Bare Act Search Results

Export-import Bank of India Act, 1981 Chapter 2

Title: Establishment of the Export-import Bank of India and Incorporation Thereof

State: Central

Year: 1981

.....Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold and dispose of property and to contract, and may, by that name, sue or be sued. (3) The head office of the Exim Bank shall be at Bombay or at such other place as the Central Government may, by notification, specify. (4) The Exim Bank may establish offices, branches or agencies at such places in or outside India as it may consider necessary. Section 4 - Authorised capital 1 [(1) The authorized capital of exim bank shall be one thousand crores of rupees; Provided that the Central Government may be notification, increase the said capital up to two thousand crores of rupees] Provided that the Central Government may, by notification, increase the said capital up to five thousand crores of rupees. (2) The issued capital of the Exim Bank shall be wholly subscribed by the Central Government. ___________________________ 1. Substituted by the Export-Import Bank of India (Amdt.) Act, 1998 w.e.f. 02-01-1999. Prior to Substitution it read as under "The Authorised capital of the Exim Bank shall be two.....

Air (Prevention and Control of Pollution) Act, 1981 Complete Act

State: Central

Year: 1981

AIR (PREVENTION AND CONTROL OF POLLUTION) ACT, 1981 AIR (PREVENTION AND CONTROL OF POLLUTION) ACT, 1981 An Act to provide for the prevention, control and abatement of air pollution, for the establishment, with a view to carrying out the aforesaid purposes, of Boards, for conferring on and assigning to such Boards, powers and functions relating thereto and for matters connected therewith Whereas decisions were taken at the United Nations Conference on the Human Environment held in Stockholm in June, 1972, in which India participated, to take appropriate steps for the preservation of the natural resources of the earth which, among other things, include the preservation of the quality of air and control of air pollution; And whereas it is considered necessary to implement the decisions aforesaid insofar as they relate to the preservation of the quality of air and control of air pollution; Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows CHAPTER I : PRELIMINARY SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Air (Prevention and Control of Pollution) Act, 1981. (2) It extends to the whole of.....

National Bank for Agriculture and Rural Development Act, 1981 Section 37A

Title: Prohibited Business

State: Central

Year: 1981

.....the beneficial interest held by one or more of the directors of the National Bank or by any relative of such director as defined in clause (41) of section 2 of the Companies Act, 1956 (1 of 1956), whether singly or taken together, in the shares of the borrower, the aggregate amount paid-up on which either exceeds five lakhs of rupees or five per cent, of the paid-up share capital of the borrower, whichever is lesser. (2) The provisions of sub-section (1)-- (a) shall not apply to any borrower, if the National Bank is satisfied that it is necessary in the public interest to enter into business with that borrower and entering into any kind of business with such borrower shall be in accordance with and subject to such conditions and limitations, as may be approved by the Board; (b) shall not apply to any transaction relating to the business entered into prior to the commencement of the National Bank for Agriculture and Rural Development (Amendment) Act, 2000, and all such business and any transaction in relation thereto may be implemented or continued as if that Act had not come into force; (c) shall apply only so long as the conditions precedent to such disability as set.....

National Bank for Agriculture and Rural Development Act, 1981 Chapter VII

Title: Other Functions of the National Bank

State: Central

Year: 1981

.....Section 38C - Exemption from compulsory registration 1[38C. Exemption from compulsory registration. -- Notwithstanding anything contained in sub-section (l) of section 17 of the Registration Act, 1908 (16 of 1908)-- (a) any instrument in the form of debt obligations or trust certificate of beneficial interest or any other instrument, by whatsoever name called, issued by the National Bank or the trust created by it to securitise the loans granted by it and not creating, declaring, assigning, limiting or extinguishing any right, title or interest to or in immovable property; or (b) any transfer of such instruments referred to in clause (a), sna'' not require compulsory registration.] ________________________ 1. Inserted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000) Section 39 - Incidental powers The National Bank may also do all such things as may be necessary or incidental to or consequential upon the exercise of its powers, discharge of its functions and the performance of its duties, under this Act, or under any other law for the time being in force. Section 40 - Deposits and investments 1[40. Deposits and.....

