Bare Act Search Results

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (PREPARATION OF FINANCIAL STATEMENTS AND AUDITOR'S REPORT OF INSURANCE COMPANIES)REGULATIONS, 2000 Complete Act

State: Central

Year: 2000

.....over the period of insurance because of the very nature of the risk covered e.g. some infrastructure projects involving varying degrees of risk factor. A deposit premium is paid in such cases at the beginning of the policy period and subsequently adjusted. The basis of determination of premium earned shall be adequately justified, preferably supported by external evidence such as by certification from an actuary and/or other technical experts. Adequate disclosure of such basis shall be made. 3. Premium deficiency.-Premium deficiency shall be recognised if the sum of expected claim costs, related expenses and maintenance costs exceed related unearned premiums. For contracts exceeding four years, once a premium deficiency has occurred, future changes to the liability shall be based on actuarial/technical evaluation. 4. Acquisition costs.-Acquisition costs, if any, shall be expensed in the period in which they are incurred. Acquisition costs are those costs that vary with, and are primarily related to, the acquisition of new and renewal insurance contracts. The most essential test is the obligatory relationship between costs and the execution of insurance contracts (i.e......

The Arbitration And Conciliation (Amendment) Act, 2015 Complete Act

State: Central

Year: 2015

.....pool. If in such fields it is the custom and practice for parties frequently to appoint the same arbitrator in different cases, this is a relevant fact to be taken into account while applying the rules set out above. THE SIXTH SCHEDULE [See section 12 (1)(b)] NAME: CONTACT DETAILS: PRIOR EXPERIENCE (INCLUDING EXPERIENCE WITH ARBITRATIONS): NUMBER OF ONGOING ARBITRATIONS: CIRCUMSTANCES DISCLOSING ANY PAST OR PRESENT RELATIONSHIP WITH OR INTEREST IN ANY OF THE PARTIES OR IN RELATION TO THE SUBJECT-MATTER IN DISPUTE, WHETHER FINANCIAL, BUSINESS, PROFESSIONAL OR OTHER KIND, WHICH IS LIKELY TO GIVE RISE TO JUSTIFIABLE DOUBTS AS TO YOUR INDEPENDENCE OR IMPARTIALITY (LIST OUT): CIRCUMSTANCES WHICH ARE LIKELY TO AFFECT YOUR ABILITY TO DEVOTE SUFFICIENT TIME TO THE ARBITRATION AND IN PARTICULAR YOUR ABILITY TO FINISH THE ENTIRE ARBITRATION WITHIN TWELVE MONTHS (LIST OUT): THE SEVENTH SCHEDULE [See section 12 (5)] Arbitrator s relationship with the parties or counsel 1. The arbitrator is an employee, consultant, advisor or has any other past or present business relationship with a party. 2. The arbitrator currently represents or advises one of the parties or an affiliate of one of the.....

Chemical Weapons Convention Act, 2000 Schedule I

Title: Schedule

State: Central

Year: 2000

..... (d) Law enforcement including domestic riot control purposes. 10. "Production Capacity" means: The annual quantitative potential for manufacturing a specific chemical based on the technological process actually used or, if the process is not yet operational, planned to be used at the relevant facility. It shall be deemed to be equal to the nameplate capacity or, if the nameplate capacity is not available, to the design capacity. The nameplate capacity is the product output under conditions optimized for maximum quantity for the production facility, as demonstrated by one or more test-runs. The design capacity is the corresponding theoretically calculated product output. 11. "Organization" means: The Organization for the Prohibition of Chemical Weapons established pursuant to Article VIII of this Convention. 12. For the purposes of Article VI: (a) "Production" of a chemical means its formation through chemical reaction; (b) "Processing" of a chemical means a physical process, such as formulation, extraction and purification, in which a chemical is not converted into another chemical; (c) "Consumption" of a chemical means its conversion into another chemical.....

Patents Act, 1970 Complete Act

State: Central

Year: 1970

.....falling within sub-section (1) of (section 20 of the Atomic Energy Act, 1962 (33 of 1962)) . (1)Inventions where only methods or processes of manufacture patentable. In the case of inventions- (a) claiming substances intended for use, or capable of being used, as food or as medicine or drug, or (b) relating to substances prepared or produced by chemical processes (including alloys, optical glass, semi-conductors and inter-metallic com- pounds), no patent shall be granted in respect of claims for the Substances themselves, but claims for the methods or processes of manufacture shall be patentable. (2)Notwithstanding anything contained in sub-section (1), a claim for patent of an invention for a substance itself intended for use, or capable of being used, as medicine or drug, except the medicine or drug specified under sub-clause (v) of clause(l) of sub-section(1) of Section 2, may be made and shall be dealt, without prejudice to the other provisions of this Act, in the manner provided in Chapter IV-A. SECTION 5 : 5 [* * * * *] CHAPTER 3 : APPLICATIONS FOR PATENTS SECTION 6 : Persons entitled to apply for patents (1) Subject to the provisions contained in (section 134) ,.....

