Bare Act Search Results

Major Port Trusts Act, 1963 Section 85

Title: Power of Board to Take Temporary Loans or Overdrafts

State: Central

Year: 1963

Notwithstanding anything contained in this Act, a Board may borrow moneys by means of temporary overdraft or, otherwise by pledging the securities held by the Board in its reserve funds or on the security of the fixed deposits of the Board in its banks: Provided that such temporary overdrafts or other loans-- (a) shall not at any time have a longer currency than six months; and (b) shall not be taken, without the previous sanction of the Central Government, if at any time in any year the amount of such overdrafts or other loans exceeds1[such amount as the Central Government may fix in this behalf and different amounts may be fixed with respect to different Boards]: Provided further that all moneys so borrowed by temporary overdrafts or otherwise shall be expended for the purposes of this Act. ________________________ 1 . Substituted for the words "such amount not exceeding ten lakhs of rupees, as the Central Government may fix in this behalf" by the Major Port Trusts (Amendment) Act (17 of 1982), Section 14(31-5-1982).

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.....

The Major Port Trusts Act, 1963 Complete Act

State: Kerala

Year: 1963

THE MAJOR PORT TRUSTS ACT, 1963 THE MAJOR PORT TRUSTS ACT, 1963 [Act No. 38 of 1963 dated 16th. October, 1963] CHAPTER I: PRELIMINARY 1. Short title commencement and application 2. Definitions CHAPTER II : BOARD OF TRUSTEES AND COMMITTEES THEREOF 3. Constitution of Board of Trustees 4. First Board of Trustees 5. Board to be body corporate 6. Disqualification for office of Trustee 7. Term of office of Trustees 8. Vacation of office of Trustees 9. Eligibility of Trustee for re-appointment or re-election 10. Filling of vacancies in office of Trustee 11. Saying provision for appointment of Trustee by Central Government after prescribed period 12. Power of Central Government to extend time for election or appoint Trustees in default of election 13. Term of office In case of certain trustees 14. Absence of Chairman and Deputy Chairman 16[14 A. Acting Chairman or Deputy Chairman 15. Conditions of service of Chairman and Deputy Chairman 16. Meetings of Board 2 of 59 17. Committees of Board 18. Fees and allowances payment Trustees 19. Restriction of power of Trustees to vote in certain cases 20. Defects In appointments or.....

Major Port Trusts Act, 1963 Chapter VII

Title: Borrowing Powers of Board

State: Central

Year: 1963

..... Section 68 - Right of survivors of joint or several payees of securities (1) Notwithstanding anything contained in section 45 of the Indian Contract Act, 1872,-- (a) when any Port Trust security is payable to two or more persons jointly, and either or any of them dies, the Port Trust security shall be payable to the survivor or survivors of those persons, and (b) when any such security is payable to two or more persons severally and either or any of them dies, the security shall be payable to the survivor or survivors of those persons, or to the representatives of the deceased, or to any of them. (2) This section shall apply whether such death occurred or occurs before or after the appointed day.; (3) Nothing herein contained shall affect any claim which any representative of a deceased person may have against the survivor or survivors under or in respect, of any security to which sub-section (1) applies. (4) For the purposes of this section, a body incorporated or deemed to be incorporated under the Companies Act, 1956, or the Co-operative Societies Act, 1912, or any other enactment for the time being in force, whether within or without India, shall be deemed to.....

Major Port Trusts Act, 1963 Complete Act

State: Central

Year: 1963

.....property" includes wharfage-rights and all other rights exercisable on, over, or in respect of, any land, wharf, dock or pier;] (j) "Indian Ports Act" means the Indian Ports Act, 1908; (k) "land" includes the bed of the sea or river below high-water mark, and also things attached to the earth or permanently fastened to anything attached to the earth; (l) "low-water mark", in relation to a port, means a line drawn through the lowest points reached by ordinary springtides at any season of the year at that port; (m) "major port" has the same meaning as in the Indian Ports Act; (n) "master", in relation to any vessel or any aircraft making use of any port, means any person having for the time being the charge or control of such vessel or such aircraft, as the case may be, except a pilot, harbour master, assistant harbour master, dock master or berthing master of the port; - (o) "owner", (i) in relation to goods, includes any consignor, consignee, shipper or agent for the sale, custody, loading or unloading of such goods; and (ii) in relation to any vessel or any aircraft making use of any port, includes any part-owner, character, consignee or mortgagee in possession thereof; (p).....

Maharashtra Maritime Board Act, 1996 Complete Act

State: Maharashtra

Year: 1996

.....part in any deliberation or decision of the Board or the Committee with respect to that matter. SECTION 14: DEFECTS IN APPOINTMENT NOT TO INVALIDATE ACTS, ETC. No act or proceeding of the Board or of any of its Committees shall be invalid merely by reason of,- (a)any vacancy therein or any defect in the constitution thereof; (b)any disqualification or any defect in the appointment of, a person acting as a member thereof; or (c)any member having acted or taken part in any proceedings in contravention of section 13; (d)any irregularity in its procedure not affecting merits of the case. SECTION 15: DELEGATION OF POWERS The Board may, with the previous approval of the State Government, direct that such of the powers and duties conferred or imposed upon the Board by or under this Act as may be specified in such direction, may also be exercised or performed by the Chief Executive Officer subject to such conditions and restrictions as may be specified in such direction. SECTION 16: DUTIES OF CHAIRMAN ETC. (1)It shall be the duty of the Chairman, the Vice-Chairman. and the Chief Executive Officer to attend every meeting of the Board unless prevented by sickness or other reasonable cause......

