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

.....2004 2. Substituted for "such order of rejection or cancellation" by The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Section 5 - Acquisition of rights or interest in financial assets (1) Notwithstanding anything contained in any agreement or any other law for the time being in force, any securitisation company or reconstruction company may acquire financial assets of any bank or financial institution-- (a) by issuing a debenture or bond or any other security in the nature of debenture, for consideration agreed upon between such company and the bank or financial institution, incorporating therein such terms and conditions as may be agreed upon between them; or (b) . by entering into an agreement with such bank or financial institution for the transfer of such financial assets to such company on such terms and conditions as may be agreed upon between them. (2) If the bank or financial institution is a lender in relation to any financial assets acquired under sub-section (1) by the securitisation company or the reconstruction company, such securitisation company or reconstruction company shall, on such acquisition, be deemed to be.....

Companies (Second Amendment) Act, 2002 Section 63

Title: Substitution of New Section for Section 448

State: Central

Year: 2002

For section 448 of the principal Act, the following section shall be substituted, namely:-- '448. Appointment of Official Liquidator.-- (1) For the purposes of this Act, so far as it relates to the winding up of a company by the Tribunal, there shall be an Official Liquidator who-- (a) may be appointed from a panel of professional firms of chartered accountants, advocates, company secretaries, costs and works accountants or firms having a combination of these professions, which the Central Government shall constitute for the Tribunal; or (b) may be a body corporate consisting of such professionals as may be approved by the Central Government from time to time; or (c) may be a whole-time or a pan-time officer appointed by the Central Government: Provided that, before appointing the Official Liquidator, the Tribunal may give due regard to the views or opinion of the secured creditors and workmen. (2) The terms and conditions for the appointment of the Official Liquidator and the remuneration payable to him shall be-- (a) approved by the Tribunal for those appointed under clauses (a) and (b) of sub-section (1), subject to a maximum remuneration of five per cent, of.....

Control of National Highways (Land and Traffic) Act, 2002 Complete Act

State: Central

Year: 2002

.....Government or which do not already vest in the Central Government but have been acquired for the purpose of Highway shall, for the purposes of this Act, and other Central Acts, be deemed to be the property of the Central Government as owner thereof. (2) The Highway Administration shall cause to be maintained a record in the prescribed manner in which the particulars of the lands, relating to the Highway, of which the Central Government is the owner shall be entered and the entries of the particulars of such lands in any record maintained for such purpose before the commencement of this Act shall be deemed to be the entry of the particulars of such lands made in the first said record and accordingly the Central Government shall be deemed to be the owner of the lands regarding which the entries have been made in such records maintained before the commencement of this Act. (3) Any person claiming against the ownership of the Central Government referred to in subsection (2) shall make written complaint to the Highway Administration and prove his claim before it and the Highway Administration, after considering the evidence produced by such person, may correct such records or.....

Competition Act, 2002 Complete Act

State: Central

Year: 2002

.....or market therefor; or (ii) technical or scientific development relating to goods or services to the prejudice of consumers; or (c) indulges in practice or practices resulting in denial of market access; or (d) makes conclusion of contracts subject to acceptance by other parties of supplementary obligations which, by their nature or according to commercial usage, have no connection with the subject of such contracts; or (e) uses its dominant position in one relevant market to enter into, or protect, other relevant market. Explanation.-For the purposes of this section, the expression - (a) "dominant position" means a position of strength, enjoyed by an enterprise, in the relevant market, in India, which enables it to- (i) operate independently of competitive forces prevailing in the relevant market; or (ii) affect its competitors or consumers or the relevant market in its favour; (b) "predatory price" means the sale of goods or provision of services, at a price which is below the cost, as may be determined by regulations, or production of the goods or provision of services, with a view to reduce competition or eliminate the competitors. SECTION 05: COMBINATION. -The.....

Biological Diversity Act, 2002 Complete Act

State: Central

Year: 2002

.....of any Panchayats or Municipalities, institutions of self-Government constituted under any other provision of the Constitution or any Central Act or State Act; (i) "member" means a member of the National Biodiversity Authority or a State Biodiversity Board and includes the Chairperson; (j) "National Biodiversity Authority" means the National Biodiversity Authority established under Sec. 8; (k) "prescribed" means prescribed by rules made under this Act; (l) "regulations" means regulations made under this Act; (m) "research" means study or systematic investigation of any biological resource or technological application, that uses biological systems, living organisms or derivatives thereof to make or modify products or processes for any use; (n) "State Biodiversity Board" means the State Biodiversity Board established under Sec. 22; (o) "sustainable use" means the use of components of biological diversity in such manner and at such rate that does not lead to the long-term decline of the biological diversity thereby maintaining its potential to meet the needs and aspirations of present and future generations; (p) "value added products" means products which may contain.....

