Bare Act Search Results

The Valliamma Thampuran Kovilakam Estate and the Palace Fund (Partition) and the Kerala Joint Hindu Family System(Abolition) Amendment Act, 1978 [1] Complete Act

State: Kerala

Year: 1978

.....of Cochin" shall be, and shall be deemed to have been, omitted with effect on and from the 28 th day of December, 1971. 3. Substitution of new section for section 3." For section 3 of the Principal Act, the following section shall be substituted, namely:" "3 . Partition of the Estate and the Palace Fund ."(1) The senior most male member of the family shall, within sixty days from the date of commencement of the Valiamma Thampuran Kovilakam Estate and the Palace Fund. (Partition) and the Kerala Joint Hindu Family System (Abolition) Amendment Ordinance, 1978, direct the Board to effect partition of the Estate and the Palace Fund among all the members entitled to a share of the Estate and Palace Fund under section 4 of the Kerala Joint Hindu Family System (Abolition) Act, 1975 (30 of 1976), and such direction shall be published by the Board in the Gazette. (2) If the seniormost male member fails to direct the Board as required by subsection (1), the Board shall, on the expiry of the period specified in that subsection, proceed to effect the partition of the Estate and the Palace Fund among the members referred to in subsection (1), and the partition so effected shall be.....

The Mappilla Wills Act, 1928 Complete Act

State: Kerala

Year: 1928

THE MAPPILLA WILLS ACT, 1928 THE MAPPILLA WILLS ACT, 1928 [Act No. 7 of 1928] PREAMBLE An Act to define the Law relating to Wills by Mappillas. WHEREAS it is expedient to define the law relating to testamentary dispositions by Mappillas governed by the Marumakkathayam or the Aliyasantana Law of Inheritance; AND WHEREAS the previous sanction of the Governor-General has been obtained to the passing of this Act; It is hereby enacted as follows:- Section 1 - Short title This Act may be called The Mappilla Wills Act, 1928. Section 2 - Commencement (i) It shall come into force on the 1st day of January, 1929. (ii) Extent.--It extends to the whole of the Presidency of Madras. (iii) Persons to whom and properties to which this Act is applicable.-- It applies to testamentary dispositions by Mappillas governed by the Marurnakkathayam or the Aliyasantana Law of Inheritance in respect of property which, but for such testamentary disposition, would devolve in accordance with the provisions of the Mappilla Succession Act, 1918. Section 3 - Testamentary dispositions by Mappillas to be governed by this Act and not by Madras Act V of 1898 Testamentary.....

Indian Succession Act, 1925 Chapter 6

Title: Of the Construction of Wills

State: Central

Year: 1925

.....of determining questions as to what person or what property is denoted by any words used in a Will, a Court shall inquire into every material fact relating to the persons who claim to be interested under such Will, the property which is claimed as the subject of disposition, the circumstances of the testator and of his family, and into every fact a knowledge of which may conduct to the right application of the words which the testator has used. Illustrations (i) A, by his Will, bequeaths 1,000 rupees to his eldest son or to his youngest grand-child, or to his cousin, Mary; a Court may make inquiry in order to ascertain to what person the description in the Will applies. (ii) A, by his Will, leaves to B "my estate called Black Acre." It may be necessary to take evidence in order to ascertain what is the subject-matter of the bequest; that is to say, what estate of the testator's is called Black Acre. (iii) A, by his Will, leaves to B "the estate which I purchased of C". It may be necessary to take evidence in order to ascertain what estate the testator purchased of C. Section 76 - Misnomer or misdescription of object (1) Where the words used in a Will to.....

Securities Contracts Regulation Act, 1956 (42 of 1956) Section 27B

Title: Right to Receive Income from Mutual Fund

State: Central

Year: 1956

.....lodging of any security, being units or other instruments issued by the mutual fund, and other documents relating to the transfer due to causes connected with the post, by the actual period of the delay. (2) Nothing contained in sub-Section (1) shall affect- (a) the right of a mutual fund to pay any income from units or other instruments issued by the mutual fund which has become due to any person whose name is for the time being registered in the books of the mutual fund as the holder of the security being units or other instruments issued by the mutual fund in respect of which the income in respect of units or other instruments issued by mutual fund has become due; or (b) the right of transferee of any security, being units or other instruments issued by the mutual fund, to enforce against the transferor or any other person his rights, if any, in relation to the transfer in any case where the mutual fund has refused to register the transfer of the security being units or other instruments issued by the mutual fund in the name of the transferee."] ___________________________ 1. Inserted vide The Securities Laws (Amendment) Act, 2004

Insurance Act, 1938 (4 of 1938) Part IV

Title: Mutual Insurance Companies and Co-operative Life Insurance Societies

State: Central

Year: 1938

.....of this Act, in so far as they are inconsistent with those rules, shall not apply to such societies. ___________________ 1. Substituted by Act 41 of 1999, section 30 and Schedule I, for "In this Part--". 2. Substituted by Act 11 of 1939, section 29, for "incorporated under the provisions of the Indian Companies Act, 1913". 3. Substituted by the Adaptation of Laws Order, 1950, for "Provincial". Section 96 - Application of Act to Mutual Insurance Companies and Co-operative Life Insurance Societies The provisions of sections 6 and 7 and of sub-section ( 2 ) of section 20 , so far as those provisions are inconsistent with the provisions of this Part, shall not apply, and the provisions of this Part shall apply, to1[ *** ] Co-operative Life Insurance Societies. _________________ 1. The words "Mutual Insurance Companies and" omitted by Act 62 of 1968, section 30 (w.e.f. 1-6-1969). Section 97 - Working capital of Mutual Insurance Companies and Co-operative Life Insurance Societies 1[No co-operative life insurance society registered after the 26 th day of January 1937 ] under the Co-operative Societies Act, 1912 ( 2 of 1912 ), or under an Act of a State.....