Companies Act, 2013, Section 455

Title: Dormant Company

State: Central

Year: 2013

.....to the Registrar in such manner as may be prescribed for obtaining the status of a dormant company. Explanation. -- For the purposes of this section,-- (i) "inactive company" means a company which has not been carrying on any business or operation, or has not made any significant accounting transaction during the last two financial years, or has not filed financial statements and annual returns during the last two financial years; (ii) "significant accounting transaction" means any transaction other than-- (a) payment of fees by a company to the Registrar; (b) payments made by it to fulfil the requirements of this Act or any other law; (c) allotment of shares to fulfil the requirements of this Act; and (d) payments for maintenance of its office and records. (2) The Registrar on consideration of the application shall allow the status of a dormant company to the applicant and issue a certificate in such form as may be prescribed to that effect. (3) The Registrar shall maintain a register of dormant companies in such form as may be prescribed. (4) In case of a company which has not filed financial statements or annual returns for two financial years.....

Bureau of Indian Standards Act, 1986 Complete Act

State: Central

Year: 1986

.....produce more and more standard and quality goods so as to help in inducing faster growth, increasing exports and making available goods to the satisfaction of the consumers. 3. The organisations for formulating standards have to be given due recognition and status to enable it to discharge its functions effectively and efficiently in the acceptance and promotion of Indian Standards not only in this country but even abroad. Apart from the representations of the industry, such an organisation should also have adequate representation for users and consumer organisations. Central and State Governments, research organisations and regulatory agencies. For all these reasons, it is considered necessary to have the organisation for standards as a statutory institution which will have adequate autonomy and flexibility in its operations and will also ensure that priority is given to various aspects of its functions in line with national priorities. 4. To achieve these objectives, it is proposed to set up a Bureau of Indian Standards as a stautory institution. 5. The Bill provides that the Bureau of Indian Standards will be a body corporate and specifies its composition and the constitution.....

Burmah Oil Company (Acquisition of Shares of Oil India Limited and of the Understakings in India or Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited) Act, 1981 Complete Act

State: Central

Year: 1981

.....of, and control over, a significant portion of crude oil, gas and petroleum products produced, marketed and distributed in India by reason of the fact that Oil India Limited, wherein it holds fifty per cent. of the shares, and one of its subsidiaries, namely, the Assam Oil Company Limited are carrying on the business of exploration and production of crude oil, gas and petroleum products, and the said Assam Oil Company Limited is also carrying on through its undertakings in India and through the undertakings in India of "The Burmah Oil Company (India Trading) Limited", another of the subsidiaries of "The Burmah Oil Company Limited", the business of marketing and distribution of petroleum products, AND WHEREAS it is expedient in the public interest that the shares of the said Oil India Limited held by "The Burmah Oil Company Limited" and the undertakings in India of the said Assam Oil Company Limited and "The Burmah Oil Company (India Trading) Limited" should be acquired; AND WHEREAS such acquisition is for giving effect to the policy of the State towards securing the principle specified in clause (b) of article 39 of the Constitution as the ownership and control of the material.....

Finance Act, 2008 Complete Act

State: Central

Year: 2008

..... SECTION 62: Financial arrangements avoidance: Schedule 22 contains provision about avoidance involving financial arrangements. SECTION 63: Manufactured payments: (1) Schedule 23 contains anti-avoidance provisions about manufactured payments. (2) The amendments made by that Schedule have effect in relation to manufactured payments (including deemed manufactured payments) made (or treated as made) on or after 31 January 2008. SECTION 64: Controlled foreign companies: (2) In section 747 (imputation of chargeable profits of controlled foreign companies)- (1) Chapter 4 of Part 17 of ICTA (controlled foreign companies) is amended as follows. (a) in subsection (6), before "and" at the end of paragraph (a) insert- "(aa) any reference in this Chapter to its chargeable profits for an accounting period includes (subject to subsections (7) to (9)) income which accrues during that accounting period to the trustees of a settlement in relation to which the company is a settlor or a beneficiary;", and (b) after that subsection insert- "(7) Where there is more than one settlor or beneficiary in relation to the settlement mentioned in subsection (6)(aa), the income is to be.....

Food Safety and Standards Act, 2006 Complete Act

State: Central

Year: 2006

.....to establish the food safety and standards Authority of India for laying down science based standards for articles of food and to regulate their manufacture, storage, distribution, sale and import, to ensure availability of safe and wholesome food for human consumption and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Fifty-seventh Year of the Republic of India as follows:- CHAPTER 1 PRELIMINARY Section 1: Short title, extent and commencement (1) This Act may be called the food safety and standards act, 2006. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. Section 2: Declration as to expediency of control by Union It is hereby declared that it is expedient in the public interest that the Union should take under its control the food industry. Section 3: Definitions (1) In this act, unless the context.....

The Mizoram State Agricultural Produce Marketing (Development and Regulation) Act, 2008 Complete Act

State: Mizoram

Year: 2008

.....Where a contract or agreement is entered into on behalf of a Market Committee, the Chief Executive Officer of the Market Committee shall report the fact to the Market Committee at each meeting convened and held immediately following the date of entering into such a contract or an agreement. 35. Act of Market Committee etc. not to be invalidated. No act of Market Committee or of any Sub-Committee thereof or of any person acting as a member, Chairman, Vice-Chairman, presiding authority or Chief Executive Officer shall be deemed to be invalid by reason only of some defect in the constitution or appointment of such Market Committee, Sub-Committee members, Chairman. Vice-Chairman, presiding authority or Chief Executive Officer or on the ground that they or any of them were disqualified for such office, or that formal notice of the intention to hold a meeting of the Committee or of the Sub -Committee was not given duly or by reason of such act having been done during the period of any vacancy in the office of the Chairman, Vice-Chairman or Chief Executive Officer or member of such committee or Sub-Committee or for any other informality not affecting the merits of the case. .....