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Start Free TrialNational 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 sectionFinance Act, 1981 Section 37
Title: Insertion of New Section 9a
State: Central
Year: 1981
.....in connection with the regular assessment for any assessment year, is satisfied that any assessee - (a) has furnished under clause (a) of sub-section (5) of section 7A a statement of advance surtax payable by him which he knew or had reason to believe to be untrue, or (b) has without reasonable cause failed to furnish a statement of the advance surtax payable by him in accordance with the provisions of clause (a) of sub-section (5) of section 7A, he may direct that such assessee shall, in addition to the amount of surtax, if any, payable by him, pay by way of penalty a sum - (i) which, in the case referred to in clause (a), shall not be less than ten per cent. but shall not exceed one and a half times the amount by which the surtax actually paid during the financial year immediately preceding the assessment year under the provisions of section 7A falls short of - (1) eight-three and one-third per cent. of the assessed surtax, or (2) the amount which would have been payable by way of advance surtax if the assessee had furnished a correct and complete statement in accordance with the provisions of clause (a) of sub-section (5) of section 7A, whichever is less; .....
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Chapter IX
Title: Staff
State: Central
Year: 1981
.....so applying, the availability of vacancies in the National Bank, the exigencies of service in the Reserve Bank and the National Bank and such other factors as may be considered relevant in this regard, and, if the Reserve Bank is satisfied having regard to these factors, that such applicant is suitable for being so appointed recommend his appointment to the National Bank. (c) The National Bank may thereupon, within eighteen months from the appointed day, appoint such a person applying under this sub-section as a member of the staff of the National Bank and on such appointment, such a person shall be deemed to have been appointed in the National Bank under sub-section (3): Provided that the proviso to sub-section (3) and the proviso to sub-section (3) and the proviso to sub-section (5) shall not apply in respect of such person. (5) Notwithstanding anything contained elsewhere in this Act or in any other law or in any contract for the time being in force at any time before the expiry of six months from the appointed day the Reserve Bank may if it considers it necessary in consultation with the National Bank so to do in the interest of the National Bank , transfer on.....
View Complete Act List Judgments citing this sectionNational Bank for Agriculture and Rural Development Act, 1981 Section 50
Title: Staff of National Bank
State: Central
Year: 1981
.....so applying, the availability of vacancies in the National Bank, the exigencies of service in the Reserve Bank and the National Bank and such other factors as may be considered relevant in this regard, and, if the Reserve Bank is satisfied having regard to these factors, that such applicant is suitable for being so appointed recommend his appointment to the National Bank. (c) The National Bank may thereupon, within eighteen months from the appointed day, appoint such a person applying under this sub-section as a member of the staff of the National Bank and on such appointment, such a person shall be deemed to have been appointed in the National Bank under sub-section (3): Provided that the proviso to sub-section (3) and the proviso to sub-section (3) and the proviso to sub-section (5) shall not apply in respect of such person. (5) Notwithstanding anything contained elsewhere in this Act or in any other law or in any contract for the time being in force at any time before the expiry of six months from the appointed day the Reserve Bank may if it considers it necessary in consultation with the National Bank so to do in the interest of the National Bank , transfer on.....
View Complete Act List Judgments citing this sectionAir (Prevention and Control of Pollution) Act, 1981 Section 5
Title: Constitution of State Boards
State: Central
Year: 1981
.....two of the members are persons having special knowledge or practical experience in respect of matters relating to the improvement of the quality of air or the preventio (3) Every State Board constituted under this Act shall be a body corporate with the name specified by the State Government in the notification issued under sub-section (1), having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire and dispose of property and to contract, and may by the said name sue or be used. ________________________ 1. Substituted by Act 47 of 1987, section 4, for "State Board for the Prevention and Control of Water Pollution". 2. Substituted by Act 47 of 1987, section 4, for clause (f) (w.e.f. 1-4-1988).
