Bare Act Search Results

Constitution of India Complete Act

State: Central

Year: 1949

.....of this Constitution if- (a) he or either of his parents or any of his grand- parents was born in India as defined in (Government of India Act, 1935) (as originally enacted); and (b) (i) in the case where such person has so migrated before the nineteenth day of July, 1948. he has been ordinarily resident in the territory of India since the date of his migration, or (ii) in the case where such person has so migrated on or after the nineteenth day of July, 1948, he has been registered as a citizen of India by an officer appointed in that behalf by the Government of the Dominion of India on an application made by him therefor to such officer before the commencement of this Constitution in the form and manner prescribed by that Government : Provided that no person shall be so registered unless he has been resident in the territory of India for at least six months immediately preceding the date of his application. ARTICLE 7: Rights of citizenship of certain migrants to Pakistan: Notwithstanding anything in (Art.5) and (Art.6), a person who has after the first day of March, 1947, migrated from the territory of India to the territory now included in Pakistan shall not be.....

Banking Regulation Act, 1949 Complete Act

State: Central

Year: 1949

.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....

Banking Regulation Act, 1949, (Maharashtra) Section 5

Title: Interpretation

State: Maharashtra

Year: 1949

.....Act, 1993.-The provisions made for recovery of debts of a bank is an essential aspect of the banking business. Therefore, the purpose of the 1949 Act and the 1993 Act is the same, namely regulation and control of the banking business and therefore, assuming that it is only by virtue of fiction created by section 56 of 1949 Act, that a Co-operative Bank becomes a banking company, then also a Co-operative Banks will have to be included within the meaning of definition of the term "banking company". The Full Bench of Bombay High Court further held, that so far as the aspect of business of banking is concerned, the Co-operative Banks and the companies doing business of banking are in one class. Recovery of dues is an essential aspect of the business of banking and therefore, so far as the aspect of recovery of dues of the banks are concerned, the Co-operative Banks and the companies doing business of banking would be in one class and therefore, they will have to be similarly treated. Narendra Kantilal Shah v. Joint Registrar Co-operative Societies (Appeal) Bombay, 2004 (1) All M. R. 798 : 2004 (1) Mah. L. J. 704 (F.B.) : AIR 2004 Bom. 167 (F. B.). _____________________________ .....

Banking Regulation Act, 1949 Part 1

Title: Preliminary

State: Central

Year: 1949

.....Act, 1956 (1 of 1956), shall have the meaningsrespectively assigned to them in that Act.] 25 [* * * * *] ___________________ 1. Substituted by Act 55 of 1963, Section 6, for "(1) In this Act,"w.e.f. 1-2-1964 2. Clause (a) Substituted by Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 3. Substituted by Act 20 of 1950, Section 3, for "in any State". 4.Inserted By Act 58of 1958, Section 2 w.e.f. 1-2-1969. 5. Inserted By Act 58 of 1959, Section 2 w.e.f. 1-10-1959. 6. Substituted by Act 58 of 1959 Section 2, for clause (d) w.e.f.1-10-1959. 7. Inserted By Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 8. Clause (e) omitted by Act 52 of 1953, Section 2. 9. Inserted By Act 47 of 1961, Section 51 and Schedule II, Pt. II w.e.f.1-1-1962. 10. Inserted By Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 11. Inserted by Act 62 of 1984, Section 71 and Third Schedule w.e.f.20-3-1985. 12. Inserted by Act 53 of 1987, Section 56 and Second Schedule w.e.f.9-7-1988. 13. Inserted by Act 58 of 1968, Section 2 w.e.f. 1-2-1969. 14. Substituted by Act 33 of 1959, Section 2, for clause (h) w.e.f.1-10-1959.23Added by Act 58 of 1968, Section 2 w.e.f. 1-2-1969. 15. Added by Act 58 of.....

Banking Regulation Act, 1949 Section 5

Title: Interpretation

State: Central

Year: 1949

.....Act, 1956 (1 of 1956), shall have the meaningsrespectively assigned to them in that Act.] 25 [* * * * *] ___________________ 1. Substituted by Act 55 of 1963, Section 6, for "(1) In this Act,"w.e.f. 1-2-1964 2. Clause (a) Substituted by Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 3. Substituted by Act 20 of 1950, Section 3, for "in any State". 4.Inserted By Act 58of 1958, Section 2 w.e.f. 1-2-1969. 5. Inserted By Act 58 of 1959, Section 2 w.e.f. 1-10-1959. 6. Substituted by Act 58 of 1959 Section 2, for clause (d) w.e.f.1-10-1959. 7. Inserted By Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 8. Clause (e) omitted by Act 52 of 1953, Section 2. 9. Inserted By Act 47 of 1961, Section 51 and Schedule II, Pt. II w.e.f.1-1-1962. 10. Inserted By Act 1 of 1984, Section 13 w.e.f. 15-2-1984. 11. Inserted by Act 62 of 1984, Section 71 and Third Schedule w.e.f.20-3-1985. 12. Inserted by Act 53 of 1987, Section 56 and Second Schedule w.e.f.9-7-1988. 13. Inserted by Act 58 of 1968, Section 2 w.e.f. 1-2-1969. 14. Substituted by Act 33 of 1959, Section 2, for clause (h) w.e.f.1-10-1959.23Added by Act 58 of 1968, Section 2 w.e.f. 1-2-1969. 15. Added by Act 58 of.....

