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Start Free TrialReserve Bank of India Act, 1934 (2 of 1934) Section 38
Title: Obligations of Government and the Bank in Respect of Rupee Coin
State: Central
Year: 1934
The 1 [Central Government] shall undertake not 2 [***] to put into circulation any rupees, except through the Bank, 3 [***] and the Bank shall undertake not to dispose of rupee coin other-wise than for the purposes of circulation 4 [***]. ________________________ 1. Substituted by the India and Burma (Burma Monetary Arrangements) Order, 1937, for "Governor-General in Council". 2. The words "to re-issue any rupee coin delivered under section 36 nor" omitted by Act 55 of 1963, section 4 (w.e.f. 1-2-1964). 3. The words "and as provided in that section" omitted by Ordinance 4 of 1940, section 3. 4. The words "or by delivery to the Central Government under that section" omitted by Act 55 of 1963, section 4 (w.e.f. 1-2-1964).
View Complete Act List Judgments citing this sectionIndian Coinage Act, 1906 Section 13
Title: Coin when a Legal Tender
State: Central
Year: 1906
.....continue as before to be a legal tender in payment or on account for any sum not exceeding one rupee.] 3[(4) All new coins in the naya paisa series, designated as such under the notification of the Government of India in the Ministry of Finance, Department of Economic Affairs, No.SectionR.O. 1120, dated 11thMay, 1956, which may have been issued under this Act prior to the commencement of the Indian Coinage (Amendment) Act, 1964, shall continue to be a legal tender in payment or on account - (a)in the case of a half-rupee of fifty naya paisa coin, for any sum not exceeding ten rupees. (b)In the case of any other coin, for any sum not exceeding one rupee.] __________________________ 1. Substituted for "in the case of a rupee coin" by the Indian Coinage (Amendment) Act, 1968, w.e.f. 01-11-1968. 2. Inserted by the Indian Coinage (Amendment) Act, 1968, w.e.f. 01-11-1968. 3. Inserted by the Indian Coinage (Amendment) Act, 1964, w.e.f. 01-06-1964.
View Complete Act List Judgments citing this sectionCoinage Act, 2011, (Central) Section 6
Title: Coin when a Legal Tender
State: Central
Year: 2011
(1) The coins issued under the authority of section 4 shall be a legal tender in payment or on account, in case of-- (a) a coin of any denomination not lower than one rupee, for any sum not exceeding one thousand rupees; (b) a half-rupee coin, for any sum not exceeding ten rupees; (c) any other coin, for any sum not exceeding one rupee: Provided that the coin has not been defaced and has not lost weight so as to be less than such weight as may be prescribed in its case. (2) All new coins in the naya paisa series, designated as such under the notification of the Government of India in the Ministry of Finance, Department of Economic Affairs, Number S.R.O. 1120, dated the 11th May, 1956 issued prior to the commencement of the Indian Coinage (Amendment) Act, 1964, shall continue to be a legal tender in payment or on account, in case of,-- (a) a half-rupee or fifty naye paise coin, for any sum not exceeding ten rupees; (b) any other coin, for any sum not exceeding one rupee.
View Complete Act List Judgments citing this sectionSmall Coins ( Offences ) Act, 1971 Section 3
Title: Prohibition on Melting or Destruction of Small Coins
State: Central
Year: 1971
.....coins of a person, due regard shall be had to-- (i) his total daily requirements of small coins, (ii) the nature of his business, occupation or profession, (iii) the mode of his acquisition of small coins, and (iv) the manner in which, and the place at which, such small coins are being possessed, held or controlled by him. (2) Whoever is found to be in the possession of any metal, which contains alloys in the same proportions in which they have been used in the manufacture of any small coin, shall be presumed, until the contrary is proved, to have contravened the provisions of sub-section (1). (3) Nothing contained in sub-section (1) or sub-section (2) shall apply to the mint.