View Complete Act List Judgments citing this sectionHigh Court at Bombay (Extension of Jurisdiction to Goa, Daman and Diu) Act, 1981 Section 9
Title: Establishment of a Permanent Bench of Bombay High Court at Panaji
State: Central
Year: 1981
On and from the appointed day, there shall be established a permanent bench of the High Court at Bombay at Panaji and such Judges of the High Court at Bombay, being not less than two in number, as the Chief Justice of that High Court may, from time to time, nominate, shall sit at Panaji in order to exercise the jurisdiction and power for the time being vested in that High Court in respect of cases arising in the Union territory of Goa, Daman and Diu : Provided that the Chief Justice of that High Court may, in his discretion order that any case or class of cases arising in such territory shall be heard at Bombay.
View Complete Act List Judgments citing this sectionFinance Act, 1981 Section 27
Title: Insertion of New Section 21aa
State: Central
Year: 1981
.....association of persons as is referred to in sub-section (1) is satisfied that the association of persons was guilty of any of the acts specified in section 18 or section 18A, he may impose or direct the imposition of a penalty in accordance with the provisions of the said sections. (4) Every person who was at the time of such discontinuance or dissolution a member of the association of person, and the legal representative of any such person who is deceased shall be jointly and severally liable for the amount of tax, penalty or other sum payable, and all the provisions of this Act, so far as may be, shall apply to any such assessment of imposition of penalty or other sum. (5) Where such discontinuance or dissolution takes place after any proceedings in respect of an assessment year have commenced, the proceedings may be continued against the persons referred to in sub-section (4) from the stage at which the proceedings stood at the time of such discontinuance or dissolution, and all the provisions of this Act shall, so far as may be, apply accordingly. Explanation : Notwithstanding anything contained in section 5, in computing the net wealth for the purposes of this section.....
View Complete Act List Judgments citing this sectionAssam State Legislature (Delegation of Powers) Act, 1981 [Repealed] Section 3
Title: Conferment on the President of the Power of the State Legislature to Make Laws
State: Central
Year: 1981
.....he considers it practicable to do so, consult a Committee constituted for the purpose, consisting of thirty members of the House of the People nominated by the Speaker and fifteen members of the Council of States nominated by the Chairman. (3) Every Act enacted by the President under sub-section (2) shall, as soon as may be after enactment, be laid before each House of Parliament. (4) Either House of Parliament may, by resolution passed within thirty days from the date on which the Act has been laid before it under sub-section (3), which period may be comprised in one session or in two successive session, direct any modifications to be made in the Act and if the modifications are agreed to by the other House of Parliament during the session in which the Act has been so laid before it or the session succeeding, such modifications shall be given effect to by the President by enacting an amending Act under sub-section (2) : PROVIDED that nothing in this sub-section shall affect the validity of the Act or of any action taken there under before it is so amended.
View Complete Act List Judgments citing this sectionFinance Act, 1981 Section 7
Title: Amendment of Section 36
State: Central
Year: 1981
In section 36 of the Income-tax Act, in sub-section (1) in clause (viii), in the second proviso, after the words "time to time exceeds", the words "twice the amount of" shall be inserted with effect from the 1st day of April, 1982.
View Complete Act List Judgments citing this sectionSpecial Bearer Bonds (Immunities and Exemptions) Act, 1981 [Repealed] Section 3
Title: Immunities
State: Central
Year: 1981
.....acquired Special Bearer Bonds; and (c) the fact that a person has subscribed to or has otherwise acquired Special Bearer Bonds shall not be taken into account and shall be inadmissible as evidence in any proceedings relating to any offence or the imposition of any penalty under any such law. (2) Nothing in sub-section (1) shall apply in relation to prosecution for any offence punishable under Chapter IX or Chapter XVII of the Indian Penal Code (45 of 1860), the Prevention of Corruption Act, 1947 (2 of 1947), or any offence which is punishable under any other law and which is similar to an offence punishable under either of those Chapters or under that Act or for the purpose of enforcement of any civil liability. Explanation.-- For the purposes of this sub-section, "civil liability" does not include liability by way of tax under any law for the time being in force.
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