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Companies Act, 2013, Section 60

Title: Publication of Authorised, Subscribed and Paid

State: Central

Year: 2013

(1) Where any notice, advertisement or other official publication, or any business letter, billhead or letter paper of a company contains a statement of the amount of the authorised capital of the company, such notice, advertisement or other official publication, or such letter, billhead or letter paper shall also contain a statement, in an equally prominent position and in equally conspicuous characters, of the amount of the capital which has been subscribed and the amount paid-up. (2) If any default is made in complying with the requirements of sub-section (1), the company shall be liable to pay a penalty of ten thousand rupees and every officer of the company who is in default shall be liable to pay a penalty of five thousand rupees, for each default.

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Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, (Central) Section 60

Title: Powers of Authority and Procedure Before It

State: Central

Year: 2013

..... (g) any other matter which may be prescribed. (2) The Authority shall have original jurisdiction to adjudicate upon every reference made to it under section 64. (3) The Authority shall not be bound by the procedure laid down in the Code of Civil Procedure, 1908 (5 of 1908) but shall be guided by the principles of natural justice and subject to the other provisions of this Act and of any rules made thereunder, the Authority shall have the power to regulate its own procedure. (4) The Authority shall, after receiving reference under section 64 and after giving notice of such reference to alt the parties concerned and after affording opportunity of hearing to all parties, dispose of such reference within a period of six months from the date of receipt of such reference and make an award accordingly. (5) The Authority shall arrange to deliver copies of the award to the parties concerned within a period of fifteen days from the date of such award.

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Finance Act, 2012, (Central) Section 60

Title: Amendment of Section 144c

State: Central

Year: 2012

In section 144C of the Income-tax Act,-- (a) in sub-section (4), for the words and figures "in section 153", the words, figures and letter "in section 153 or section 153B" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 2009; (b) after sub-section (8), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2009, namely:-- "Explanation.--For the removal of doubts, it is hereby declared that the power of the Dispute Resolution Panel to enhance the variation shall include and shall be deemed always to have included the power to consider any matter arising out of the assessment proceedings relating to the draft order, notwithstanding that such matter was raised or not by the eligible assessee."; (c) in sub-section (13), for the words and figures "in section 153", the words, figures and letter "in section 153 or section 153B" shall be substituted and shall be deemed to have been substituted with effect from the 1st day of October, 2009; (d) after sub-section (14), the following sub-section shall be inserted with effect from the 1st day of April,.....

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Finance Act, 2011, (Central) Section 60

Title: Amendment of First Schedule and Second Schedule

State: Central

Year: 2011

In the Customs Tariff Act,-- (a) the First Schedule shall,-- (i) be amended in the manner specified in the Fourth Schedule; (ii) also be amended in the manner specified in the Fifth Schedule with effect from the 1st day of January, 2012; (b) the Second Schedule shall be amended in the manner specified in the Sixth Schedule.

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Finance Act, 2010 Section 60

Title: Amendment of Notifications Issued Under Sub-section (1) of Section 25 of Customs Act

State: Central

Year: 2010

.....referred to in said sub-section (1) with retrospective effect as if the Central Government had the power to amend the said notifications under sub-section (1) of section 25 of the Customs Act, retrospectively, at all material times. (3) No suit or other proceedings shall be instituted, maintained or continued in any court, tribunal or other authority for any action taken or anything done or omitted to be done, in respect of any goods, under any such rule, regulation, notification or order and no enforcement shall be made by any court, of any decree or order relating to such action taken or anything done or omitted to be done as if the amendments made in said notifications had been in force at all material times. (4) Recovery shall be made of the amount which has not been paid but which would have been paid as if the amendments made in the manner specified in said subsection (1) had been in force at all material times. Explanation.--For the removal of doubts, it is hereby declared that no act or omission on the part of any person shall be punishable as an offence which would not have been so punishable if the notifications referred to in this section had not been amended.....

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Finance (No. 2) Act 2009 Section 60

Title: Amendment of Section 194a

State: Central

Year: 2009

In section 194A of the Income-tax Act, in sub-section (3), in clause (x); after the words "public sector company" at both the places where they occur, the words "or scheduled bank" shall be inserted.

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Limited Liability Partnership Act 2008 Section 60

Title: Compromise or Arrangement of Limited Liability Partnership

State: Central

Year: 2008

.....the limited liability partnership or any other person by whom an application has been made under sub-section (1) has disclosed to the Tribunal, by affidavit or otherwise, all material facts relating to the limited liability partnership, including the latest financial position of the limited liability partnership and the pendency of any investigation proceedings in relation to the limited liability partnership. (3) An order made by the Tribunal under sub-section (2) shall be filed by the limited liability partnership with the Registrar within thirty days after making such an order and shall have effect only after it is so filed. (4) If default is made in complying with sub-section (3), the limited liability partnership, and every designated partner of the limited liability partnership shall be punishable with fine which may extend to one lakh rupees. (5) The Tribunal may, at any time after an application has been made to it under this section, stay the commencement or continuation of any suit or proceeding against the limited liability partnership on such terms as the Tribunal thinks fit, until the application is finally disposed of.

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Finance Act 2008 Section 60

Title: Amendment of Section 17

State: Central

Year: 2008

In section 17 of the Wealth-tax Act,-- (a) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:-- Provided also that the Assessing Officer may assess or reassess such net wealth, other than the net wealth which is the subject matter of any appeal, reference or revision, which is chargeable to tax and has escaped assessment.; (b) in sub-section (1B), after clause (b), the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of October, 1998, namely:-- Explanation.--For the removal of doubts, it is hereby declared that the Joint Commissioner, the Commissioner or the Chief Commissioner, as the case may be, being satisfied on the reasons recorded by the Assessing Officer about fitness of a case for the issue of notice, need not issue such notice himself..

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Sashastra Seema Bal Act 2007 Section 60

Title: Collective Fines

State: Central

Year: 2007

(1) Whenever any weapon or part of weapon or ammunition, forming part of the equipment of a unit, is lost or stolen, a commanding officer not below the rank of the Commandant of that unit may, after making such enquiry as he thinks fit, impose such collective fine as may be prescribed, upon the subordinate officers, under-officers and men of such unit, or upon so many of them as, in his judgment, should be held responsible for such loss or theft. (2) Such fine shall be assessed as a percentage of the pay of the individuals on whom it falls.

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Finance Act 2007 Section 60

Title: Amendment of Section 206a

State: Central

Year: 2007

In section 206A of the Income-tax Act, in sub-section (1), for the words "not exceeding five thousand rupees", the words "not exceeding ten thousand rupees, where the payer is a banking company or a co-operative society, and five thousand rupees in any other case" shall be substituted with effect from the 1st day of June, 2007.

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