Bare Act Search Results

Indian Succession Act, 1925 Part 6

Title: Testamentary Succession

State: Central

Year: 1925

.....of ministers of religion; for the formation or support of a public garden; All these bequests are void. _____________________ 1. Added by Act 51 of 1991, section 6. INDIAN SUCCESSION ACT, 1925Chapter 8 - OF THE VESTING OF LEGACIES Section 119 - Date of vesting of legacy when payment or possession postponed Where by the terms of a bequest the legatee is not entitled to immediate possession of the thing bequeathed, a right to receive it at the proper time shall, unless a contrary intention appears by the will, become vested in the legatee on the testator's death, and shall pass to the legatee's representatives if he dies before that time and without having received the legacy, and in such cases the legacy is from the testator's death said to be vested in interest. Explanation.An intention that a legacy to any person shall not become vested in interest in him is not to be inferred merely from a provision whereby the payment or possession of the thing bequeathed is postponed, or whereby a prior interest therein is bequeathed to some other person, or whereby the income arising from the fund bequeathed is directed to be accumulated until the time of payment arrives,.....

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.....

Indian Succession Act, 1925 Chapter 8

Title: Of the Vesting of Legacies

State: Central

Year: 1925

.....and, upon the death of any of them (except the last survivor) under the age of 18, his vested interest passes, so subject, to his representatives. Section 120 - Date of vesting when legacy contingent upon specified uncertain event (1) A legacy bequeathed in case a specified uncertain event shall happen does not vest until that event happens. (2) A legacy bequeathed in case a specified uncertain event shall not happen does not vest until the happening of that event becomes impossible. (3) In either case, until the condition has been fulfilled, the interest of the legatee is called contingent. Exception.Where a fund is bequeathed to any person upon his attaining a particular age, and the will also gives to him absolutely the income to arise from the fund before he reaches that age, or directs the income, or so much of it as may be necessary, to be applied for his benefit, the bequest of the fund is not contingent. Illustration (i) A legacy is bequeathed to D in case A, B and C shall all die under the age of 18. D has a contingent interest in the legacy until A, B and C all die under 18, or one of them attains that age. (ii) A sum of money is bequeathed to A "in case.....

Indian Succession Act, 1925 Section 119

Title: Date of Vesting of Legacy when Payment or Possession Postponed

State: Central

Year: 1925

Where by the terms of a bequest the legatee is not entitled to immediate possession of the thing bequeathed, a right to receive it at the proper time shall, unless a contrary intention appears by the will, become vested in the legatee on the testator's death, and shall pass to the legatee's representatives if he dies before that time and without having received the legacy, and in such cases the legacy is from the testator's death said to be vested in interest. Explanation.An intention that a legacy to any person shall not become vested in interest in him is not to be inferred merely from a provision whereby the payment or possession of the thing bequeathed is postponed, or whereby a prior interest therein is bequeathed to some other person, or whereby the income arising from the fund bequeathed is directed to be accumulated until the time of payment arrives, or from a provision that, if a particular event shall happen, the legacy shall go over to another person. Illustrations (i) A bequeaths to B 100 rupees, to be paid to him at the death of C. On A's death the legacy becomes vested in interest in B, and if he dies before C, his representatives are entitled to the legacy.

Companies (Particulars of Employees) Rules, 1975 Complete Act

State: Central

Year: 1975

.....than rupees per financial year for the purpose of sub-clause (i) of clause (a) of sub-section (2A); and (b) not less than rupees per month, for the purposes of sub-clause (ii) of clause (a) of sub-section (2A). 2. Particulars of employees.- The statement to be included in the Board's report under sub-section (2A) of section 217 of the Companies Act, 1956 (1 of 1956), shall also contain the following particulars, namely:- (a) Designation of the employee. (b) Remuneration received. (c) Nature of employment, whether contractual or otherwise. (d) Other terms and conditions. (e) Nature of duties of the employee. (f) Qualifications and experience of the employee. (g) Date of commencement of employment. (h) The age of such employee. (i) The last employment held by such employee before joining the company. (j) the percentage of equity shares held by the employee in the company within the meaning of sub-clause (iii) of clause (a) of sub-section (2A) of section 217 of the Act. Central Bare Acts

Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988 Complete Act

State: Central

Year: 1988

.....1989. 2. Every company shall, in the report of its board of directors.-disclose particulars with respect to the following matters, namely:- A. Conservation of energy - (a) energy conservation measures taken; (b) additional investments and proposals, if any, being implemented for reduction of consumption of energy; (c) impact of the measures at (a) and (b) above for reduction of energy consumption and consequent impact on the cost of production of goods; (d) total energy consumption and energy consumption per unit of production as per Form A of the Annexure in respect of industries specified in the Schedule thereto. B. Technology absorption- (e) efforts made in technology absorption as per Form B of the Annexure: C. Foreign exchange earnings and outgo- (f) activities relating to exports; initiatives taken to increase exports; development of new export markets for products and services and export plans: (g) total foreign exchange used and earned. Central Bare Acts

