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Start Free TrialFinance (No. 2) Act, 1996 Section 50
Title: Amendment of Section 199
State: Central
Year: 1996
In section 199 of the Income-tax Act, with effect from the 1st day of April, 1997, - (i) for the words "owner of the security", the words "owner of the security, or depositor or owner of property or of unit-holder" shall be substituted; (ii) in the first proviso, for the word "owner", the words "owner or depositor or unit-holder" shall be substituted; (iii) for the second proviso, the following proviso shall be substituted, namely :- "Provided further that where any property, deposit, security, unit or share is owned jointly by two or more persons not constituting a partnership, the payment shall be deemed to have been made on behalf of, and credit shall be given to, each such person in the same proportion in which rent, interest on deposit or on security or income in respect of unit or dividend on share is assessable as his income."
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 50
Title: Appealable Orders
State: Central
Year: 1996
(1) An appeal shall lie from theorder refusing to- (a) refer the parties toarbitration under section 45; (b) enforce a foreign award undersection 48, to the court authorised by law to hear appeals from such order. (2) No second appeal shall liefrom an order passed in appeal under this section, but nothing in this sectionshall affect or take away any right to appeal to the Supreme Court.
View Complete Act List Judgments citing this sectionBuilding and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 Section 50
Title: Penalty for Other Offences
State: Central
Year: 1996
(1) Whoever contravenes any other provision of this Act or any rules made thereunder or who fails to comply with any provision of this Act or any rules made thereunder shall, where no express penalty is elsewhere provided for such contravention or failure, be punishable with fine which may extend to one thousand rupees for every such contravention or failure, as the case may be, and in the case of a continuing contravention or failure, as the case may be. with an additional fine which may extend to one hundred rupees for every day during which such contravention or failure continues after the conviction for the first such contravention or failure. (2) A penalty under sub-section (1) may be imposed-- (a) by the Director-General where the contravention or failure relates to a matter to which the appropriate Government is the Central Government; and (b) by the Chief Inspector where the contravention or failure relates to a matter to which the appropriate Government is the State Government. (3) No penalty shall be imposed unless the person concerned is given a notice in writing-- (a) informing him of the grounds on which it is proposed to impose a penalty; and (b) giving.....
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 68
Title: Administrative Assistance
State: Central
Year: 1996
In order to facilitate the conduct of the conciliation proceedings, the parties, or the conciliator with the consent of the parties, may arrange for administrative assistance by a suitable institution or person.
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 60
Title: Saving
State: Central
Year: 1996
Nothing in this Chapter shall prejudice any rights which any person would have had of enforcing in India of any award or of availing himself in India of any award if this Chapter had not been enacted.
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 61
Title: Application and Scope
State: Central
Year: 1996
(1) Save as otherwise provided by any law for the time being in force and unless the parties have otherwise agreed, this Part shall apply to conciliation of disputes arising out of legal relationship, whether contractual or not and to all proceedings relating thereto. (2) This Part shall not apply where by virtue of any law for the time being in force certain disputes may not be submitted to conciliation.
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 62
Title: Commencement of Conciliation Proceedings
State: Central
Year: 1996
(1) The party initiating conciliation shall send to the other party a written invitation to conciliate under this Part, briefly identifying the subject of the dispute. (2) Conciliation proceedings shall commence when the other party accepts in writing the invitation to conciliate. (3) If the other party rejects the invitation, there will be no conciliation proceedings. (4) If the party initiating conciliation does not receive a reply within thirty days from the date on which he sends the invitation, or within such other period of time as specified in the invitation, be may elect to treat this as a rejection of the invitation to conciliate and if he so elects, he shall inform in writing the other party accordingly.
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 63
Title: Number of Conciliators
State: Central
Year: 1996
(1) There shall be one conciliator unless the parties agree that there shall be two or three conciliators. (2) Where there is more than one conciliator, they ought, as a general rule, to act jointly.
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 66
Title: Conciliator Not Bound by Certain Enactments
State: Central
Year: 1996
The conciliator is not bound by the Code of Civil Procedure, 1908 (5 of 1908)or the Indian Evidence Act, 1872 (1 of 1872).
View Complete Act List Judgments citing this sectionArbitration and Conciliation Act, 1996 Section 67
Title: Role of Conciliator
State: Central
Year: 1996
(1) The conciliator shall assist the parties in an independent and impartial manner in their attempt to reach an amicable settlement of their dispute. (2) The conciliator shall be guided by principles of objectivity, fairness and justice, giving consideration to, among other things, the rights and obligations of the parties, the usages of the trade concerned and the circumstances surrounding the dispute, including any previous business practices between the parties. (3) The conciliator may conduct the conciliation proceedings in such a manner as he considers appropriate, taking into account the circumstances of the case, the wishes the parties may express, including any request by a party that the conciliator hear oral statements, and the need for a speedy settlement of the dispute. (4) The conciliator-may, at any stage of the conciliation proceedings, make proposals for a settlement of the dispute. Such proposals need not be writing and need not be accompanied by a statement of the reasons therefor.
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