Bare Act Search Results

Offshore Areas Mineral (Development and Regulation) Act, 2002 Chapter II

Title: General Provisions for Acquition of Operating Rights in the Offshore Areas

State: Central

Year: 2002

.....anything contained in this Act, the Central Government may-- (a) authorise seaward artillery practice under the Seaward Artillery Practice Act, 1949 (8 of 1949); (b) provide for, by notification in the Official Gazette, special measures to ensure public safety and interest, the defence of India and civil defence, conduct of the naval operations and exercises, national security and other strategic considerations and the matters connected therewith during war like conditions or otherwise. (4) No operating right shall be granted or renewed otherwise than in accordance with the provisions of this Act and the rules made thereunder and any reconnaissance permit, exploration licence or production lease granted, renewed or acquired in contravention of the provisions of this Act or any rules made thereunder, shall be void. Section 6 - Grant of operating right The Central Government shall not grant an operating right to any person unless such person-- (a) is an Indian national, or a company as defined in section 3 of the Companies Act, 1956 (1 of 1956); and (b) satisfies such conditions as may be prescribed: Provided that no production lease for atomic.....

Offshore Areas Mineral (Development and Regulation) Act, 2002 Complete Act

State: Central

Year: 2002

.....Notwithstanding anything contained in this Act, the Central Government may" (a) authorise seaward artillery practice under the Seaward Artillery Practice Act. 1949 (8 of 1949); (b) provide for, by notification in the Official Gazette, special measures to ensure public safety and interest, the defence of India and civil defence, conduct of the naval operations and exercises, national security and other strategic - considerations and the matters connected therewith during war like conditions or otherwise. (4) No operating right shall be granted or renewed otherwise than in accordance with the provisions of this Act and the rules made there under and any reconnaissances permit exploration licence or production lease granted, renewed or acquired in contravention of the provisions of this Act or any rules made there under, shall be void. SECTION 06: GRANT OF OPERATING RIGHT The Central Government shall not grant an operating right to any person unless such person" (a) is an Indian national, or a company as defined in Section 3 of the Companies Act, 1956 (1 of 1956); and (b) satisfies such conditions as may be prescribed : Provided that no production lease for atomic minerals or.....

Offshore Areas Mineral (Development and Regulation) Act, 2002 Section 7

Title: Termination of Operating Right

State: Central

Year: 2002

.....communication, ensuring safety of any offshore structure or conservation of mineral resources, the Central Government may prematurely terminate any operating right in respect of any mineral in any offshore area or part thereof. (2) No order for premature termination of operating right under sub-section (1) shall be made except after giving the holder of operating right a reasonable opportunity of being heard. (3) Where the holder of any operating right fails to commence operation within the period specified in section 14 or discontinues the operation for a period of two years, the operating right shall lapse from the date of execution of the lease or, as the case may be, discontinuance of the operation: Provided that the administering authority, on an application made by the holder of operating right and after being satisfied that such non-commencement of operation or discontinuation thereof, is due to the reasons beyond the control of the holder of operating right, may condone such non-commencement or discontinuation.

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Chapter III

Title: Enforcement of Security Interest

State: Central

Year: 2002

.....management of the business of the borrower shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with the borrower. (2) Nothing contained in sub-section (1) shall affect the right of any such managing director or any other director or manager of any such person in charge of management to recover from the business of the borrower, moneys recoverable otherwise than by way of such compensation. Section 17 - Right to appeal (1) Any person (including borrower), aggrieved by any of the measures referred to in sub-section (4) of section 13 taken by the secured creditor or his authorised officer under this Chapter,1[may make an application along with such fee, as may be prescribed,] to the Debts Recovery Tribunal having jurisdiction in the matter within forty-five days from the date on which such measure had been taken. 2["Provided that different fees may be prescribed for making the application by the borrower and the person other than the borrower. Explanation- For the removal of doubts, it is hereby declared that the communication of reasons to the borrower by the.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 16

Title: No Compensation to Directors for Loss of Office

State: Central

Year: 2002

(1) Notwithstanding anything to the contrary contained in any contract or in any other law for the time being in force, no managing director or any other director or a manager or any person in charge of management of the business of the borrower shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with the borrower. (2) Nothing contained in sub-section (1) shall affect the right of any such managing director or any other director or manager of any such person in charge of management to recover from the business of the borrower, moneys recoverable otherwise than by way of such compensation.

