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Start Free TrialThe Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.] Complete Act
Title: The Securities and Insurance Laws (Amendment and Validation) Act, 2010 No. 26 of 2010[20th August, 2010.]
State: Central
Year: 2010
An Act further to amend the Reserve Bank of India Act, 1934, the Insurance Act, 1938, the Securities Contracts (Regulation) Act, 1956 and the Securities and Exchange Board of India Act, 1992.BE it enacted by Parliament in the Sixty-first Year of the Republic of India as follows:-CHAPTER IPRELIMINARY 1. Short title and commencement. - (1) This Act may be called the Securities and Insurance Laws (Amendment and Validation) Act, 2010.(2) It shall be deemed to have come into force on the 18th day of June, 2010. CHAPTER IIAMENDMENT TO THE RESERVE BANK OF INDIA ACT, 1934 2. Insertion of new Chapter IIIE in Act 2 of 1934. - After Chapter IIID of the Reserve Bank of India Act, 1934, the following Chapter shall be inserted, namely:- "CHAPTER IIIEJOINT MECHANISM45Y. Joint Mechanism. - (1) Notwithstanding anything contained in this Act or the Securities and Exchange Board of India Act, 1992 or any other law for the time being in force, if any difference of opinion arises as to whether- (i) any instrument, being derivative referred to in clause (a) or money market instrument referred to in clause (b) or repo referred to in clause (c) or reverse repo referred to in clause (d) or securities.....
List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter III
Title: Enforcement of Security Interest
State: Central
Year: 2002
.....management of the business of the borrower shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with the borrower. (2) Nothing contained in sub-section (1) shall affect the right of any such managing director or any other director or manager of any such person in charge of management to recover from the business of the borrower, moneys recoverable otherwise than by way of such compensation. Section 17 - Right to appeal (1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under this Chapter,1[may make an application along with such fee, as may be prescribed,] to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measure had been taken. 2["Provided that different fees may be prescribed for making the application by the borrower and the person other than the borrower. Explanation- For the removal of doubts, it is hereby declared that the communication of reasons to the borrower by the.....
View Complete Act List Judgments citing this sectionSecuritisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 13
Title: Enforcement of Security Interest
State: Central
Year: 2002
.....secured creditor of such company, who opts to realise his security instead of relinquishing his security and proving his debt under proviso to subsection (1) of section 529 of the Companies Act, 1956, may retain the sale proceeds of his secured assets after depositing the workmen's dues with the liquidator in accordance with the provisions of section 529A of that Act; Provided also that the liquidator referred to in the second proviso shall intimate the secured creditor the workmen's dues in accordance with the provisions of section 529A of the Companies Act, 1956 and in case such workmen's dues cannot be ascertained, the liquidator shall intimate the estimated amount of workmen's dues under that section to the secured creditor and in such case the secured creditor may retain the sale proceeds of the secured assets after depositing the amount of such estimated dues with the liquidator: Provided also that in case the secured creditor deposits the estimated amount of workmen's dues, such creditor shall be liable to pay the balance of the workmen's dues or entitled to receive the excess amount, if any, deposited by the secured creditor with the liquidator: Provided also.....
View Complete Act List Judgments citing this sectionSecurities Laws (Amendment) Act, 2004 Chapter II
Title: Amendments to the Securities Contracts (Regulation) Act, 1956
State: Central
Year: 2004
In Section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Chapter referred to as the principal Act),- (i) clause (aa) shall be re-lettered as clause (ac) thereof and before the clause (ac) as so re-lettered, the following clauses shall be inserted, namely:- '(aa) "corporatisation" means the succession of a recognised stock exchange, being a body of individuals or a society registered under the Societies Registration Act, 1860 (21 of 1860), by another stock exchange, being a company incorporated for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities carried on by such individuals or society; (ab) "demutualisation" means the segregation of ownership and management from the trading rights of the members of a recognised stock exchange in accordance with a scheme approved by the Securities and Exchange Board of India; (ii) clause (ga) shall be re-lettered as clause (gb) thereof and before the clause (gb) as so re-lettered, the following clause shall be inserted, namely:- '(ga) "scheme" means a scheme for corporatisation or demutualisation of a recognised stock exchange which may.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 5
Title: Securities Laws (Amendment) Act,2004
State: Central
Year: 1956
THE SECURITIES LAWS (AMENDMENT) ACT, 2004 [Act, No. 1 of 2005] [6th January, 2005] PREAMBLE A Act further to amend the Securities Contracts (Regulation) Act, 1956 and the Depositories Act 1996. Be it enacted by Parliament in the Fifty Fifth year of Republic of India as follows:- CHAPTER I PRELIMINARY 1. Short title and commencement (1) This Act may be called the Securities Laws (Amendment) Act, 2004. (2) It shall come be deemed to have come into force on the 12th day of October, 2004. CHAPTER II AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956 2. Amendment of Section 2 In Section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Chapter referred to as the principal Act),- (i) clause (aa) shall be re-lettered as clause (ac) thereof and before the clause (ac) as so re-lettered, the following clauses shall be inserted, namely:- '(aa) "corporatisation" means the succession of a recognised stock exchange, being a body of individuals or a society registered under the Societies Registration Act, 1860 (21 of 1860), by another stock exchange, being a company incorporated for the purpose of assisting,.....