Indian Succession Act, 1925 Chapter 8

Title: Of Assent to a Legacy by Executor or Administrator

State: Central

Year: 1925

.....of the fund to A. This is an implied assent to the bequest to B. (iv) Executors die after paying all the debts of the testator, but before satisfaction of specific legacies. Assent to the legacies may be presumed. (v) A person to whom a specific article has been bequeathed takes possession of it and retains it without any objection on the part of the executor. His assent may be presumed. Section 334 - Conditional assent The assent of an executor or administrator to a legacy may be conditional and if the condition is one which he has a right to enforce, and it is not performed, there is no assent. Illustrations (i) A bequeaths to B his lands of Sultanpur, which at the date of the Will, and at the death of A were subject to a mortgage for 10,000 rupees. The executor assents to the bequest, on condition that B shall within a limited time pay the amount due on the mortgage at the testator's death. The amount is not paid. There is no assent. (ii) The executor assents to a bequest on condition that the legatee shall pay him a sum of money. The payment is not made. The assent is nevertheless valid. Section 335 - Assent of executor to his own legacy (1) When the.....

Indian Succession Act, 1925 Chapter 10

Title: Of the Investment of Funds to Provide for Legacies

State: Central

Year: 1925

.....such annuity can be obtained, then a sum sufficient to produce the annuity shall be invested for that purpose in securities of the kind mentioned-in section 341. Section 344 - Transfer to residuary legatee of contingent bequest Where a bequest is contingent, the executor or administrator is not bound to invest the amount of the legacy, but may transfer the whole residue of the estate to the residuary legatee, if any, on his giving sufficient security for the payment of the legacy, if it shall become due. Section 345 - Investment of residue bequeathed for life, without direction to invest in particular securities (1) Where the testator has bequeathed the residue of his estate to a person for life without any direction to invest it in any particular securities, so much thereof as is not at the time of the testator's decease invested in securities of the kind mentioned in section 341 shall be converted into money and invested in such securities. (2) This section shall not apply if the deceased was a Hindu, Muhammadan, Buddhist, Sikh or Jaina or an exempted person. Section 346 - Investment of residue bequeathed for life, with direction to invest in specified securities .....

Indian Succession Act, 1925 Section 120

Title: Date of Vesting when Legacy Contingent Upon Specified Uncertain Event

State: Central

Year: 1925

(1) A legacy bequeathed in case a specified uncertain event shall happen does not vest until that event happens. (2) A legacy bequeathed in case a specified uncertain event shall not happen does not vest until the happening of that event becomes impossible. (3) In either case, until the condition has been fulfilled, the interest of the legatee is called contingent. Exception.Where a fund is bequeathed to any person upon his attaining a particular age, and the will also gives to him absolutely the income to arise from the fund before he reaches that age, or directs the income, or so much of it as may be necessary, to be applied for his benefit, the bequest of the fund is not contingent. Illustration (i) A legacy is bequeathed to D in case A, B and C shall all die under the age of 18. D has a contingent interest in the legacy until A, B and C all die under 18, or one of them attains that age. (ii) A sum of money is bequeathed to A "in case he shall attain the age of 18", or "when he shall attain the age of 18". A's interest in the legacy is contingent until the condition is fulfilled by his attaining that age. (iii) An estate is bequeathed to A for life, and after his

Indian Succession Act, 1925 Chapter 15

Title: Of Demonstrative Legacies

State: Central

Year: 1925

.....of Ramnagar". (iii) A bequeaths to B "10,000 rupees out of my estate at Ramnagar", or charges it on his estate at Ramnagar: "10,000 rupees, being my share of the capital embarked in a certain business". Each of these bequests is demonstrative. Section 151 - Order of payment when legacy directed to be paid out of fund the subject of specific legacy Where a portion of a fund is specifically bequeathed and a legacy is directed to be paid out of the same fund, the portion specifically bequeathed shall first be paid to the legatee, and the demonstrative legacy shall be paid out of the residue of the fund and, so far as the residue shall be deficient, out of the general assets of the testator. Illustration A bequeaths to B 1,000 rupees, being part of a debt due to him from W. He also bequeaths to C 1,000 rupees to be paid out of the debt due to him from W. The debt due to A from W is only 1,500 rupees; of these 1,500 rupees, 1,000 rupees belong to B, and 500 rupees are to be paid to C. C is also to receive 500 rupees out of the general assets of the testator.