Bare Act Search Results

Indira Gandhi National Open University Act, 1985 Schedule II

Title: Second Schedule

State: Central

Year: 1985

.....of the two Schemes set out in Appendices A and B and he shall have for the purpose of these schemes the benefit of the service rendered under contract, if the retirement benefits under the contract terms are paid back by him to the University. 6(a) Transfer of employees from Central Government, Central University or Autonomous Bodies of Central Government. Where an employee of Central Government Central University/Autonomous Body of Central Government including a statutory body is permanently absorbed in the University, such of the past services rendered by him as would have counted for retirement benefits in that Government Organisation shall count for retirement benefits payable by the University subject to the following: (a) The transfer is with the consent of the parent Government/Organisation and is in public interest. (b) The employee has not opted to receive pro-rata retirement benefits from the parent Government/Organisation. (c) The Central Government/Autonomous Bodies of Central Government including a statutory body, discharges its pension liability, paying in lump sum, by a one time payment, the pro-rata pension service gratuity/terminal gratuity and.....

Indira Gandhi National Open University Act, 1985 Complete Act

State: Central

Year: 1985

.....in the Gazette of India. SECTION 30: CONDITIONS OF SERVICE OF EMPLOYEES (1) Every employee of the University shall be appointed-under a written contract and such contract shall not be inconsistent with .the provisions of this Act, the Statutes and the Ordinances. (2) The contract referred to in sub-section (1) shall be lodged with the University and a copy of which shall be furnished to the employee concerned. SECTION 31: TRIBUNAL OF ARBITRATION (1) Any dispute arising out of a contract of employment referred to in S. 30 between the University and an employee shall, at the request of either party, be referred to a Tribunal of Arbitration which shall consist of one member nominated by the Board of Management, one member nominated by the employee concerned and an umpire to be nominated by the Visitor. (2) Every such reference shall be deemed to be a submission to arbitration upon the terms of this section within the meaning of the Arbitration Act, 1940-, and all the provisions of that Act, with the exception of S. 2 thereof, shall apply accordingly. (3) The procedure for regulating the work of the Tribunal of Arbitration shall be prescribed by the Statutes. (4) The decision of the.....

All India Services Act, 1951 Complete Act

State: Central

Year: 1951

.....Service, and (3) the Indian Medical and Health Service. The present Bill seeks to create the aforesaid services by amending the All India Services Act, 1951. Under section 3of the Act, the Central Government would be empowered to make rules for the regulation of recruitment, and conditions of service of persons appointed, to these services. - S.O.R. -Gaz. of Ind., 19-11-1962, Pt. II, S. 2, Ext., p. 1012. Act 23 of 1975.- In service matters occasions arise when it becomes an inescapable necessity to amend or make rules with retrospective effect. An instance in point is the implementation of the decisions of the Government on the recommendations of the Third Central Pay Commission. 2.Section 3of the All India Services Act, 1951 which empowers the Central Government to make rules for the regulation of recruitment and the conditions of service of persons appointed to an All India Service does not in terms permit the making of the rules with retrospective effect. In view of the opinion tendered by the Attorney-General in 1969 in connection with a po,int raised by the Public Accounts Committee regarding an exemption notification issued with retrospective effect under the Central.....

Negotiable Instruments Act, 1881 Complete Act

State: Central

Year: 1881

.....When the holder of an accepted bill of exchange enters into any contract with the acceptor which, under section 134 or 135 of the Indian Contract Act, 1872 (9 of 1872), would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged. SECTION 40: DISCHARGE OF INDORSER'S LIABILITY Where the holder of a negotiable instrument, without the consent of the indorser, destroys or impairs the indorser's remedy against a prior party, the indorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity. Illustration A is the holder of a bill of exchange made payable to the order of B, which contains the following indorsements in blank- First indorsement, "B". Second indorsement, "Peter Williams". Third indorsement "Wright & Co." Fourth indorsement "John Rozario". This bill A puts in suit against John Rozario and strikes out, without John Rozario's consent, the indorsements by Peter Williams and Wright & Co. A is not entitled to recover anything from John Rozario. SECTION 41: ACCEPTOR BOUND, ALTHOUGH INDORSEMENT FORGED An acceptor of a bill of.....

The Punjab Infrastructure (Development & Regulation) Act, 2002 Complete Act

State: Punjab

Year: 2002

.....which The Punjab State Electricity Regulatory Commission established under sub-section (1) of section 17 of the Electricity Regulatory Commissions Act, 1998 (Act No. 14 of 1998), is empowered to discharge. (2) The Authority shall always act consistent with the objectives and purposes for which it has been established. (3) Orders passed by the Authority in exercise of its powers under this Act, shall be final and binding on all concerned and shall be executable as a decree. Section 15 - Authority to have powers of a Civil Court (1) The Authority, in conduct of all proceedings before it and in exercise of its powers under this Act, will be guided by the principles of natural justice. (2) The Authority shall have the some powers as are vested in a Civil Court under the Code of Civil Procedure, 1908, in respect of :- (i) summoning and enforcing the attendance of any person and examining him on oath; (ii) requiring the discovery and production of documents (iii) receiving evidence on affidavits ; (iv) issuing commissions for the examination of witnesses or documents; (v) reviewing its decisions ; (vi) dismissing an application for default or deciding it ex parte, setting aside any.....