West Bengal Maritime Board Act, 2000 Complete Act

State: West Bengal

Year: 2000

.....of the Board with respect to any matter in which he has such interest or is so interested. Section 14 Defects in appointment not to invalidate acts etc No act or proceeding of the Board or of any Committee of the Board shall be invalid merely by reason of (a) any vacancy therein or any defect in the constitution thereof; or (b) any disqualification, or any defect in the appointment, of a person acting as a member thereof; or (c) any member having acted or taken part in any proceedings in contravention of the provisions of section 13; or (d) any irregularity in its procedure not affecting the merits of the case. Section 15 Delegation of powers The Board may, with the approval of the State Government, direct that (a) such of the powers and duties conferred or imposed upon the Board by or under this Act as may be specified in such direction may also be exercised or performed by the Chairman, or (b) such of the powers and duties conferred or imposed on the Chairman by or under this Act as may be specified in such direction may also be exercised or performed by the Vice-Chairman, subject to such conditions and restrictions as may be specified in such direction: Provided.....

Capital Issues (Control) Act, 1947 Complete Act

State: Central

Year: 1947

.....to provide for 1[* *] control over issues of capital. WHEREAS it is expedient to provide for1[* *] control over issues of capital; It is hereby enacted as follows The Act has been extended to the new provinces and merged States bythe Merged States (Laws) Act, 1949) (59 of 1949), S. 3 (1-1- 1950) and to the Union Territories (now States) of Manipur. Tripura & Vindhya Pradesh bythe Union Territories (Laws) Act. 1950 (30 of 1950) . S. 3 (16-4-1950). Vindhva Pradesh now forms part of the State of Madhya Pradesh-See C. A. 37 of 1956. S. 9 (1 )(a) (1-11-1956). The Act now extends to the Union Territories of- (1) Goa. Daman and Din - -see Regn. 12 of 1962 (24- 1-1963). [Goa is now a State - See Act 18 of 1987. S.3 (30-5-1987). (2) Dadra and Nagar Haveli - Act as in force in the State of Gujarat is extended to this territory with effect from 1-1- 1966 - See Gazette of India. 18-12-65. Pt. II. S. 3(l). p. 2016. (3) Pondicherry. by Regn. 7 of 1963 (1-10-1963). (4) Laccadive Minicoy and Amindivi Islands by Regn. 8 of 1965 (1-10- 1967). These are now known as Lakshadweep Islands - See Act 34 of 1973. SECTION 01: SHORT TITLE, EXTENT AND DURATION - (1) This Act may be called.....

Delhi Cooperative Societies Act, 1972 Complete Act

State: Delhi

Year: 1972

.....as member of a co-operative society except the following, namely : (a) an individual competent to contract under Section 11 of the Indian Contract Act, 1972 (b) any other co-operative society (c) the Central Government; and (d) such class or classes of persons or association of persons as may be notified by the Lieutenant-Governor in his behalf : Provided that the provisions of clause (a) shall not apply to an individual seeking admission to a society exclusively formed for the benefit of students of a school or college (2) Notwithstanding anything contained in sub-section (1), the Lieutenant- Governor may, having regard to the fact that the interest of any person or class of persons conflicts or is likely to conflict with the objects of any society or class of societies, by general or special order, published in the Delhi Gazette, declare that any person or class of persons engaged in or carrying on any profession, business or employment shall be disqualified from being admitted, or for continuing as members or shall be eligible for membership only to a limited extent of any specified society or class of societies, so long as such person is or such persons are.....

Banking Regulation Act, 1949 Section 56

Title: Act to Apply to Co-operative Societies Subject to Modifications

State: Central

Year: 1949

.....for the purposes of this section and section 24, specify from time totime, with reference to any transaction or class of transactions, that suchtransaction or transactions shall be regarded as liability in India of aco-operative bank, and, if any question arises to whether any transaction orclass of transactions shall be regarded for the purposes of this section andsection24, as liability in India of a co-operative bank, the decision of theReserve Bank thereon, shall be final."]; (k) for section 19,the following section shall be substituted, namely:- "19. Restriction on holding shares in otherco-operative societies. -No co-operative bank shall hold shares in any otherco-operative society except to such extent and subject to such conditions asthe Reserve Bank may specify in that behalf: Provided that nothing contained in this section shall applyto- (i) shares acquiredthrough funds provided by the State Government for that purpose; (ii) in the case ofa Central co-operative bank, the holding of shares in the State co-operativebank to which it is affiliated; (iii) in the case ofa primary co-operative bank, the holding of shares in the Central co-perativebank to which it.....