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Home Bare Acts Phrase: optionIndian Maritime University Act 2008 Section 49
Title: Transfer of Assets and Options of the Employees
State: Central
Year: 2008
Notwithstanding anything contained in this Act, or in the Statutes or the Ordinances, consequent upon merger of the Training Ship Chanakay, Mumbai, the Marine Engineering and Research Institute, Mumbai, the Marine Engineering and Research Institute, Kolkata, Lal Bahadur Shastri College of Advance Maritime Studies, Mumbai, the National Maritime Academy, Chennai, Indian Institute of Port Management, Kolkata and the National Ship Design and Research Centre, Visakhapatnam into the Indian Maritime University, all the assets and employees shall stand transferred to the University and such employees shall have the following options: (i) the employees of the four training institutes under Indian Institute of Maritime Studies who shall stand transferred to Indian Maritime University shall have the option to continue on deemed deputation in Indian Maritime University on the terms and conditions in force of the Central Government and also continue to retain or to be allotted government residential accommodation on turn and avail of the Central Government Health Scheme facilities till their retirement; (ii) the employees of the National Maritime Academy, Chennai, Indian Institute of.....
View Complete Act List Judgments citing this sectionIncome Tax Act, 1961 Section 115VQ
Title: Period for Which Tonnage Tax Option to Remain in Force
State: Central
Year: 1961
(1) An option for Tonnage Tax Scheme, after it has been approved under subsection (3) of section 115VP, shall remain in force for a period of ten years from the date on which such option has been exercised and shall be taken into account from the assessment year relevant to the previous year in which such option is exercised. (2) An option for Tonnage Tax Scheme shall cease to have effect from the assessment year relevant to the previous year in which (a) the qualifying company ceases to be a qualifying company ; (b) a default is made in complying with the provisions contained in section 115VT or section 115VU or section 115VV ; (c) the tonnage tax company is excluded from the Tonnage Tax Scheme under section 115VZC ; (d) the qualifying company furnishes to the Assessing Officer, a declaration in writing to the effect that the provisions of this Chapter may not be made applicable to it, and the profits and gains of the company from the business of operating qualifying ships shall be computed in accordance with the other provisions of this Act.
View Complete Act List Judgments citing this sectionBombay Forward Contracts Control Act, 1947, (Maharashtra) Section 9
Title: Options in Goods Illegal
State: Maharashtra
Year: 1947
(1) Notwithstanding anything contained in this Act or in any other law for the time being in force on a notification being issued by the Provincial Government in the Official Gazette, options or such kinds of options in such goods and in the whole of the Province of Bombay or such part thereof as may be specified in the notification shall be illegal. (2) Any person entering into any option made illegal under sub-section (1) shall, on conviction, be punishable with imprisonment which may extend to six months or with fine or with both. NOTIFICATION G. N., F. D., No. 7561/33-D(2), dated 2nd January, 1951 (B. G., Pt. IV-B, p. 72) In exercise of the powers conferred by sub-section (1) of section 9 of the Bombay Forward Contracts Control Act, 1947 (Bom. LXIV of 1947), the Government of Bombay is pleased to direct that all options in all varieties of oilseeds shall be illegal in Greater Bombay.
View Complete Act List Judgments citing this sectionForward Contracts (Regulation) Act, 1952 Chapter IV
Title: Forward Contracts and Options in Goods
State: Central
Year: 1952
.....goods entered into in pursuance of sub-section (1) which is in contravention of any of the bye-laws specified in this behalf under clause (a) of sub-section (3) of section 11 shall be void-- (i) as respects the rights of any member of the recognised association who has entered into contract in contravention of any, such bye-law, and also (ii) as respects the rights of any other person who has knowingly participated in the transaction entailing such contravention. (3) Nothing in sub-section (2) shall affect the right of any person other than a member of the recognised association to enforce any such contract or to recover any sum under or in respect of such contract: Provided that such person had no knowledge that such transaction was in contravention of any of the bye-laws specified under clause (a) of sub-section (3) of section 11. 1[(3A) Any forward contract in goods entered into in pursuance of sub-section (1), which at the date of the contract is in contravention of any of the bye-laws specified in this behalf under clause (aa) of sub-section (3) of section 11 shall be illegal.] (4) No member of a recognised association shall, in respect of any goods specified in.....