Code of Criminal Procedure, 1898 Complete Act

State: Central

Year: 1898

.....(2) of Section 5, for the words 'but subject to any enactment', substitute the words 'but, save as otherwise provided by this Code, subject to any enactment'. [W.B. Act 8 of 1970, Section 3 and Sch., item 2]. (1) All offences under the Indian Penal Code shall be investigated, inquired into, tried and otherwise dealt with according to the provisions hereinafter contained. Trial of offences against other laws (2) All offences under any other law shall be investigated, inquired into, tried, and otherwise dealt with according to the same provisions, but subject to any enactment for the time being in force regulating the manner or place of investigating, inquiring into, trying or otherwise dealing with such offences. PART 2 CONSTITUTION AND POWERS OF CRIMINAL COURTS AND OFFICES: CHAPTER 2: OF THE CONSTITUTION OF CRIMINAL COURTS AND OFFICES: SECTION 6: Glasses of Criminal Courts: Besides the High Courts and the Courts constituted under any law other than this Code for the time being in force, there shall be five classes of Criminal Courts in [India], namely,- : State Amendments GUJARAT.-In its application to the State of Gujarat the amendment made in Section 6 is the.....

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

State: Central

Year: 2002

.....of the State Bank of India (Subsidiary Banks) Act, 1959. (2) Words and expressions used and not defined in this Act but defined in the Indian Contracts Act, 1872 (9 of 1872) or the Transfer of Property Act, 1882 (4 of 1882) or the Companies Act, 1956 (1 of 1956) or the Securities and Exchange Board of India Act, 1992 (15 of 1992) shall have the same meanings respectively assigned to them in those Acts. CHAPTER 2 REGULATION OF SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS OF BANKS AND FINANCIAL INSTITUTIONS SECTION 03: REGISTRATION OF SECURITISATION COMPANIES OR RECONSTRUCTION COMPANIES (1) No securitisation company or reconstruction company shall commence or carry on the business of securitisation or asset reconstruction without- (a) obtaining a certificate of registration granted under this section; and (b) having the owned fund of not less than two crore rupees or such other amount not exceeding fifteen per cent of total financial assets acquired or to be acquired by the securitisation company or reconstruction company, as the Reserve Bank may, by notification, specify: Provided that the Reserve Bank may, by notification, specify different amounts of owned fund.....

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

Title: Regulation of Securitisation and Reconstruction of Financial Assets of Banks and Financial Institutions

State: Central

Year: 2002

.....2004 2. Substituted for "such order of rejection or cancellation" by The Enforcement of Security Interest and Recovery of Debts Laws (Amendment) Act, 2004 Section 5 - Acquisition of rights or interest in financial assets (1) Notwithstanding anything contained in any agreement or any other law for the time being in force, any securitisation company or reconstruction company may acquire financial assets of any bank or financial institution-- (a) by issuing a debenture or bond or any other security in the nature of debenture, for consideration agreed upon between such company and the bank or financial institution, incorporating therein such terms and conditions as may be agreed upon between them; or (b) . by entering into an agreement with such bank or financial institution for the transfer of such financial assets to such company on such terms and conditions as may be agreed upon between them. (2) If the bank or financial institution is a lender in relation to any financial assets acquired under sub-section (1) by the securitisation company or the reconstruction company, such securitisation company or reconstruction company shall, on such acquisition, be deemed to be.....

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Section 7

Title: Issue of Security by Raising of Receipts or Funds by Securitisation Company or Reconstruction Company

State: Central

Year: 2002

.....and Exchange Board of India Act, 1992, any securitisation company or reconstruction company, may, after acquisition of any financial asset under sub-section (1) of section 5, offer security receipts to qualified institutional buyers (other than by offer to public) for subscription in accordance with the provisions of those Acts. (2) A securitisation company or reconstruction company may raise funds from the qualified institutional buyers by formulating schemes for acquiring financial assets and shall keep and maintain separate and distinct accounts in respect of each such scheme for every financial asset acquired out of investments made by a qualified institutional buyer and ensure that realisations of such financial asset is held and applied towards redemption of investments and payment of returns assured on such investments under the relevant scheme. 1[(2A) (a) The theme for the purpose of offering security receipts under sub-section (1) or raising funds funds under sub-section (2), may be in the nature of a trust to be managed by the securitisation company or reconstruction company, and the securitisation company or reconstruction company shall hold the assets so acquired.....

Negotiable Instruments Act, 1881 Chapter VII

Title: Of Discharge from Liability on Notes, Bills and Cheques

State: Central

Year: 1881

..... ( 2 ) In determining what is a reasonable time, regard sh all be had to the nature of the instrument, the usage of trade and of bankers, and the facts of the particular case. ( 3 ) The holder of the cheque as to which such dr awer or person is so discharged sh all be a creditor, in lieu of such dr awer or person, of such banker to the extent of such discharge and entitled to recover the amount from hi m. Illustrations (a) A draws a cheque for Rs. 1, 000, and, when the cheque ought to be presented, has funds at the bank to meet it. The bank fails before the cheque is presented. The drawer is discharged, but the holder can prove against the bank for the amount of the cheque. (b) A draws a cheque at Ambala on a bank in Calcutta. The bank fails before the cheque could be presented in ordinary course. A is not discharged, for he has not suffered actual damage through any delay in presenting the cheque.] _____________________ 1. Substituted by Act 6 of 1897, sec. 3, for section 84. Section 85 - Cheque payable to order 1 [(1)]Where a cheque payableto order purports to be indorsed by or on behalf of the payee, thedrawee isdischarged by payment in due course. 2.....