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Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Complete Act

Title: Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003

State: Central

Year: 2003

Preamble1 - Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Undertaking of Development Bank to vest in Company Section4 - General effect of transfer and vesting undertaking Section5 - Provisions in respect of officers and other employees of Development Bank Chapter III Section6 - Concession, etc., to be deemed to have been granted to Company Section7 - Tax exemption or benefit to continue to have effect Section8 - Guarantee to be operative Section9 - Shares, bonds and debentures to be deemed to be approved securities Section10 - Act to have overriding effect Section11 - Application of other laws not barred Section12 - Amendment to certain enactments Section13 - Substitution in Acts, rules, regulations by Company in place of Development Bank Section14 - Power to remove difficulties Section15 - Repeal and saving of Act 18 of 1964 ScheduleI - THE SCHEDULE

Sick Industrial Companies (Special Provisions) Repeal Act, 2003, (Central) Complete Act

Title: Sick Industrial Companies (Special Provisions) Repeal Act, 2003, (Central)

State: Central

Year: 2003

Preamble1 - SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) REPEAL ACT, 2003 Section1 - Short title and commencement Section2 - Definitions Section3 - Repeal of Act 1 of 1986 and dissolution of Appellate Authority and Board Section4 - Consequential provisions Section5 - Saving Section6 - Power to make rules

Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Preamble 1

Title: Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003

State: Central

Year: 2003

The Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 [Act, No. 53 of 2003] [30th December, 2003] PREAMBLE An Act to provide for the transfer and vesting of the undertaking of the Industrial Development Bank of India to, and in, the Company to be formed and registered as a Company under the Companies Act, 1956 to carry on banking business and for matters connected therewith or incidental thereto and also to repeal the Industrial Development Bank of India Act, 1964. BE it enacted by Parliament in the Fifty-fourth Year of the Republic of India as follows:--

Sick Industrial Companies (Special Provisions) Repeal Act, 2003, (Central) Preamble 1

Title: Sick Industrial Companies (Special Provisions) Repeal Act, 2003

State: Central

Year: 2003

The Sick Industrial Companies (Special Provisions) Repeal Act, 2003 [Act, No. 1 of 2004] [1st January, 2004] PREAMBLE An Act to repeal the Sick Industrial Companies (Special Provisions) Act, 1985. be it enacted by Parliament in the Fifty-fourth Year of the Republic of India as follows:--

The Sikkim Industrial Promotion & Incentive (Amendment) Act, 2003 Complete Act

State: Sikkim

Year: 2003

.....means separately identifiable investment made by an existing industrial unit in the fixed capital assets to set up a project for manufacturing of new products (s) provided that the additional investment in the fixed assets is not less than 25% of the gross fixed capital and increase of additional employment is at least by 10%. (ddd) "Expansion" of an industrial units means additional fixed unit. For the purpose of calculation, Gross value of all the capital investment made on land, building and plant machinery of the existing unit will be taken into consideration. Expansion shall also imply an increase of at least 25% in the existing installed capacity as well as increase of additional employment of at least by 10% . Prior to going for expansion, the units should be operating at least at a minimum of 80% capacity during the three previous years." (ii) after clause (e), the following clause shall be inserted, namely:- "(ee) "Modernization" means separately identifiable investment made by an existing industrial unit in the fixed capital technology having a definite advantage in reduction of cost of production provided that the additional investment in the fixed.....

Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Complete Act

State: Central

Year: 2003

.....shall be in addition to, and not in derogation of the provisions of any other law for the time being in force. Section 12 Amendment to certain enactments The enactments specified in the Schedule to this Act shall be amended in the manner provided therein. Section 13 Substitution in Acts, rules, regulations or notifications by Company in place of Development Bank In every Act, rule, regulation or notification in force on the appointed day, (a) for the words "Industrial Development Bank of India", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of S.2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted; (b) for the words "Development Bank", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of Section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted; (c) for the words and figures "the Development Bank means the Industrial Development Bank of India, established under S.3 of the Industrial Development Bank of India Act, 1964 (18 of 1964)", the words, brackets,.....

Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Chapter III

Title: Miscellaneous

State: Central

Year: 2003

.....enactments The enactments specified in the Schedule to this Act shall be amended in the manner provided therein. Section 13 - Substitution in Acts, rules, regulations by Company in place of Development Bank (a) for the words "Industrial Development Bank of India", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted; (b) for the words "Development Bank", wherever they occur, the words "Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted; (c) for the words and figures "the Development Bank means the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964(18 of 1964)", the words, brackets, letter and figures "the Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted. (d) for.....

Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Section 13

Title: Substitution in Acts, Rules, Regulations by Company in Place of Development Bank

State: Central

Year: 2003

....."Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted; (c) for the words and figures "the Development Bank means the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964(18 of 1964)", the words, brackets, letter and figures "the Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted. (d) for the words and figures "the Industrial Development Bank of India, established under section 3 of the Industrial Development Bank of India Act, 1964(18 of 1964)", the words, brackets, letter and figures "the Industrial Development Bank of India Limited referred to in clause (b) of section 2 of the Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003" shall be substituted.

Industrial Development Bank (Transfer of Undertaking and Repeal) Act, 2003 Schedule I

Title: The Schedule

State: Central

Year: 2003

.....shall be substituted, namely: '(h) "industrial concern in the small scale sector" means any concern engaged or to be engaged in, (i) the manufacture, preservation or processing of goods; (ii) shipping; (iii) mining including development of mines; (iv) the hotel industry; (v) the transport of passengers or goods by road or by water or by air or by ropeway or by lift; (vi) the generation, storage or distribution of electricity or any other form of energy; (vii) the maintenance, repair, testing or servicing of machinery or equipment of any description or vehicles or vessels or motor boats or trailers or tractors; (viii) assembling, repairing or packing any article with the aid of machinery or power; (ix) the setting up of, or development of, an industrial area or an industrial estate; (x) fishing or providing shore facilities for fishing or maintenance thereof; (xi) providing special or technical knowledge or other services for the promotion of industrial growth; (xii) providing engineering, technical, financial, management, marketing or other services or facilities for industry; (xiii) service industry such as altering, ornamenting, polishing,.....

Sick Industrial Companies (Special Provisions) Repeal Act, 2003 Complete Act

State: Central

Year: 2003

SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) REPEAL ACT, 2003 SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) REPEAL ACT, 2003 An Act to repeal the Sick Industrial Companies (Special Provi sions) Act, 1985. Be it enacted by Parliament in the Fifty-fourth Year of the Republic of India as Follows: SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Sick Industrial Companies (Special Provisions) Repeal Act, 2003. (2) It shall come into force on such date as the Central Govern ment may, by notification in the Official Gazette, appoint. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires," (a) "Appellate Authority" means the Appellate Authority for Industrial and Financial Reconstruction constituted under section 5 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986); (b) "Board" means the Board for Industrial and Financial Reconstruction established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986); (c) words and expressions used herein and not defined but defined in the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), shall have the.....