Bare Act Search Results

Insurance Act, 1938 Complete Act

State: Central

Year: 1938

.....to the business of insurance. Whereas it is expedient to consolidate and amend the law relating to the business of insurance; It is hereby enacted as foltows :- This Act has been applied to- (i) the partially excluded areas in the District of Darjesling, see Bengal Government Notification No. 1902-Com., dated 28-6-1939, Calcutta Gazette, dated 16-7-1939; (ii) the partially excluded areas in the Province of Orissa with effect from 14-10-1939, see Orissa Laws Validating Regulation, 1943 (1 of 1943). The Act has been extended to the new Provinces and Merged States by the S.3OF THE Merged States (Laws) Act, 1949 (1-1-1950) and to the States of Manipur, Tripura and Vindhya Pradesh by the Union Territories (Laws) Act, 1950 (30 of 1950), section 3 (16-4-1950). Manipur and Tripura are Union territories now and Vindhya Pradesh has been merged with the State of Madhya Pradesh -- See Act 37 of 1956, section 9(1)(e). It has been extended to the Union territories of- (1) Goa, Daman and Diu by Regn. 12 of 1962 (15-12-1963); (2) Dadra and Nagar Haveli, by Regn. 6 of 1963 (1-7-1965); (3) Pondicherry, by Regn. 7 of 1963 (1-10-1963); and (4) Laccadiv, Minicoy and Amindivi Islands, by Regn......

Assam Highways Act, 1989 Complete Act

State: Assam

Year: 1989

ASSAM HIGHWAYS ACT, 1989 ASSAM HIGHWAYS ACT, 1989 [ Act No. 18 of 1995] [ 22nd August, 1995] PREAMBLE An Act to provide for the regulation of road development and Road transport in State of Assam Whereas it is expedient to provide generally for the regulation of road development and road transport so as secure for the public such conditions as will ensure the maximum efficiency of all means of road along roads, in the State of Assam. It is hereby enacted in the Fortieth year of the Republic of India as follows, namely : Section 1 - Short title, extent and commencement (1) This Act may be called the Assam Highways Act, 1989. (2) It shall extend to the whole of the State of Assam. (3) It shall come into force on such date as the State Government may, by notification in the official Gazette, appoint. Section 2 - Definitions In this Act, unless there is anything repugnant in the subject or context - (1) "animal" means any elephant, camel, horse, ass, mule, cattle, sheep or goat; (2) "betterment" when applied to land means the increase in the value of any land arising from the execution in its vicinity of a highway development scheme at.....

Insurance Act, 1938 (4 of 1938) Schedule V

Title: The Fifth Schedule

State: Central

Year: 1938

.....are to be shown to the nearest rupee. 3. Extra premium shown in the Forms of Summary and Valuation prepared under the Fourth Schedule to this Act must not be included in statements prepared under this Schedule. 4. Every statement prepared under this Schedule shall be signed by the actuary making the investigation in connection with which it is prepared. 5. For the purposes of this Schedule the following expressions have the meanings hereby respectively assigned to them, namely:-- (a) "annual loading" means the provision made for future expenses and profits; (b) "extra premiums" means a charge for any risk not provided for in the minimum contract premium; (c) "net premiums" means the premiums taken credit for in the valuation in connection with which any statement is prepared; and (d) "valuation date" means as respects any valuation the date as at which the valuation is made. PART II REQUIREMENTS FOR STATEMENTS APPLICABLE TO LIFE INSURANCE The statements required to be prepared under this Part of this Schedule are as follows, namely:-- 1. Statements separately prepared in respect of policies with and without participation in profits, showing:-- (a) as.....

The Limitation Act, 1963 Complete Act

State: Central

Year: 1963

.....31-8-1967).2 Orissa Act 24 of 1967, S 3 (w.e.f. 31-8-1967). SECTION 29: SAVINGS (1) Nothing in this Act shall affect section 25 of the Indian Contract Act, 1872 (9 of 1872). (2) Where any special or local, law prescribes for any suit, appeal or application a period of limitation different from the period prescribed by the Schedule, the provisions of section 3 shall apply as if such period were the period prescribed by the Schedule and for the purpose of determining any period of limitation prescribed for any suit, appeal or application by any special or local law, the provisions contained in sections 4 to 24 (inclusive) shall apply only in so far as, and to the extent to which, they are not expressly excluded by such special or local law. (3) Save as otherwise provided in any law for the time being in force with respect to marriage and divorce, nothing in this Act shall apply to any suit or other proceeding under any such law. (4) Sections 25 and 26 and the definition of "easement" in section 2 shall not apply to cases arising in the territories to which the Indian Easements Act, 1882 (5 of 1882) may for the time being extend. SECTION 30: PROVISION FOR SUITS, ETC., FOR WHICH.....