View Complete Act List Judgments citing this sectionCantonments (House-accommodation) Act, 1923 Section 13
Title: Option in Certain Cases for Owner on Whom Notice is Issued Under Section 7 to Call Upon the Government to Purchase
State: Central
Year: 1923
(1) If a house, in respect of which a notice is issued under section 7, is shown to the satisfaction of the 1 [Central Government], or is proved by a decree or order of a Court of competent jurisdiction, to have been erected- (a) under any conditions, rules, regulations or orders which were in force in Bengal prior to the eighth day of December, 1864, and conferred on the owner the option of offering the house for sale to the military officer applying for its appropriation for his occupation or to the East India Company or the Government, or (b) under any conditions, rules regulations or orders which were in force in Bombay prior to the first day of June, 1875, and conferred such an option as is described in clause (a), then the owner shall have the option of either complying with the notice of offering the house 2 [for sale to the Central Government]. (2) If the owner elects to sell the house, and 1 [Central Government] is willing to purchase it, the question of the amount of the purchase-money to be paid shall, in the event of disagreement, be referred to 3 [a Civil Court, in accordance with the provisions of Chapter IV]. __________________________ 1. Substituted for.....
View Complete Act List Judgments citing this sectionForward Contracts (Regulation) Act, 1952 Section 19
Title: Prohibition of Options in Goods
State: Central
Year: 1952
(1) Notwithstanding anything contained in this Act or in any other law for the time being in force, all options in goods entered into after the date on which this section comes into force shall be illegal. (2) Any option in goods which has been entered into before the date on which this section comes into force and which remains to be performed, whether wholly or in part, after the said date, shall, to that extent, become void.]
View Complete Act List Judgments citing this sectionRight to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, (Central) Section 108
Title: Option to Affected Families to Avail Better Compensation and Rehabilitation and Resettlement
State: Central
Year: 2013
(1) Where a State law or a policy framed by the Government of a State provides for a higher compensation than calculated under this Act for the acquisition of land, the affected persons or his family or member of his family may at their option opt to avail such higher compensation and rehabilitation and resettlement under such State law or such policy of the State. (2) Where a State law or a policy framed by the Government of a State offers more beneficial rehabilitation and resettlement provisions under that Act or policy than under this Act, the affected persons or his family or member of his family may at his option opt to avail such rehabilitation and resettlement provisions under such State law or such policy of the State instead of under this Act.
View Complete Act List Judgments citing this sectionInfant Milk Substitutes, Feeding Bottles and Infant Foods (Regulation Ofproduction, Supply and Distribution) Act, 1992 Section 15
Title: Power to Give Option to Pay Cost in Lieu of Confiscation
State: Central
Year: 1992
(1) Whenever any confiscation is authorised by this Act, the court adjudging it may, subject to such conditions as may be specified in the order adjudging the confiscation, give to the owner thereof an option to pay in lieu of confiscation such cost not exceeding the value of the infant milk substitute or feeding bottle or infant food or container thereof in respect of which the confiscation is authorised as the court thinks fit. (2) On payment of the cost ordered by the court the seized infant milk substitute or feeding bottle or infant food or container shall be returned to the person from whom it was seized on the condition that such person shall, before making any distribution, sale or supply of such substitute or bottle or food or container, give effect to the provisions of this Act.
View Complete Act List Judgments citing this sectionDepositories Act, 1996 (22 of 1996) Section 8
Title: Options to Receive Security Certificate or Hold Securities with Depository
State: Central
Year: 1996
(1) Every person subscribing to securities offered by an issuer shall have the option either to receive the security certificates or hold securities with a depository. (2) Where a person opts to hold a security with a depository, the issuer shall intimate such depository the details of allotment of the security, and on receipt of such information the depository shall enter in its records the name of the allottee as the beneficial owner of that security.
View Complete Act List Judgments citing this sectionProhibition of Child Marriage Act 2006 Section 3
Title: Child Marriages to Be Voidable at the Option of Contracting Party Being a Child
State: Central
Year: 2006
.....any time but before the child filing the petition completes two years of attaining majority. (4) While granting a decree of nullity under this section, the district court shall make an order directing both the parties to the marriage and their parents or their guardians to return to the other party, his or her parents or guardian, as the case may be, the money, valuables, ornaments and other gifts received on the occasion of the marriage by them from the other side, or an amount equal to the value of such valuables, ornaments, other gifts and money: Provided that no order under this section shall be passed unless the concerned parties have been given notices to appear before the district court and show cause why such order should not be passed.
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