Fiscal Responsibility Act, 2002 (16 of 2002) Section 4

Title: Fiscal Management Principles

State: Karnataka

Year: 2002

.....initial financial year on the 1st day of April, 2002, and ending on the 31st day of March, 2015; that the total liabilities at the end of the last financial year do not exceed twenty five per cent of the estimated gross state domestic product for that year; Provided that revenue deficit and fiscal deficit may exceed the limits specified under this sub-section due to ground or grounds of unforeseen demands on the finances of the State Government due to national security or natural calamity, subject to the condition that the excess beyond limits arising due to natural calamities does not exceed the actual fiscal cost that can be attributed to the calamities; Provided further that the ground or grounds specified in the first proviso shall be placed before the House of Legislature, as soon as may be, after it becomes likely that such deficit amount may exceed the aforesaid limits, with an accompanying report stating the likely extent of excess, and reasons therefor.

Hampi World Heritage Area Management Authority Act, 2002 Section 11

Title: Functions of the Authority

State: Karnataka

Year: 2002

.....or other agency the work of execution of any development plan or town planning scheme or development of the Heritage area; (ix) to co-ordinate the activities of the local authorities and the Urban Development authority, if any, constituted under the Karnataka Urban Development Authorities Act, 1987 exercising jurisdiction within the limits of the Heritage Area and the Karnataka Urban water Supply and Sewerage Board, the Karnataka Slum Clearance Board, the Karnataka Power Transmission Corporation, the Karnataka Industrial Areas Development Board, the Karnataka State Road Transport Corporation and such other bodies as are connected with developmental activities in the Heritage Area; (x) to supervise and review the progress of expenditure incurred under the plan and performance of various development departments and local authorities with reference to the plan; (xi) to take action to protect the public property within the heritage area; (xii) to raise local, regional, national and international awareness about the significance of the Hampi World Heritage Site; (xiii) to promote and encourage proper research to understand the archaeological, historical and environmental.....

Hampi World Heritage Area Management Authority Act, 2002 Chapter IV

Title: Powers and Functions of the Authortiy

State: Karnataka

Year: 2002

.....The Fund and all other assets vesting in the Authority shall be held and applied by it, subject to the provisions of and for the purposes of this Act. Section 18 - Budget The Authority shall prepare, every year, in such form and at such time as may be prescribed, an annual budget estimate in respect of the next financial year showing the estimated receipts and disbursements of the Authority and shall submit a copy thereof to the State Government. Section 19 - Annual report The Authority shall, after the end of each year prepare in such form and before such date as may be prescribed, a report of its activities during such year and submit to the State Government and the State Government shall cause a copy of such report to be laid before both Houses of the State Legislature. Section 20 - Subventions and loans to the Authority (1) The State Government may, from time to time, make subventions to the Authority for the purposes of this Act on such terms and conditions as the State Government may determine. (2) the State Government may, from time to time advance loans to the Authority on such terms and conditions; not inconsistent with the provisions of this Act, as the.....

Companies (Amendment) Act, 2002 Section 2

Title: Insertion of New Part Ixa

State: Central

Year: 2002

.....shall form part of the capital of the Producer Company. (8) Any reference to the inter-State co-operative society in any law other than this Act or in any contract or other instrument, shall be deemed to be reference to the Producer Company. (9) If, on the transformation date, there is pending any suit, arbitration, appeal or other legal proceeding of whatever nature by or against the inter-State co-operative society, the same shall not abate, be discontinued or be in any way prejudicially affected by reason of the incorporation of the Producer Company under section 581C or transformation of the inter-State co-operative society as a Producer Company under section 581J, as the case may be, but the suit, arbitration, appeal or other proceeding, may be continued, prosecuted and enforced by or against the Producer Company in the same manner and to the same extent as it would have, or may have been continued, prosecuted and enforced by or against the inter-State co-operative society as if the provisions contained in this Part had not come into force. 581M. Concession, etc., to be deemed to have been granted to Producer Company .-- With effect from the transformation.....

Companies (Second Amendment) Act, 2002 Section 67

Title: Amendment of Section 457

State: Central

Year: 2002

.....inviting bids shall contain the following details, namely:-- (a) name, address of registered office of the company and its branch offices, factories and plants and the place where assets of the company are kept and available for sale; (b) last date for submitting bids which shall not exceed ninety days from the date of advertisement; (c) time during which the premises of the company shall remain open for inspection; (d) the last date for withdrawing the bid; (e) financial guarantee which shall not be less than one-half of the value of the bid; (f) validity period of the bids; (g) place and date of opening of the bids in public; (h) reserve price and earnest money to be deposited along with the bid; (i) any other terms and conditions of sale which may be prescribed. (2G) The liquidator appointed shall-- (a) maintain a separate bank account for each company under his charge for depositing the sale proceeds of the assets and recovery of debts of each company; (b) maintain proper books of account in respect of all receipts and payments made by him in respect of each company and submit half yearly return of receipts and payments to the Tribunal.".