Banking Regulation Act, 1949 Part 2

Title: Business of Banking Companies

State: Central

Year: 1949

.....of guarantee and indemnity business; (f) managing, selling andrealising any property which may come into the possession of the company insatisfaction or part satisfaction of any of its claims; (g) acquiring and holding andgenerally dealing with any property or any right, title or interest in any suchproperty which may form the security or part of the security for any loans or advancesor which may be connected with any such security; (h) undertaking and executingtrusts; (i) undertaking theadministration of estates as executor, trustee or otherwise; (j) establishing and supportingor aiding in the establishment and support of associations, institutions,funds, trusts and conveniences calculated to benefit employees or ex-employeesof the company or the dependents or connections of such persons; grantingpensions and allowances and making payments towards insurance; subscribing toor guaranteeing moneys for charitable or benevolent objects or for anyexhibition or for any public, general or useful object; (k) the acquisition,construction, maintenance and alteration of any building or works necessary orconvenient for the purposes of the company; (l) selling,.....

Banking Regulation Act, 1949 Section 10

Title: Prohibition of Employment of Managing Agents and Restrictions on Certain Forms of Employment

State: Central

Year: 1949

.....person concerned; (iv) the remuneration paid toother persons employed by the banking company or to any person occupying asimilar position in any other banking company similarly situated; and (v) the interests of itsdepositors. 6 [7 [***].] (6) Anydecision or order of the Reserve Bank made under thissection shall be final for all purposes.] ___________________ 1. Subsituted by Act 33 of 1959, Section 6, for the proviso w.e.f.1-10-1959 2. Subsituted by Act 33 of 1959, Section 6 for sub-clause (i) w.e.f.1-10-1959. 3. Subsituted by Act 33 of 1959, Section 6 for sub-clause (i) w.e.f.1-10-1959. 4. Subsituted by Act 55 of 1963, Section 8, for certain words w.e.f.1-2-1964. 5. Subsituted by Act 55 of 1963, Section 8, for the first provisow.e.f. 1-2-1964. 6. Subsituted by Act 33 of 1959, Section 6, for sub-section (3)w.e.f. 1-10-1959. 7. Sub-sections (3), (4) and (5) omitted by Act 55 of 1963, Section 8w.e.f. 1-2-1964.

Banking Regulation Act, 1949 Schedule V

Title: Fifth Schedule

State: Central

Year: 1949

.....of any security, issued by the Government to which the security pertains and having the same or approximately the same maturity, and other relevant factors; (iv) where the market value of any security, share, debenture, bond or other investment is not considered reasonable by reason of its having been affected by abnormal factors, the investment may be valued on the basis of its average market value over any reasonable period; (v) where the market value of any security, share, debenture, bond or other investment is not ascertainable, only such value, if any, shall be taken into account as is considered reasonable having regard to the financial position of the issuing concern, the dividend paid by it during the preceding five years and other relevant factors; (d) the amount of advances (including loans, cash, credits, overdrafts, bills purchased and discounted), and other debts, whether secured or unsecured, to the extent to which they are reasonably considered recoverable, having regard to the value of the security, if any, the operations on the account, the reported worth and respectability of the borrower, the prospects of realisation and other relevant considerations; .....

Banking Regulation Act, 1949, (Maharashtra) Schedule

Title: the Fifth Schedule

State: Maharashtra

Year: 1949

.....of any security, issued by the Government to which the security pertains and having the same or approximately the same maturity, and other relevant factors: (iv) where the market value of any security, share, debenture, bond or other investment is not considered reasonable by reason of its having been affected by abnormal factors, the investment may be valued on the basis of its average market value over any reasonable period; (v) where the market value of any security, share, debenture, bond or other investment is not ascertainable, only such value, if any, shall be taken into account as is considered reasonable having regard to the financial position of the issuing concern, the dividend paid by it during the preceding five years and other relevant factors; (d) the amount of advances (including loans, cash credits, overdrafts, bills purchased and discounted), and other debts, whether secured or unsecured, to the extent to which they are reasonably considered recoverable, having regard to the value of the security, if any, the operations on the account, the reported worth and respectability of the borrower, the prospects of realisation and other relevant considerations; .....

Bombay Provincial Municipal Corporation Act, 1949 Complete Act

State: Maharashtra

Year: 1949

.....Corporation is inserted. (iv) any joint stock company or any society, registered or deemed to be registered under the Bombay Co-operative Societies Act, 19251[which shall contract with or be employed by the Commissioner or the Transport Manager on behalf of the Corporation ; (v) the occasional sale to the Commissioner or Transport manager on behalf of the Corporation of any article in which he regularly trades to a value not exceeding in the aggregate in any one official year two thousand rupees; or (vi) the occasional letting out on hire to the Corporation or in the hiring from the Corporation of any article for an amount not exceeding in the aggregate in any one official year five hundred rupees ; (c) occupying as a tenant for the purpose of residence any premises belonging to the Corporation ; or (d) receiving conveyance charges as a member of the Transport Committee. SECTION 11: DISABILITIES FROM CONTINUING AS COUNCILLOR A Councillor shall cease to hold office as such if at any time during his term of office he, (a) becomes disqualified for being a Councillor by reason of the provisions of section 10 ; (b) absents himself during three successive months from the meetings of.....