Bare Act Search Results

Indian Trusts Act, 1882 Section 88

Title: Advantage Gained by Fiduciary

State: Central

Year: 1882

.....a company, legal advisor, or other person bound in a fiduciary character to protect the interests of another person, by availing himself of his character, gains for himself any pecuniary advantage, or where any person so bound enters into any dealings under circumstances in which his own interests are, or may be, adverse to those of such other person and thereby gains for himself a pecuniary advantage, he must hold for the benefit of such other person the advantage so gained. Illustrations (a) A, an executor, buys a tan undervalue from B, a legatee, his claim under the will, B is ignorant of the value of the bequest. A musthold for the benefit of B the difference between the price and value. (b) A, a trustee, uses the trust- property for the purpose of his own business. A holds for the benefit of his beneficiary the profits arising from such user. (c) A, a trustee, retires from his trust in consideration of his successor paying him a sum of money. A holds such money for the benefit of his beneficiary. (d) A, a partner, buys land in his own name with funds belonging to the partnership. A holds such land for the benefit of the partnership. (e) A, a partner, employed on.....

International, Airports Authority Act, 1971 Complete Act

State: Central

Year: 1971

.....or such other member or such officer of the Authority as may be generally or specially empowered in this behalf by the Authority and such contracts or class of contracts as may be specified in the regulations shall be sealed with the common seal of the Authority: Provided that no contract exceeding such value or amount as the Central Government may, from time to time, by order, fix in this behalf shall be made unless it has been previously approved by the Authority: Provided further that no contract for the acquisition or sale of immovable property or for the lease of any such property for a term exceeding thirty years and no other contract exceeding such value or amount as the Central Government may, from time to time, by order, fix in this behalf shall bemade unless it has been previously approved by the Central Government. (2), Subject to the provisions of sub-section (1), the form and manner in which any contract shall be made under this Act shall be such as may be prescribed by regulations. (3) No contract which is not in accordance with the provisions of this Act and the regulations shall be binding on the Authority. SECTION 16: FUNCTIONS OF THE AUTHORITY (1) Subject.....

Trusts Act, 1882 Complete Act

State: Central

Year: 1882

.....known it, or when information of the fact is given to or obtained by his agent, under the circumstances mentioned in the section 229 Indian Contract Act, 1872 (9 of 1872)-, ; and all expressions used herein and defined in the Indian Contract Act, 1872 (expressions defined in Act 9 of 1872), shall be deemed to have the meanings respectively attributed to them by that Act. SECTION 04: LAWFUL PURPOSE. A trust may be created for any lawful purpose. The purpose of a trust is lawful unless it is (a) forbidden by law, or (b) is of such a nature that, if permitted, it would defeat the provisions of any law, or (c) is fraudulent, or (d) involves or implies injury to the person or property of another, or (e) the Court regards it as immoral or opposed to public policy. Every trust of which the purpose is unlawful is void. And where a trust is created for two purposes, of which one is lawful and the other unlawful, and the two purposes, cannot be separated, the whole trust is void. SECTION 05: TRUST OF IMMOVABLE PROPERTY No trust in relation to immoveable property is valid unless declared by a non-testamentary instrument in writing signed by the author of the trust or the.....

Prevention of Corruption Act, 1988 Chapter III

Title: Offences and Penalties

State: Central

Year: 1988

.....on his behalf, is in possession or has, at any time during the period of his office, been in possession for which the public servant cannot satisfactorily account, of pecuniary resources or property disproportionate to his known sources of income. Explanation. For the purposes of this section, "known sources of income" means income received from any lawful source and such receipt has been intimated in accordance with the provisions of any law, rules or orders for the time being applicable to a public servant. (2) Any public servant who commits criminal misconduct shall be punishable with imprisonment for a term which shall be not less than one year but which may extend to seven years and shall also be liable to fine. Section 14 - Habitual committing of offence under sections 8, 9 and 12 Whoever habitually commits (a) an offence punishable under section 8 or section 9; or (b) an offence punishable under section 12,shall be punishable with imprisonment for a term which shall be not less than two years but which may extend to seven years and shall also be liable to fine. Section 15 - Punishment for attempt Whoever attempts to commit an offence referred to in.....

Indian Trusts Act, 1882 Chapter IX

Title: Of Certain Obligations in the Nature of Trusts

State: Central

Year: 1882

.....performance could be enforced, the former must hold the property for the benefit of the latter to the extent necessary to give effect to the contract. Section 92 - Purchase by person contracting to buy property to be held on trust Where a person contracts to buy property to be held on trust for certain beneficiaries and buys the property accordingly, he must hold the property for their benefit to the extent necessary to give effect to the contract. Section 93 - Advantage secretly gained by one of several compounding creditors Where creditors compound the debts due to them, and one of such creditors, by a secret arrangement with the debtor, gains an undue advantage over his co-creditors, he must hold for the benefit of such creditors the advantage so gained. Section 94 - Constructive trust in cases not expressly provided for (Rep. by the Benami Transactions (Prohibition) Act, 1988, sec. 7 (w.e.f. 19.5.1988)). Illustrations (a) A, an executor, distributes the assets of his testator B to the legatees without having paid the whole of B's debts. The legatees hold for the benefit of B's creditors, to the extent necessary to satisfy their just demands, the assets so.....

