commence or carry on, without prior approval of the Reserve Bank, any business other than that of.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 5

Title: Acquisition of Rights or Interest in Financial Assets

State: Central

Year: 2002

.....bank or financial institution shall vest in such company in relation to such financial assets. (3) Unless otherwise expressly provided by this Act, all contracts, deeds, bonds, agreements, powers-of-attorney, grants of legal representation, permissions, approvals, consents or no-objections under any law or otherwise and other instruments of whatever nature which relate to the said financial asset and which are subsisting or having effect immediately before the acquisition of financial asset under sub-section (1) and to which the concerned bank or financial institution is a party or which are in favour of such bank or financial institution shall, after the acquisition of the financial assets, be of as full force and effect against or in favour of the securitisation company or reconstruction company, as the case may be, and may be enforced or acted upon as fully and effectually as if, in the place of the said bank or financial institution, securitisation company or reconstruction company, as the case may be, had been a party thereto or as if they had been issued in favour of securitisation company or reconstruction company, as the case may be. (4) If, on the date of.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 14

Title: Chief Metropolitan Magistrate or District Magistrate to Assist Secured Creditor in Taking Possession of Secured Asset

State: Central

Year: 2002

.....or found, to take possession thereof, and the Chief Metropolitan Magistrate or, as the case may be, the District Magistrate shall, on such request being made to him-- (a) take possession of such asset and documents relating thereto; and (b) forward such assets and documents to the secured creditor. (2) For the purpose of securing compliance with the provisions of sub-section (1), the Chief Metropolitan Magistrate of the District Magistrate may take or cause to be taken such steps and use, or cause to be used, such force, as may, in his opinion, be necessary. (3) No act of the Chief Metropolitan Magistrate or the District Magistrate done in pursuance of this section shall be called in question in any court or before any authority.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Complete Act

Title: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

State: Central

Year: 2002

..... Section24 - Modification of security interest registered under this Act Section25 - Securitisation company or reconstruction company or secured creditor to report satisfaction of security interest Section26 - Right to inspect particulars of securitisation, reconstruction and security interest transactions Chapter V Section27 - Penalties Section28 - Penalties for non-compliance of direction of Reserve Bank Section29 - Offences Section30 - Cognizance of offence Chapter VI Section31 - Provisions of this Act not to apply in certain cases Section32 - Protection of action taken in good faith Section33 - Offences by companies Section34 - Civil court not to have jurisdiction Section35 - The provisions of this Act to override other laws Section36 - Limitation Section37 - Application of other laws not barred Section38 - Power of Central Government to make rules Section39 - Certain provisions of this Act to apply after Central Registry is set-up or cause to be set-up Section40 - Power to remove difficulties Section41 - Amendments of certain enactments Section42 - Repeal and saving Schedule1 - THE SCHEDULE Amending Act1 - AMENDMENT ACT

Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002 Section 3

Title: Offences Against Ship, Fixed Platform, Cargo of a Ship, Maritime Navigational Facilities, Etc

State: Central

Year: 2002

.....the safe navigation of a ship or safety of a fixed platform shall be punished with the punishment provided for such offence. (4) Where any act referred to in sub-section (1) is committed,-- (a) against or on board-- (i) an Indian ship at the time of commission of the offence; or (ii) any ship in the territory of India including its territorial waters; (b) by a stateless person, such act shall be deemed to be an offence committed by such person for the purposes of this Act. Explanation.-- In this sub-section, the expression "stateless person" means a person whose habitual residence is in India but he does not have nationality of any country. (5) Where an offence under sub-section (1) is committed and the person accused of or suspected of the commission of such offence is present in the territory of India and is not extradited to any Convention State or Prool State, as the case may be, such person shall be dealt with in India in accordance with the provisions of this Act. (6) On being satisfied that the circumstances so warrant, the Central Government or any other authority designated by it shall take the person referred to in sub-section (5) and present.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Preamble 1

Title: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

State: Central

Year: 2002

THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 [Act, No. 54 of 2002] [17th December, 2002] PREAMBLE An Act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and for matters connected therewith or incidental thereto. be it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:--

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 9

Title: Measures for Assets Reconstruction

State: Central

Year: 2002

Without prejudice to the provisions contained in any other law for the time being in force, a securitisation company or reconstruction company may, for the purposes of asset reconstruction, having regard to the guidelines framed by the Reserve Bank in this behalf, provide for any one or more of the following measures, namely:-- (a) the proper management of the business of the borrower, by change in, or take over of, the management of the business of the borrower; (b) the sale or lease of a part or whole of the business of the borrower; (c) rescheduling of payment of debts payable by the borrower; (d) enforcement of security interest in accordance with the provisions of this Act; (e) settlement of dues payable by the borrower; (f) taking possession of secured assets in accordance with the provisions of this Act.

Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002 Preamble 1

Title: Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002

State: Central

Year: 2002

An Act to give effect to the International Maritime Organisation Convention for Suppression of Unlawful Acts Against the Safety of Maritime Navigation and the Prool for the Suppression of Unlawful Acts Against the Safety of Fixed Platforms Located on the Continental Shelf and for matters connected therewith. whereas a Convention for the Suppression of Unlawful Acts Against the Safety of Maritime Navigation and the Prool for the Suppression of Unlawful Acts Against the Safety of Fixed Platforms Located on the Continental Shelf were signed at Rome on the 10th day of March, 1988; and whereas India, having acceded to the said Convention and the Prool, should make provisions for giving effect thereto and for matters connected therewith; be it enacted by Parliament in the Fifty-third Year of the Republic of India as follows

Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002 Complete Act

Title: Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002

State: Central

Year: 2002

Preamble1 - SUPPRESSION OF UNLAWFUL ACTS AGAINST SAFETY OF MARITIME NAVIGATION AND FIXED PLATFORMS ON CONTINENTAL SHELF ACT, 2002 Chapter I Section1 - Short title extent, application and commencement Section2 - Definitions Chapter II Section3 - Offences against ship, fixed platform, cargo of a ship, maritime navigational facilities, etc Section4 - Conferment of powers of investigation Section5 - Designated Courts Section6 - Offence triable by Designated Court Section7 - Application of Code to Proceedings before a Designated Court Section8 - Provision as to bail Chapter 3 Section9 - Provisions as to extradition Section10 - Contracting parties to Convention or Protocol Section11 - Power to treat certain ships to be registered in Convention States Section12 - Previous sanction necessary for prosecution Section13 - Presumptions as to offences under section 3 Section14 - Protection of action taken in good faith

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.....