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Start Free TrialFinance Act, 1987 Section 90
Title: Amendment of Section 2
State: Central
Year: 1987
In section 2 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referreed to as the Gift-tax Act), in clause (xii), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely: - "Explanation : A transfer of any building or part thereof referred to in clause (iii), clause (iiia) or clause (iiib) of section 27 of the Income-tax Act by the person who is deemed under the said clause to be the owner thereof made voluntarily and without consideration in money or money's worth, shall be deemed to be a gift made by such person;".
View Complete Act List Judgments citing this sectionMental Health Act, 1987 Section 90
Title: Pension, Etc., of Mentally Ill Person Payable by Government
State: Central
Year: 1987
.....regard to the cost of maintenance of such members. (2) Where there is any further surplus amount available out of the funds specified in sub-section (1) after making payments as provided in that sub-section, the Government shall hold the same to be dealt with as follows, namely;-- (a) where the mentally ill person is certified to have ceased to be mentally ill by the District Court within the local limits of whose jurisdiction such person resides or is kept or detained, the whole of the surplus amount shall be paid back to that person; (b) where the mentally ill person dies before payment, the whole of the surplus amount shall be paid over to those of his heirs who are legally entitled to receive the same; (c) where the mentally ill person dies during his mental illness without leaving any person legally entitled to succeed to his estate the whole of the surplus amount shall with the prior permission of the District Court, be utilised for such charitable purpose as may be approved by the District Court. (3) The Central Government or the State Government, as the case may be, shall be discharged of all liability in respect of any amounts paid in accordance with this.....
View Complete Act List Judgments citing this sectionCommission of Sati Prevention Act, 1987 Section 5
Title: Punishment for Glorification of Sati
State: Central
Year: 1987
Whoever does any act for the glorification of sati shall be punishable with imprisonment for a term which shall not be less than one year but which may extend to seven years and with fine which shall not be less than five thousand rupees but which may extend to thirty thousand rupees.
View Complete Act List Judgments citing this sectionCommission of Sati Prevention Act, 1987 Section 1
Title: Short Title, Extent and Commencement
State: Central
Year: 1987
(1) This Act may be called the Commission of Sati (Prevention) Act, 1987. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force in a State on such date1as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different States. ________________________ 1. 1st March, 1988 Vide G.S.R. 359(E), dated 21st March, 1988.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 57
Title: Power to Remove Difficulties
State: Central
Year: 1987
If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order, not inconsistent with the provisions of this Act, remove the difficulty: Provided that no such order shall be made after the expiry of a period of three years from the commencement of this Act.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 54
Title: Liquidation of National Housing Bank
State: Central
Year: 1987
No provision of law relating to the winding up of companies shall apply to the National Housing Bank and the National Housing Bank shall not be placed in liquidation save by order of the Central Government and in such manner as it may direct.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 52
Title: Application of Fine
State: Central
Year: 1987
A court imposing fine under the Act may direct that the fine, if realised shall be applied (a) firstly in, or towards payment of, the cost of the proceedings, and (b) secondly for repayment of the deposit to the person to whom repayment of the deposit was to be made, and on such payment, the liability of the housing finance institution to make repayment of the deposit shall, to the extent of the amount paid by the Court, stand discharged. ________________________ 1. Inserted by by National Housing Bank (Amendments) Act, 2000 (15 of 2000)
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 51
Title: Cognizance of Offences
State: Central
Year: 1987
(1) No Court shall take cognizance of any offence punishable under this Act except upon a complaint in writing made by an officer of the National Housing Bank, generally or specially authorised in writing in this behalf by the National Housing Bank, and no Court other than that of a Metropolitan Magistrate or a Judicial Magistrate of the first class or a Court superior thereto shall try any such offence. (2) Notwithstanding anything contained in the Code of Criminal Procedure 1973, a Magistrate may, if he sees reason so to do, dispense with the personal attendance of the officer of the National Housing Bank filing the complaint but the Magistrate may in his discretion, at any stage of the proceedings, direct the personal attendance of the complaint.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 47
Title: Indemnity of Directors
State: Central
Year: 1987
(1) Every director shall be indemnified by the National Housing bank against all losses and expenses incurred by him in, or in relation to, the discharge of his duties, except such as are caused by his own wilful act or default. (2) A director shall not be responsible for any other director or for any officer or other employee of the National Housing Bank or for any loss or expenses resulting to the National Housing Bank from the insufficiency or deficiency of the value of, or title to, any property or security acquired or taken on behalf of the National Housing Bank or the insolvency or wrongful act of any debtor or any person under obligation to the National Housing Bank or anything done in good faith in the execution of the duties of his office in relation thereto.
View Complete Act List Judgments citing this sectionNational Housing Bank Act, 1987 Section 46
Title: Protection of Action Taken Under the Act
State: Central
Year: 1987
No suit or other legal proceedings shall lie against the National Housing Bank or any director or any officer or other employee of the National Housing Bank or any other person authorised by the National Housing Bank to discharge any functions under this Act for any loss or damage caused or likely to be caused by anything which is in good faith done or intended to be done in pursuance of this Act or of any other law or provision having the force of law.
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