View Complete Act List Judgments citing this sectionBorder Security Force Act, 1968 Chapter VII
Title: Security Force Courts
State: Central
Year: 1968
.....and of whom not less than four are of a rank not below that of a confirmed Deputy Superintendent of Police. Explanation.--For the purposes of this section and section 69 "Deputy Superintendent of Police" includes any post of a higher rank and any post declared by Central Government by notification to be an equivalent post as also any post higher in rank than the post so declared. Section 69 - Composition of a Petty Security Force Court A Petty Security Force Court shall consist of not less than three officers each of whom has held the post of Deputy Superintendent of Police for not less than two whole years. Section 70 - Summary Security Force Court (1) A Summary Security Force Court may be held by the Commandant of any unit of the Force and he alone shall constitute the Court. (2) The proceedings shall be attended throughout by two other persons who shall be officers or subordinate officers or one of either, and who shall not as such, be sworn or affirmed. Section 71 - Dissolution of a Security Force Court (1) If a Security Force Court after the commencement of a trial is reduced below the minimum number of officers required by this Act, it shall be dissolved. .....
View Complete Act List Judgments citing this sectionBorder Security Force Act, 1968 Chapter VII
Title: Procedure of Security Force Courts
State: Central
Year: 1968
.....and of the battalion, unit, or branch of the Force to which they belong. (3) Where a record is made in any battalion book in pursuance of this Act or of any rules made thereunder or otherwise in the discharge of official duties and purports to be signed by the commandant or by the officer whose duty it is to make such record, such record shall be evidence of the facts therein stated. (4) A copy of any record in any battalion book purporting to be certified to be a true copy by the officer having custody of such book shall be evidence of such record. (5) Where any person subject to this Act is being tried on a charge of desertion or of absence without leave, and such person has surrendered himself into the custody of any officer or other person subject to this Act, or any unit of the Force, or has been apprehended by such officer or person, a certificate purporting to be signed by such officer, or by the Commandant of the unit to which such person belongs, as the case may be, and stating the fact, date and place of such surrender or apprehension, and the manner in which he was dressed, shall be evidence of the matters so stated. (6) Where any person subject to this Act.....
View Complete Act List Judgments citing this sectionEnforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Chapter 2
Title: Amendments to the Securitisation and Reconstructionof Financial Assets and Enforcement of Security Interest Act, 2002
State: Central
Year: 2004
.....section 18 or section 18A, holds that the possession of secured assets by the secured creditor is not in accordance with the provisions of this Act and rules made thereunder and directs the secured creditors to return such secured assets to the concerned borrowers, such borrower shall be entitled to the payment of such compensation and costs as may be determined by such Tribunal or Court of District Judge or Appellate Tribunal or the High Court referred to in section 18B.". Section 15 - Amendment of section 25 In section 25 of the principal Act,-- (a) after sub-section (1), the following sub-section shall be inserted, namely:-- "(1A) On receipt of intimation under sub-section (1), the Central Registrar shall order that a memorandum of satisfaction shall be entered in the Central Register." (b) in sub-section (2), for the words "The Central Registrar shall, on receipt of such intimation", the words, brackets and figures "If the concerned borrower gives an intimation to the Central Registrar for not recording the payment or satisfaction referred to in sub-section (1), the Central Registrar shall on receipt of such intimation" shall be substituted. Section 16 -.....
View Complete Act List Judgments citing this sectionSecurities Contracts Regulation Act, 1956 (42 of 1956) Amending Act 4
Title: Securities Laws (Second Amendment) Act, 1999
State: Central
Year: 1956
.....LAWS (SECOND AMENDMENT) ACT, 1999 [Act, No. 32 of 1999] [16th December, 1999] PREAMBLE An Act further to amend the Securities Contracts (Regulation) Act, 1956, the Securities and Exchange Board of India Act, 1992 and the Depositories Act, 1996. Be it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: - Chapter I Preliminary 1. Short title This Act may be called the Securities Laws (Second Amendment) Act, 1999. Chapter II Amendments To The Securities Contracts (Regulation) Act, 1956 2. Amendment of Section 2 In section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) (hereafter in this Chapter referred to as the principal Act), after clause (g), the following clause shall be inserted, namely: -- '(ga) "Securities Appellate Tribunal" means a Securities Appellate Tribunal established under sub-section (1) of section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992);'. 3. Insertion of new section 2A After section 2 of the principal Act, the following section shall be inserted, namely:-- "2A. Interpretation of certain words and expressions.-- Words and expressions used.....
View Complete Act List Judgments citing this sectionNational Security Guard Act 1986 Chapter VI
Title: Security Guard Courts
State: Central
Year: 1986
.....in this behalf by warrant of any such officer. Section 64 - Contents of warrants issued under sections 62 and 63 A warrant, issued under section 62 or section 63 may contain such restrictions, reservations or conditions as the officer issuing it may think fit. Section 65 - Composition of General Security Guard Court A General Security Guard Court shall consist of not less than five officers. Section 66 - Composition of a Petty Security Guard Court A Petty Security Guard Court shall consist of not less than three officers. Section 67 - Summary Security Guard Court (1) A Summary Security Guard Court may be held by the Commander of any unit of the Security Guard and he alone shall constitute the Court. (2) The proceedings shall be attended throughout by two other persons who shall be Officers or Assistant Commanders or one of either, arid who shall not as such, be sworn or affirmed: Provided that the persons attending the Court for the trial of an officer shall not be of a rank lower than the rank of that officer unless in the opinion of the convening officer recorded in the convening order, officers of such rank are not, having due regard to the.....
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