The Madras Estates Land Act, 1908 Complete Act

State: Kerala

Year: 1908

THE MADRAS ESTATES LAND ACT, 1908 THE MADRAS ESTATES LAND ACT, 1908 [Act No. 1 of 1908] PREAMBLE An Act to declare and amend the law relating to the holding of land in estates in the Presidency of Madras. WHEREAS it is expedient to amend and declare the Law relating to the holding of land in estates in the Presidency of Madras; It is hereby enacted as follows:- Chapter I - PRELIMINARY THE MADRAS ESTATES LAND ACT, 1908 [Act No. 1 of 1908] PREAMBLE An Act to declare and amend the law relating to the holding of land in estates in the Presidency of Madras. WHEREAS it is expedient to amend and declare the Law relating to the holding of land in estates in the Presidency of Madras; It is hereby enacted as follows:- Section 1 - Short title, Commencement, Local extent This Act may be called the Madras Estates Land Act, 1908: It shall come into force on the first day of July 1908: and it shall extend to the whole of the Presidency of Madras except the Presidency Town, the district of Malabar and the portion of the Nilgiri district known as the South East Wynaad. Section 2 - Repeal Madras Acts VIII of 1865 and II of 1871 and section 7 of Madras Act.....

Indian Trusts Act, 1882 Chapter III

Title: Of the Duties and Liabilities of Trustees

State: Central

Year: 1882

.....the Slate Government of Bombay]; 15[(d) in debentures or other securities for money issued, under the authority of16[any Central Act or Provincial Act or State Act], by or on behalf of any municipal body, port trust or city improvement trust in any Presidency-town, or in Rangoon town, or by or on behalf of the trustees of the port of Karachi:] 17[Provided that after the 31st day of March, 1948, no money shall be invested in any securities issued by or on behalf of a municipal body, port trust or city improvement trust in Rangoon town, or by or on behalf of trustees of the port of Karachi:] (e) On a first mortgage of immovable property situate in18[any part of the territories to which this Act extends]: Provided that the property is not a leasehold for a term of years and that the value of the property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the mortgage-money; 19[* * *] 20[(ee) in units issued by the Unit Trust of India under any unit scheme made under section 21 of the Unit Trust of India Act, 1963; or] (f) on any other security expressly authorized by the instrument of trust,21[or by the Central Government by the notification in.....

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.....

Insurance Regulatory and Development Authority Act, 1999 Complete Act

State: Central

Year: 1999

.....thereto and further to amend the Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and the General Insurance Business (Nationalisation) Act, 1972. Be it enacted by Parliament in the Fiftieth Year of the Republic of India as follows: STATEMENT OF OBJECTS AND REASONS 1. The insurance industry requires a high degree of regulation. The Insurance Act, 1938 provides for the institution of the Controller of Insurance to act as a strong and powerful supervisory and regulatory authority with powers to direct, advise, caution, prohibit, investigate, inspect, prosecute, search, seize, fine, amalgamate, authorise, register and liquidate insurance companies. However, after the nationalisation of the life insurance industry in 1956 and the general insurance industry in 1972, the role of the Controller of Insurance diminished in significance over a period of time. 2. In April, 1993, the Government set up a high-powered Committee headed by Shri R.N. Malhotra, former Governor, Reserve Bank of India, to examine the structure of the insurance industry and recommend changes to make it more efficient and competitive keeping in view the structural changes in other parts of the financial.....

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (PROTECTION OF POLICY HOLDERS'INTERESTS) REGULATIONS, 2002 Complete Act

State: Central

Year: 2002

.....and Development Authority Act, 1999 (41 of 1999) or the Insurance Rules, 1939 shall have the meanings respectively assigned to them in those Acts or the rules. Regulation 3 Point of Sale (1) Notwithstanding anything mentioned in Regulation 2(e) above, a prospectus of any insurance product shall clearly state the scope of benefits, the extent of insurance cover and in an explicit manner explain the warranties, exceptions and conditions of the insurance cover and, in case of life insurance, whether the product is participating (with profits) or non-participating (without profits). The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits, and in no case, the premium relatable to all the riders put together shall exceed 30% of the premium of the main product. Explanation. The rider or riders attached to a life policy shall bear the nature and character of the main policy, viz. participating or non-participating and accordingly the life insurer shall make provisions, etc. in its books. (2) An insurer or its agent or other intermediary shall provide all material information in respect of a proposed cover to the prospect.....

Indian Trusts Act, 1882 Section 16

Title: Conversion of Perishable Property

State: Central

Year: 1882

Where the trust is created for the benefit of several persons in succession, and the mist-property is of a wasting nature or a future or reversionary interest, the trustee is bound, unless an intention to the contrary may be inferred from the instrument of trust, to convert the property into property of a permanent and immediately profitable character. Illustrations (a) A bequeaths to B all his properly in trust for C during his life, and on his death for D, and on D's death for E. A's properly consists of three leasehold houses, and there is nothing in A's will to show that he intended the houses to be enjoyed in specie. B should sell the houses, and invest the proceeds in accordance with section 20. (b) A bequeaths to B his three leasehold houses in Calcutta and all the furniture therein in trust for C during his life, and on his death for D, and on D's death for E. Here an intention that the houses and furniture should be enjoyed in specie appears clearly, and B should not sell them.