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Start Free TrialAir (Prevention and Control of Pollution) Act, 1981 Section 50
Title: Power to Amend the Schedule
State: Central
Year: 1981
[Repealed by the Air (Prevention and Control of pollution) Amendment Act, 1987 (47 of 1987), section 22 (w.e.f. 1-4-1988)].
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 2
Title: Definitions
State: Central
Year: 1981
.....amount as the Central Government may specify by notification in this behalf having regard to trends in industrial development and other relevant factors; (j) "Managing Director" means the Managing Director appointed under section 6: (k) "marketing of crops" includes the processing of crops prior to marketing by any agricultural producers or any organisation of such producers; (l) "National Bank" means the National bank for Agriculture and Rural Development established under section 3. (m) "Notification" means a notification published in the Official Gazette. (n) "primary rural credit society" means a co-operative society by whatever name called,-- (1) Which has as its object or business the provision of financial accommodation to its members for agriculture or agricultural operations or for the marketing of crops, or for rural development; and (2) the bye-laws of which do not permit admission of any other co-operative society as member: Provided that this sub-clause shall not apply to the admission, as a member, of a co-operative society, which is a State co-operative bank or a central co-operative bank by reason of such bank subscribing to the share capital.....
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 10
Title: Vacation and Resignation of Office by Directors
State: Central
Year: 1981
(1) If a director-- (a) becomes subject to any of the Disqualifications mentioned in section 9; or (b) is absent without leave of the Board for more than three consecutive meetings thereof, his seat shall thereupon became vacant, (2) Any director may resign his office by giving notice thereof in writing to the Central Government and on his resignation being accepted by the Central Government or if his resignation is not sooner accepted, on the expiry of three months from the receipt thereof by the Central Government, he shall be deemed to have vacated his office.
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 9
Title: Disqualifications
State: Central
Year: 1981
(1) No person shall be director who - (a) is of unsound mind and stands so declared by a competent court; or (b) is or has been convicted of any Offences which in the opinion of the Central Government, involves moral turpitude; or (c) is, or at any time has been, adjudicated insolvent or has suspended payment of his debts or has compounded with his creditors. (2) The appointment as director of any person who is a Member of Parliament or the Legislature of any State shall, unless within two months of the date of his appointment he ceases to be such member, be void on the expiry of the said period of two months and if any director is elected or nominated as a member of parliament or of any State legislature he shall cease to be a director as from the date of such election or nomination as the case may be,
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 8
Title: Term of Office of Managing Director and Whole Time Directors Conditions of Service Etc.
State: Central
Year: 1981
.....consultation with the Reserve Bank, determine. (2) The Central Government may in consultation with the Reserve Bank, remove the Managing Director or any whole-time director appointed under sub-section (3) of section 6 at any time before the expiry of his term of office, after giving him a reasonable opportunity of showing cause against the proposed removal. (3) Notwithstanding anything contained in sub-section (1) or sub-section (2) Central Government shall have the right to terminate the term of office of the Managing Director or of any whole-time director appointed under sub-section (3) of section 6 at any time before the expiry of the term fixed under sub-section (1) by giving him notice of not less than three months in writing or three months salary and allowances in lieu of such notice: Provided that the Central Government shall before terminating the term of office of the Managing Director or any whole-time director appointed under sub-section (3) of section 6 consult the Reserve Bank ________________________ 1. Inserted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000)
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 7
Title: Term of Office of Chairman and Other Directors, Retirement and Payment of Fees
State: Central
Year: 1981
.....during such vacancy.] 4[(2) Subject to the provisions contained in sub-section (5), a director appointed under clause (b) or clause (c) of sub-section (1) of section 6, shall hold office for such term, not exceeding three years, as the Central Government may specify in this behalf5[***] and shall be eligible for reappointment: Provided that no such director shall hold office continuously for a period exceeding six years. (3) The Central Government may, in consultation with the Reserve Bank remove the Chairman or6[***] at any time before the expiry of his term of office after giving him a reasonable opportunity of showing cause against the proposed removal. 7[(4) The Chairman and any other director, who is not an officer of the Central Government or a State Government or an officer of the Reserve Bank or any body or corporation established by or under any Central Act or any State Act and owned or controlled by such Government, shall be paid such fees and allowances as may be prescribed for attending the meetings of the Board or of any of its committees and for attending to any other work of the National Bank.] 8[(5) The directors appointed under clauses (b) to (f) of.....
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 6
Title: Board of Directors
State: Central
Year: 1981
.....from out of the directors of the Reserve Bank; (e) three directors from amongst the officials of the Central Government ; (f) two directors from amongst the officials of the state Government ; and (g) a Managing Director. (2) The Chairman and other directors shall be appointed by the Central Government in consultation with the Reserve Bank; [Provided that no such consultation shall be necessary in the case of directors appointed under clause (e) of sub-section (1).] (3) Where the Central Government is satisfied in consultation with the Reserve Bank and [***], that it is necessary so to do it may appoint one or more whole-time directors with such designations as may be deemed appropriate by that Government and any whole-time director so appointed shall also be a member of the Board;" 2 . Omitted by Banking Laws (Amendment) Act 1985, w.e.f.1-5-86.
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 5
Title: Management
State: Central
Year: 1981
.....as otherwise provided in the regulations made under this Act, the Managing Director shall also have powers of general superintendence, direction and management of the affairs and business of the National Bank and may also exercise all powers and do all acts and things which may be exercised or done by the National Bank. (4) Any whole-time director appointed under sub-section (3) of section 6 shall assist the Managing Director in the discharge of his functions under sub-section (3) and perform such duties as the Board may entrust or delegate to him. (5) In the discharge of his powers and functions under sub-section (3) the Managing Director shall follow such directions as the Chairman may give. (6) In the discharge of its functions under this Act, the National Bank shall be guided by such directions in matters of policy involving public interest as the Central Government in consultation with the Reserve Bank, or the Reserve Bank may give in writing.
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 4
Title: Capital
State: Central
Year: 1981
.....from time to time: Provided that the National Bank may issue capital to such institutions and persons in such manner as may be notified by the Central Government: Provided further that the combined shareholding of the Central Government and the Reserve Bank shall not at any time be less than fifty-one per cent, of the total subscribed capital.] ________________________ 1. Substituted for "five hundered crores" by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000) 2. Sub-Section (2) Substituted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000). Prior to substitution it read as under: "(2) The capital of the National Bank shall be subscribed to by the Central Government and the Reserve Bank in equal proportions."
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 3
Title: Establishment and Incorporation of National Bank for Agriculture and Rural Development
State: Central
Year: 1981
(1) With effect from such date as the Central Government may, by notification in the Official Gazette, appoint, there shall be established for the purposes of this Act, a bank to be known as the National Bank for Agriculture and Rural Development. (2) The Bank shall be a body corporate with the name aforesaid having perpetual succession and a common seal with power , subject to the provisions of this Act, to acquire, ;hold and dispose of property and to contract may by that name sue and be sued. (3) The head office of the National Bank shall be at Bombay or at such other place as the Central Government may, by notification, specify. (4) (1) The capital of the National Bank shall be one hundred crores of rupees; provided that the Central Government may, in consultation with the Reserve Bank and by notification, increase the said capital up to five hundred crores of rupees. (2) The capital of the National Bank shall be subscribed to by the Central Government and the Reserve Bank in equal proportions
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