Northern India Canal and Drainage Act, I873 Section 68

Title: Settlement of Differences as to Mutual Rights and Liabilities of Persons Interested in Water-course

State: Central

Year: 1873

Whenever a difference arises between two or more persons in regard to their mutual rights or liabilities in respect of the use, construction or maintenance of a water-course, any such person may apply in writing to the Divisional Canal-officer stating the matter in dispute.Such officer shall thereupon give notice to the other persons interested that, on a day to be named in such notice, he will proceed to inquire into the said matter.And, after such inquiry, he shall] pass his order thereon, unless he transfers (as he is hereby empowered to do) the matter to the Collector, who shall thereupon inquire into and pass his order on the said matter. Such order shall be final as to the use or distribution of water for any crop sown or growing at the time when such order is made, and shall thereafter remain in force until set aside by the decree of a Civil Court.

Income Tax Act, 1961 Section 115T

Title: Unit Trust of India or Mutual Fund to Be an Assessee in Default

State: Central

Year: 1961

.....or a Mutual Fund and the specified company] or the Mutual Fund, as the case may be, does not pay tax, as is referred to in sub-section (1) or sub-section (2) of section 115R, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. Explanation : For the purposes of this Chapter, (a) Mutual Fund means a Mutual Fund specified under clause (23D) of section 10 ; (b) 2[***] equity-oriented fund means (i) the Unit Scheme, 1964 made by the Unit Trust of India ; and (ii) such fund where the investible funds are invested by way of equity shares in domestic companies to the extent of more than 3[sixty-five per cent] of the total proceeds of such fund : Provided that the percentage of equity share holding of the fund shall be computed with reference to the annual average of the monthly averages of the opening and closing figures ; (c) Unit Trust of India means the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963);] 4[(d) money market mutual fund means a money market mutual fund as defined.....

Securities and Exchange Board of India Act, 1992 Section 15D

Title: Penalty for Certain Defaults in Case of Mutual Funds

State: Central

Year: 1992

.....be liable to 5 [a penalty of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is less]. ______________________ 1. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding ten thousand rupees for each day during which he carries on any such collective investment scheme, including mutual funds, or ten lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 2. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding ten thousand rupees for each day during which such failure continues or ten lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 3. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding five thousand rupees for each day during which such failure continues or five lakh rupees, whichever is higher" (w.r.e.f. 29-10-2002). 4. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding one thousand rupees for each day during which such failure continues" (w.r.e.f. 29-10-2002). 5. Substituted by Act 59 of 2002, section 12, for "a penalty not exceeding five lakh rupees for each such failure" (w.r.e.f. 29-10-2002).

Income Tax Act, 1961 Section 115BBB

Title: Tax on Income from Units of an Open-ended Equity Oriented Fund of the Unit Trust of India or of Mutual Funds

State: Central

Year: 1961

1[(1) Where the total income of an assessee includes any income from units of an open-ended equity oriented fund of the Unit Trust of India or of a Mutual Fund, the income-tax payable shall be the aggregate of (a) the amount of income-tax calculated on income from units of an open-ended equity-oriented fund of the Unit Trust of India or of a Mutual Fund, at the rate of ten per cent ; and (b) the amount of income-tax with which the assessee would have been chargeable had his total income been reduced by the amount of income referred to in clause (a). (2) Nothing contained in sub-section (1) shall apply in relation to any income from units of an open-ended equity-oriented fund of the Unit Trust of India or of the Mutual Fund arising after the 31st day of March, 2003. Explanation : For the purposes of this section, the expressions Mutual Fund, open-ended equity-oriented fund and Unit Trust of India shall have the meanings respectively assigned to them in the Explanation to section 115T.] ________________________ 1. Inserted by the Finance Act, 2002, with effect from 1st April, 2003.

INDIAN SUCCESSION ACT, 1925 Section 170

Title: Exoneration of specific legatee's stock in joint stock company

State: Central

Year: 1925

.....of the call. These payments must be borne by A's estate. (ii) A has agreed to take 50 shares in an intended joint-stock company, and has contracted to pay up 100 rupees in respect of each share, which sum must be paid before his title to the shares can be completed. A bequeathes these shares to B. The estate of A must make good the payments which were necessary to complete A's title. (iii) A bequeaths to B his shares in a certain railway. B accepts the legacy. After A's death a call is made in respect of the shares. B must pay the call. (iv) A bequeaths to B his shares in a joint-stock company. B accepts the bequest. Afterwards the affairs of the company are wound up, and each shareholder is called upon for contribution. The amount of the contribution must be borne by the legatee. (v) A is the owner often shares in a railway company. At a meeting held during his lifetime a call is made of fifty rupees per share, payable by three instalments. A bequeaths his shares to B, and dies between the day fixed for the payment of the first and the day fixed for the payment of the second instalment, and without having paid the first instalment. A's estate must pay the first.....