The Prevention of Corruption Act, 1988 Complete Act

State: Central

Year: 1988

.....he knows to be inadequate, from any person whom he knows to have been, or to be, or to be likely to be concerned in any proceeding or business transacted or about to be transacted by such public servant, or having any connection with the official functions of himself or of any public servant to whom he is subordinate, or from any person whom he knows to be interested in or related to the person so concerned, shall be punishable with imprisonment for a term which shall be not less than six months but which may extend to five years and shall also be liable to fine. 12.Punishment for abetment of offences defined in section 7 irregular 11 .- Whoever abets any offence punishable under section 7 or section 11 whether or not that offence is committed in consequence of that abetment, shall be punishable with imprisonment for a term which shall be not less than six months but which may extend to five years and shall also be liable to five. 13.Criminal, misconduct by a public servant .- (1) A public servant is said to commit the offence of criminal misconduct, -- (a) if he habitually accepts or obtained or agrees to accept or attempts to obtain from any person for himself or.....

Prevention of Corruption Act, 1988 Section 13

Title: Criminal, Misconduct by a Public Servant

State: Central

Year: 1988

.....person any valuablething or pecuniary advantage; or (iii) while holding office as a public servant, obtains for any person any valuable thing or pecuniary advantage without any public, interest; or (e) if he or any person on his behalf, is in possession or has, at any time during the period of his office, been in possession for which the public servant cannot satisfactorily account, of pecuniary resources or property disproportionate to his known sources of income. Explanation. For the purposes of this section, "known sources of income" means income received from any lawful source and such receipt has been intimated in accordance with the provisions of any law, rules or orders for the time being applicable to a public servant. (2) Any public servant who commits criminal misconduct shall be punishable with imprisonment for a term which shall be not less than one year but which may extend to seven years and shall also be liable to fine.

Oil Industry (Development) Act, 1974 Complete Act

State: Central

Year: 1974

.....under section 10-in respect of such concern shall be entitled to any compensation for the loss of office or for the premature termination under this Act of the contract entitling him to be in charge of such management. (2) Nothing contained in sub-section (1) shall affect the right of any Director or other person referred to therein to recover from the oil industrial concern moneys recoverable otherwise than by way of such compensation. (1) Where the management of an oil industrial concern, being a company as defined in the Companies Act, 1956-, is taken over by the Board, then, notwithstanding anything contained in the said Act or in the memorandum or articles of association of such concern,- (a) it shall not be lawful for the shareholders of such concern or any other person to nominate or appoint any person to be a Director of such concern; (b) no resolution passed at any meeting of the shareholders of such concern shall be given effect to unless approved by the Board; (c) no proceeding for the winding up of such concern or for the appointment of a receiver in respect thereof shall lie in any court, except with the consent of the Board. (2) Subject to the provisions contained.....

The Punjab Lokpal Act, 1996 Complete Act

State: Punjab

Year: 1996

THE PUNJAB LOKPAL ACT, 1996 THE PUNJAB LOKPAL ACT, 1996 [Act No. 3 of 1997] [16th January, 1997] PREAMBLE 1 2 3 4 Year No. Short title Whether repealed or otherwise affected by legislation 1997 3 The Punjab Lokpal Act, 1996 2Amended by Punjab Act 1 of 1998. An Act to remove certain deficienies in the Punjab Lokpal Act, 1995 and to provide for certain safe-guards which were missing in this Act 3[***] to secure proper investigation of enquiry against publicmen and thereby ensuring eradication of corruption, adherence to the rule of law by observing rules of natural justice. Be it enacted by the Legislature of the State of Punjab in the Forty-seventh Year of the Republic of India, as follows :" Section 1 - Short title and Commenceme (1) This Act may be called the Punjab Lokpal Act, 1996. (2) It shall come into force immediately. Section 2 " Definitions In this Act, unless the context otherwise requires" (a) "competent authority" in relation to a complaint against a public man means the Governor; (b) "complaint" means a complaint alleging that a public man has, while holding any of the offices referred to in clause (k) committed.....

Prevention of Corruption Act, 1947 Complete Act

State: Central

Year: 1947

.....he knows to be inadequate, from any person whom he knows to have been, or to be, or to be likely to be concerned in any proceeding or business transacted or about to be transacted by him, or having any connection with the official functions of himself or of any public servant to whom he is subordinate, or from any person whom he knows to be interested in or related to the person so concerned, or (c) if he dishonestly or fraudulently misappropriates or otherwise converts for his own use any property entrusted to him or under his control as a public servant or allows any other person so to do, or (d) if he, by corrupt or illegal means or by otherwise abusing his position as a public servant, obtains for himself or for any other person any valuable thing or pecuniary advantage; 3 (b) [b] Inserted.by the Anti-Corruption Laws (Amendment) Act., 1964 (40 of 1964), S. 6 (18-12-1964). [or]3 (b) [b] Inserted.by the Anti-Corruption Laws (Amendment) Act., 1964 (40 of 1964), S. 6 (18-12-1964). [(e) if he, or any person on his behalf is in possession of or has, at any time during the period of his office, been in possession, for which the public servant cannot satisfac torily account, of.....