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Banking Regulation Act, 1949 Complete Act

State: Central

Year: 1949

.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....

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Hindu Gains of Learning Act, 1930 Complete Act

State: Central

Year: 1930

.....demoralising influence upon his character by inducing him to have recourse to dishonest subterfuges like benami transactions. Likewise, the present rule is not favourable to the growth of self-reliance among the dependent members of the family. In a rich family, it offers a premium to extravagance, idleness and perpetual discord. Its injustice is manifestly galling. Take, e.g., a case in which a father has three sons and incurs the same expenditure on their education. He sends them all to England to be educated for the 1.C.S. One is successful, the other two fail. Of the two who fail, one takes to trade, the other is unwilling to do any work and remains idle. The trader earns a large fortune, which the present law allows him to keep to himself, because his education in England was for the Civil Service and not for trade. But, out of the earnings of the Civilian, two shares are claimed, one by the trader and the other by the brother who has been idle. The trader keeps his own earnings and also takes a share of the Civilian's earnings. Take again a case in which three brothers are given by their father the same education for the same profession and at the same cost. Though they.....

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The Maharashtra Director of Prohibition and Excise (Change in Designation) Act, 1973 Complete Act

State: Maharashtra

Year: 1973

.....OF PROHIBITION AND EXCISE (CHANGE IN DESIGNATION) ACT, 1973 THE MAHARASHTRA DIRECTOR OF PROHIBITION AND EXCISE (CHANGE IN DESIGNATION) ACT, 1973 MAHARASHTRA ACT No. L1I 1973 [27th December, 1973] An Act further to amend certain enactments due to change in designation of the Director of Prohibition and Excise WHEREAS the designation of the post of Director of Prohibition and Excise is proposed to be changed to Commissioner of Prohibition and Excise ; AND WHEREAS as a con5equence thereof it is expedient to amend certain enactments and to provide for matters connected therewith ; It is hereby enacted in the Twenty-fourth Year of Republic of India as follows ;" NOTES As a result of the reappraisal of the Prohibition Policy of Govern ment as announced on the floor of both the Houses of Maharashtra Legisla ture on 8th August, 1972, and the introduction of the Country Liquor Scheme, the responsibilities of Prohibition and Excise administration has increased immensely. It was, therefore, found necessary to upgrade the post of Director of Prohibition, and Excise from the senior time scale, the I.A.S. to its super time scale"Vide Statement of Objects and.....

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