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Home Bare Acts Phrase: section 471Companies (Second Amendment) Act, 2002 Section 75
Title: Amendment of Section 471
State: Central
Year: 2002
In section 471 of the principal Act, for the word "Court", at both the places where it occurs, the word "Tribunal" shall be substituted.
View Complete Act List Judgments citing this sectionIndian Penal Code (45 of 1860) Section 471
Title: Using as Genuine a Forged Document or Electronic Record
State: Central
Year: 1860
471. Using as genuine a forged1[document or electronic record] Whoever fraudulently or dishonestly uses as genuine any1[document or electronic record] which he knows or has reason to believe to be a forged1[document or electronic record], shall be punished in the same manner as if he had forged such1[document or electronic record]. ________________________ 1. Substituted by Act 21 of 2000, section 91 and Schedule, I, for "document" (w.e.f. 17-10-2000).
View Complete Act List Judgments citing this sectionCode of Criminal Procedure, 1973 Section 471
Title: Exclusion of Date on Which Court is Closed
State: Central
Year: 1973
Where the period of limitation expires on a day when the Court is closed, the Court may take cognizance on the day on which the Court reopens. Explanation.A Court shall be deemed to be closed on any day within the meaning of this section, if, during its normal working hours, it remains closed on that day.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 471
Title: Payment into Bank of Moneys Due to Company
State: Central
Year: 1956
(1) The 1 [Tribunal] may order any contributory, purchaser or other person from whom any money is due to the company to pay the money into the public account of India in the Reserve Bank of India instead of to the liquidator. (2) Any such order may be enforced in the same manner as if the 1 [Tribunal] had directed payment to the liquidator. _____________________ 1. Substituted by Act 11 of 2003, Section 75, for "Court".
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 1
Title: Short Title and Commencement
State: Central
Year: 1956
(1) This Act may be called the Life Insurance Corporation Act, 1956. (2) It shall come into force on such date 1as the Central Government may, by notifications in the Official Gazette, appoint. ________________________ 1. Came into force on Ist July, 1956, see Gazette of India, 1956, Extra. Pt. II, Sec. 3, p. 1531
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 3
Title: Establishment and Incorporation of Life Insurance Corporation of India
State: Central
Year: 1956
(1) With effect from such date 1as the Central Government may, by notification in the Official Gazette, appoint, there shall be established a Corporation called the Life Insurance Corporation of India. (2) The Corporation shall be a body corporate having perpetual succession and a common seal with power subject to the provisions of this Act, to acquire, hold and dispose of property, and may by its name sue and be sued. _____________________ 1. Ist September, 1956, see Gazette of India, 1956, Extra. Pt. II, Section 3, pg. 1799.
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 6
Title: Functions of the Corporation
State: Central
Year: 1956
.....insurance business is developed to the best advantage of the community. (2) Without prejudice to the generality of the provisions contained in sub-section (1) but subject to the other provisions contained in this Act, the Corporation shall have power- (a) to carry on capital redemption business, annuity certain business or reinsurance business in so far as such re insurance business appertains to life insurance business; (b) subject to the rules, if any, made by the Central Government in this behalf, to invest the funds of the Corporation in such manner as the Corporation may think fit and to take all such steps as may be necessary or expedient for the protection or realisation of any investment; including the taking over of and administering any property offered as security for the investment until a suitable opportunity arises for its disposal; (c) to acquire, hold and dispose of any property for the purpose of its business; (d) to transfer the whole or any part of the life insurance business carried on outside India to any other person or persons, if in the interest of the Corporation it is expedient so to do; (e) to advance or lend money upon the security of any.....
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 13
Title: Duty to Deliver Possession of Property and Documents Relating Thereto
State: Central
Year: 1956
(1) Where any property appertaining to the controlled business of an insurer has been transferred to and vested in the Corporation under this Act, then,- (a) every person, in whose possession, custody or control any such property may be, shall deliver the property to the corporation forthwith; (b) any person who, on the appointed day, has in his possession, custody or control any books, documents or other papers relating to such controlled business shall be liable to account for the said books, documents, and papers to the Corporation, and shall deliver them to the Corporation or to such person as the Corporation may direct. (2) In particular, all the assets of an insurer appertaining to life insurance business held in deposit by the Reserve Bank of India under the Insurance Act or by trustees in trust shall be delivered to the Corporation. (3) Without prejudice to the other provisions contained in this section, it shall be lawful for the Corporation to take all necessary steps for securing possession of all properties which have been transferred to and vested in it under this Act.
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 15
Title: Right of Corporation to Seek Relief in Respect of Certain Transactions of the Insurer
State: Central
Year: 1956
.....to the circumstances at the time, the Corporation may apply for relief to the Tribunal in respect of such transaction, and all parties to the transaction shall, unless the Tribunal otherwise directs, be made parties to the application. (2) The Tribunal may make such order against any of the parties to the application as it thinks just having regard to the extent to which those parties were respectively responsible for the transaction or benefited from it and all the circumstances of the case. (3) Where an application is made to the Tribunal under this section is respect of any transaction and the application is determined in favour of the Corporation, the Tribunal shall have exclusive jurisdiction to determine any claims outstanding in respect of the transaction.
View Complete Act List Judgments citing this sectionLife Insurance Corporation Act, 1956 Section 19
Title: Committees of the Corporation
State: Central
Year: 1956
(1) The Corporation may entrust the general superintendence and direction of its affairs and business to an Executive Committee consisting of not more than five of its members and the Executive Committee may exercise all powers and do all such acts and things as may be delegated to it by the Corporation. (2) The Corporation may also constitute an investment Committed for the purpose of advising it in matters relating to the investment of its funds, and the Investment Committee shall consist of not more than 1 [eight members of whom not less than four] shall be members of the Corporation and the remaining members shall be persons (whether members of the Corporation or not) who have special knowledge and experience in financial matters, particularly, matters relating to investment of funds. (3) The Corporation may constitute such other Committees as it may think fir for the purpose of discharging such of its functions as may be delegated to them. ________________________ 1. Substituted by Act 52 of 1975, section 42, for "seven numbers of whom not less than three".
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