Unit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Chapter 2

Title: Transfer and Vesting of the Undertaking of Trust in the Specified Company and Transfer and Vesting of the Specified Undertaking of Trust in the Administrator

State: Central

Year: 2002

.....in which the undertaking or specified undertaking has vested by virtue of this Act as it might have been enforced by or against the Trust if this Act had not been enacted and shall cease to be enforceable by or against the Trust. Section 6 - Provisions in respect of officers and other employees of Trust (1) Every officer or other employee of the Trust (except a trustee of the Board, the Chairman and executive trustee) serving in the employment immediately before the appointed day shall become, as from the appointed day, an officer or, as the case may be, other employee of the specified company and shall hold his office or service therein by the same tenure, at the same remuneration, upon the same terms and conditions, with the same obligations and with the same rights and privileges as to leave, leave fare concession, welfare scheme, medical benefit scheme, insurance, provident fund, other funds retirement, voluntary retirement, gratuity and other benefits as he would have held under the Trust if its undertaking had not vested in the specified company and shall continue to do so as an officer or, as the case may be, other employee of the specified company or until the.....

Unit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Section 6

Title: Provisions in Respect of Officers and Other Employees of Trust

State: Central

Year: 2002

.....fund or the gratuity fund of the Unit Trust of India and any other bodies created for the welfare of officer or other employees would continue to discharge their functions in the specified company as was being done hither to in the Unit Trust of India and any tax exemption granted to the provident fund or the gratuity fund would continue to be applied to the specified company. (7) Notwithstanding anything contained in this Act or in the Companies Act, 1956 (1 of 1956) or in any other law for the time being in force or in the regulations of the Unit Trust of India, the Chairman, the trustees, executive trustee or any other person entitled to manage the whole or substantial part of the business and affairs of the Trust shall not be entitled to any compensation against the Trust for the loss of office or for the premature termination of any contract of management entered into by him with the Trust.

Competition Act, 2002 Chapter 9

Title: Miscellaneous

State: Central

Year: 2002

..... 1. Effective from 19.06.2003 by Notification No. SO 715 (E) Dated 19.06.2003. 2. Substituted by the Competition (Amendment) Act, 2007 [Act No. 39 of 2007] for the words "the Commission", w.e.f. 12.10.2007. Section 58 - Chairperson, Members, Director General, Secretary, officers and other employees etc., to be public servants 2[58. Chairperson, Members, Director General, Secretary, officers and other employees etc., to be public servants.-- The Chairperson and other Members and the Director General, Additional, Joint, Deputy or Assistant Directors General and Secretary and officers and other employees of the Commission and the Chairperson, Members, officers and other employees of the Appellate Tribunal shall be deemed, while acting or purporting to act in pursuance of any of the provisions of this Act, to be public servants within the meaning of section 21 of the Indian Penal Code.] _______________________ 1. Effective from 19.06.2003 by Notification No. SO 715 (E) Dated 19.06.2003. 2. Substituted by the Competition (Amendment) Act, 2007 [Act No. 39 of 2007] w.e.f. 12.10.2007. Prior to substitution it read as: .....

Competition Act, 2002 Section 66

Title: Repeal and Saving

State: Central

Year: 2002

.....the said Act (hereafter referred to as the repealed Act) shall stand dissolved: 9[***] (1A) The repeal of the Monopolies and Restrictive Trade Practices Act, 1969(54 of 1969) shall, however, not affect,-- (a) the previous operation of the Act so repealed or anything duly done or suffered thereunder; or (b) any right, privilege, obligation or liability acquired, accrued or incurred under the Act so repealed; or (c) any penalty, confiscation or punishment incurred in respect of any contravention under the Act so repealed; or (d) any proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty, confiscation or punishment as aforesaid, and any such proceeding or remedy may be instituted, continued or enforced, and any such penalty, confiscation or punishment may be imposed or made as if that Act had not been repealed.] (2) On the dissolution of the Monopolies and Restrictive Trade Practices Commission, the person appointed as the Chairman of the Monopolies and Restrictive Trade Practices Commission and every other, person appointed as Member and Director General of Investigation and Registration, Additional, Joint, Deputy, or Assistant.....

Offshore Areas Mineral (Development and Regulation) Act, 2002 Section 10

Title: Availability of Areas for Grant of Permit, Licence or Lease

State: Central

Year: 2002

(1) Within six months from the date of commencement of this Act, and subsequently at such times as may be considered necessary in this behalf by the administering authority, it shall, by notification in the Official Gazette, declare the parts of the offshore areas which shall be available for grant of reconnaissance permit, exploration licence or production lease. (2) Any application for the grant of reconnaissance permit, exploration licence or production lease in respect of any area not covered by a notification issued under sub-section (1) shall be deemed to be premature and no application shall be entertained therefor. (3) Operating rights shall be granted in standard block of five minutes longitude by five minutes latitude and such grant may cover more than one standard block which shall be contiguous.