View Complete Act List Judgments citing this sectionBronze Coin Legal Tender Act 1918 Section 2
Title: Power to Declare Certain Bronze Coins Coined Outside Part a States and Part C States to Be Legal Tender
State: Central
Year: 1918
.....is satisfied that such coins are in accordance with the requirements of section 9 and of any notification for the time being in force under section 10 of the said Act3[it] may, by notification in the4[Official Gazette], direct the issue of any such coins, and thereafter any such coins shall be legal tender in payment or on account in the same way and to the same extent as if they were coins referred to in section 14 of the said Act, and the provisions of the said Act shall apply accordingly. (2) Every coin which is declared to be legal tender by sub-section (1) shall be deemed to be5[Indian coin] within the meaning of section 230 of the Indian Penal Code. 6[Explanation. - In this Act, 'Part A States and Part C States', means India except the territories which, immediately before the 1st November, 1956, were comprised in Part B States.] _________________________ 1. Substituted for "the Provinces" by A. L. O., 1950. 2. Substituted by the A. O. 1937 for "G. G. in C" 3. Substituted by the A. O. 1937 for "he". 4. Substituted by the A. O. 1937 for "Gazette of India". 5. Substituted for "Queen's Coin" by A. L. O. 1950. 6. Added by 3 A. L. O., 1956. .....
View Complete Act List Judgments citing this sectionBronze Coin Legal Tender Act 1918 Preamble 1
Title: Bronze Coin Legal Tender Act 1918
State: Central
Year: 1918
THE BRONZE COIN LEGAL TENDER ACT 1918 [Act, No. 22 of 1918] [26th September, 1918] PREAMBLE An Act to pro vide that certain bronze coins coined outside [Part A States and Part C States] shall be legal tender in1[Part A States and Part C States] WHEREAS it is expedient to provide that certain bronze coins coined outside1[Part A States and Part C States] shall be legal tender in1[Part A States and Part C States]; It is hereby enacted as follows :- _________________________ 1. Substituted the words "the Provinces by A. L. O. 1950.
View Complete Act List Judgments citing this sectionSmall Coins ( Offences ) Act, 1971 Preamble 1
Title: Small Coins (Offences) Act, 1971
State: Central
Year: 1971
THE SMALL COINS (OFFENCES) ACT, 1971 [Act, No. 52 of 1971] [11th December, 1971] PREAMBLE An Act to provide for the prevention of melting or destruction of small coins, hoarding of small coins for the purpose of melting or destruction thereof, and for matters connected therewith or incidental thereto. WHEREAS an acute shortage of small coins has been felt in the country and it is necessary, in the interests of the general public, to take steps to relieve such shortage BE it enacted by Parliament in the Twenty-second Year of the Republic of India as follows: --
View Complete Act List Judgments citing this sectionBronze Coin Legal Tender Act 1918 Complete Act
Title: Bronze Coin Legal Tender Act 1918
State: Central
Year: 1918
Preamble1 - BRONZE COIN LEGAL TENDER ACT 1918 Section1 - Short title Section2 - Power to declare certain bronze coins coined outside Part A States and Part C States to be legal tender
List Judgments citing this sectionReserve Bank of India Act, 1934 (2 of 1934) Section 28A
Title: Issue of Special Bank Notes and Special One Rupee Notes in Certain Cases
State: Central
Year: 1934
.....legal tender in India. (5) The special one rupee note shall be deemed to be included in the expression "rupee coin" for all the purposes of this Act except section 39, but shall be deemed not to be a currency note for any of the purposes of this Act. (6) Where a special bank note is on its face expressed to be payable at a specified office or branch of the Bank, the obligation imposed by section 39 shall be only on the specified "office or branch and, further, shall be subject to such regulations as may be made under this section. (7) The Bank may, with the previous sanction of the Central Government, make regulations to provide for all matters for which provision is necessary or convenient for the purpose of giving effect to the provisions of this section, and, in particular, the manner in which, and the conditions or limitations subject to which- (i) bank notes and one rupee notes in circulation in any country outside India may be replaced by special notes issued under this section; (ii) any such special notes may be exchanged for any other bank notes or one rupee notes.] ________________________ 1. Inserted by Act 14 of 1959, section 2 (w.e.f. 1-5-1959).
View Complete Act List Judgments citing this sectionSmall Coins ( Offences ) Act, 1971 Complete Act
Title: Small Coins ( Offences ) Act, 1971
State: Central
Year: 1971
Preamble1 - SMALL COINS (OFFENCES) ACT, 1971 Section1 - Short title and duration Section2 - Definitions Section3 - Prohibition on melting or destruction of small coins Section4 - Penalty for contravention of section 3 Section5 - Offences by companies Section6 - Offences to be cognizable, bailable and not compoundable Section7 - Offences may be tried summarily Section8 - Forfeiture Section9 - Provisions of Act 20 of 1958 not to apply to offences under this Act Section10 - Repeal Amending ActI - AMENDING ACT I
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