National Bank for Agriculture and Rural Development Act, 1981 Section 40

Title: Deposits and Investments

State: Central

Year: 1981

.....keep the moneys deposited with the Reserve Bank or with any agency of the Reserve Bank or with a State co-operative bank or a scheduled bank. (2) Notwithstanding anything contained in sub-section (1) or section 30A, the National Bank may, for beneficial investment of its surplus funds, rediscount bills of exchange or promissory notes arising out of bona fide trade and commercial transactions and also lend repayable at call or short notice to a scheduled bank or any financial institution approved by the Reserve Bank, or invest in certificates of deposit and other instruments or schemes as may be approved by the Board.] ________________________ 1. Substituted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000). Prior to substitution it read as under: "40. Deposits and investments. -- The National Bank may invest its funds in promissory notes, stocks or securities of the Central Government or keep the moneys deposited with the Reserve Bank or with any agency of the Reserve Bank or, in consultation with the Reserve Bank, with a State co-operative bank or a scheduled bank"

National Bank for Agriculture and Rural Development Act, 1981 Chapter VIII

Title: Funds, Accounts and Audit

State: Central

Year: 1981

.....sums of money as the Board may contribute every year to this fund from out of its annual profits; and (c) such gifts, grants, donations or benefactions which the National Bank may receive and which the Board may earmark for this purpose. (2) the Research and Development Fund shall be expended on matters of importance to agriculture, agricultural operations and rural development, including the provision of training and research facilities and the1[making of loans or advances or grants] under clause (iii) of section 38. ________________________ 1. Substituted for "making of grants" by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000) Section 45 - Reserve fund and other funds The National Bank shall establish a Reserve Fund1[and other funds] as the Board may consider necessary by transferring such sums as it may deem fit, out of its annual profits an out of receipts from gifts, grants, donations or benefactions, which it may receive. ________________________ 1. Substituted for "and such other funds" by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000) Section 46 - Preparation of.....

National Bank for Agriculture and Rural Development Act, 1981 Section 47

Title: Disposal of Surplus

State: Central

Year: 1981

.....which is usually provided for by bankers, and for the funds referred to in section 42, 43 and 45, the National Bank shall transfer-- (i) for a period of fifteen years, following the accounting year during which the National Bank is established, the amount remaining (thereafter in this section referred to as surplus) to the Research and Development Fund under section 44; and 1[(ii) after the expiry of the said period of fifteen years, the Board shall, after making provision for the Fund referred to in clause (1), disburse or spend the balance of the surplus in such manner as may be approved by the Board.] ________________________ 1. Substituted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000). Prior to substitution it read as under: "(ii) after the expiry of the said period of fifteen years the National Bank shall, after making provision for the Fund referred to in clause (I), transfer half of the balance of surplus to the Central government and the other half to the Reserve Bank."

National Bank for Agriculture and Rural Development Act, 1981 Chapter X

Title: Miscellaneous

State: Central

Year: 1981

.....under the Credit Information Companies (Regulation) Act, 2005.". _____________________________ 1. Inserted vide Credit Information (Regulation) Act, 2005. Section 52 - Defects in appointment not to invalidate acts etc. (1) No act or proceeding of the Board or of any committee of the National Bank shall be questioned on the ground merely of the existence of any vacancy in, or defect in the constitution of the Board or the committee as the case may be (2) No act done by any person acting in good faith as director of the Board or as a member of a committee of the National Bank shall become invalid merely on the ground that he was disqualified to be a director or that there was any other defect in his appointment. Section 52A - Agreement with National Bank on appointment of directors to prevail 1[52A. Agreement with National Bank on appointment of directors to prevail. -- (1) Where any agreement entered into by the National Bank with a company or a body corporate while granting loans and advances, provides for the appointment by the National Bank of one or more directors of such company or body corporate, such provisions and any appointment of directors made in.....

National Bank for Agriculture and Rural Development Act, 1981 Section 55

Title: [Omitted]

State: Central

Year: 1981

1[****] ________________________ 1. Omitted by the Finance Act, 2001 w.e.f.01. 04. 2002. Prior to omission it read as under: "55. Exemption from income tax etc. -- Notwithstanding anything contained in the Income-tax Act, 1961, or the Companies (Profits) Surtax Act, 1964 or any other enactment for the time being in force relating to tax on income profits, or gains the National Bank shall not be liable to pay income-tax surtax or any other tax in respect of any income profits or gains derived or any amount received by the National Bank"

National Bank for Agriculture and Rural Development Act, 1981 Section 60

Title: Power of Board to Make Regulation

State: Central

Year: 1981

.....of establishment of the National Bank, and any regulation so made may be altered and rescinded by the Board in the exercise of its powers under this Act. (4) The power to make regulations conferred by this section shall include the power to give retrospective effect to the regulations or any of them from a date not earlier than the date of commencement of this Act, but no retrospective effect shall be given to any regulation so as to prejudicially affect the interest of any person to whom such regulation may be applicable. (4) The Central Government shall cause every regulation made under this Act to be laid as soon as may be after it is made before each House of Parliament while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions and if before the expiry of the session immediately following the session or the successive sessions aforesaid both Houses agree in making any modification or annulment shall be without prejudice to the validity of anything previously under that regulation ________________________ 1. Substituted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000.....