Bare Act Search Results

The Punjab Utilization of Surplus Area Scheme, 1973 Complete Act

State: Punjab

Year: 1973

.....this scheme; (e) "Rules" means the Punjab Land Reforms Rules, 1973; (f) all words and expressions used herein and not defined but defined in the Act or rules shall have the meanings assigned to them in the Act or the rules, as the case may be. [1] [1] 3. Application by eligible person. " An eligible person may make an application to the Circle Revenue Officer in Form I for allotment of land comprised in the surplus area. Such an application shall be made within three months of the date of commencement of this scheme or within such extended period as may, for reasons to be recorded, be allowed by the Circle Revenue Officer. 4. Power to proceed suo motu - Proceedings for allotment of land comprised in the surplus area may also be initiated suo motu by the Circle Revenue Officer. 5. Procedure to be observed by Circle Revenue officer - When an application is made under paragraph 3 or when the Circle Revenue Officer suo motu initiates proceedings under paragraph 4, he shall, after giving the persons seeking allotment or being considered for allotment, an opportunity of being heard and after making such summary inquiry, as he may consider necessary prepare a.....

Insurance Regulatory and Development Authority (Distribution of Surplus) Regulations, 2002 Complete Act

State: Central

Year: 2002

.....Authority Act, 1999 (41 of 1999), or in any Rules or Regulations made thereunder shall have the meanings respectively assigned to them in those Acts or Rules or Regulations. Regulation 3 Life funds For the purpose of these regulations, with effect from 1st April 2003,- (1) a life insurer registered under Sec. 3 of the Insurance Act, 1938 shall be required to maintain separately :- (a) a life fund for participating policyholders and (b) a life fund for non participating policyholders. (2) A failure to comply with the requirements of sub-regulation (1) above shall mean that the life fund maintained by the insurer shall be for the benefit of the participating policyholders only. Regulation 4 Procedure for distribution of surplus A life insurer may, on the advice of his appointed actuary, reserve a part of the actuarial surplus (also referred to as valuation surplus) arising out of a valuation of assets and liabilities made for a financial year in accordance with Insurance Regulatory and Development Authority (Actuarial Report and Abstract) Regulations, 2000, to its shareholders, which shall be :- (a) one hundred per cent, in case of a life fund maintained for.....

Navy Act, 1957 Section 176

Title: Disposal of Surplus by Prescribed Persons

State: Central

Year: 1957

On receipt of the surplus referred to in sub-section (7) of section 171 or clause (ii) of section 172 or sub-section (4) of section 175, the prescribed person shall,- (a) if he knows of a legal representative of the deceased, pay the surplus to that representative; (b) if the surplus does not exceed1[ the prescribed amount not exceeding rupees one lakh in value] if he thinks fit, pay or deliver to any person appearing to him to be entitled to receive the same, without requiring such person to produce any probate, letters of administration, succession certificate or other conclusive evidence of title; (c) if the prescribed person does not know of any such representative to whom the surplus could be paid under clause (a), or if the surplus has not been disposed of under clause (b), publish every year a notice in the prescribed form and manner for six consecutive years; and if no claim to the surplus is made by the legal representative of the deceased within six months even after the publication of the last of such notices, the prescribed person shall deposit the surplus together with any income or accumulation of income accrue therefrom, to the credit of the Central.....

Army and Air Force (Disposal of Private Property) Act, 1950 Section 8

Title: Disposal of Surplus by Prescribed Persons

State: Central

Year: 1950

On receipt of the surplus referred to in sub-section (7) of section 3 or clause (ii) of section 4 or section (4) of section 7, the prescribed person shall, -- (a) if he knows of a representative of the deceased, pay the surplus to that representative; (b) if he does not know of any such representative and the surplus has not been disposed of under section 10, publish every year a notice in the prescribed form and manner for six consecutive years and if no claim to the surplus is made by a representative of the deceased within six months even after the publication of the last of such notices, the prescribed person shall deposit the surplus together with any income or accumulation of income accrued therefrom to thecredit of the Central Government : Provided that such deposit shall not bar the claim of any person to such surplus or any part thereof, if he is otherwise entitled to it.

Coffee Act, 1942 Section 25

Title: Surplus Coffee and Surplus Pool

State: Central

Year: 1942

.....been so delivered shall retain no rights in respect of such coffee excepthis right to receive the payments referred to in section 34. Note:-- Coffee Producers inMaharashtra, West Bengal and Andaman and Nicobar Islands are exempted from theprovisions of sub-section (1)-- ________________________ 1.Substituted for "internal sale quota"by The Coffee (Amendment) Act, 1994 (23 of 1994) w.e.f. 14.01.1994. 2.Inserted by Coffee Market Expansion (Amendment)Act (7 of 1943), S. 9 (26-3-1943). 3.Added by Coffee Market Expansion (Amendment) Act(50 of 1954), S. 17 (1-8-1955). 4.Words "with the concurrence of the ChiefCoffee Marketing Officer" were omitted by Coffee Market Expansion(Amendment) Act (50 of 1954), S. 17 (1-8-1955). 5.Words "before an internal sale quota hasbeen allotted to an estate" omitted by Coffee Market Expansion (Amendment)Act (7 of 1943), S. 10.

Insurance Act, 1938 (4 of 1938) Section 56

Title: Application of Surplus Assets of Life Insurance Fund in Liquidation or Insolvency

State: Central

Year: 1938

.....of a branch only of the life insurance business in question has been allocated to policy-holders, the value of the assets and liabilities of the insurer in respect of that branch shall be separately ascertained in like manner as the value of his assets and liabilities in respect of the life insurance business was ascertained, and the surplus so found, if any, of assets over liabilities shall, for the purpose of determining the amount to be added to the liabilities of the insurer in respect of the life insurance business be deemed to be the prima facie surplus. ______________________ 1. Substituted by the Companies (Second Amendment) Act, 2002, section 133 and Schedule, for "Court".

Payment of Bonus Act, 1965 Section 15

Title: Set on and Set off of Allocable Surplus

State: Central

Year: 1965

.....fourth accounting year in the manner illustrated in the Fourth Schedule. (3) The principle of set on and set off as illustrated in the Fourth Schedule shall apply to all other cases not covered by sub-section (1) or sub-section (2) for the purpose of payment of bonus under this Act. (4) Where in any accounting year any amount has been carried forward and set on or set off under this section, then, in calculating bonus for the succeeding accounting year, the amount of set on or set off carried forward from the earliest accounting year shall first be taken into account.] _________________________ 1. Substituted by Act 66 of 1980, Section 9, for section 15 (w.r.e.f. 21-8-1980).

Karnataka Municipal Corporations Act, 1976 Section 475

Title: Procedure in Dealing with Surplus Sale Proceeds

State: Karnataka

Year: 1976

If any property, movable or immovable is sold, under the provisions of this Act, and if there is a surplus after the sum due to the corporation and the costs have been deducted from the sale proceeds, such surplus shall, if the owner of the property sold claims it within three years from the date of the service or sending of the notice regarding such surplus be paid to him by the Commissioner, but if no such claim is preferred within such time, the said surplus shall be credited to the corporation fund and no suit lie for the recovery of any sum so credited.

Life Insurance Corporation Act, 1956 Section 28

Title: Surplus from Life Insurance Business How to Be Utilized

State: Central

Year: 1956

1[28. Surplus from life insurance business how to be utilized.-- If as a result of any investigation undertaken by the Corporation under section 26 any surplus emerges, ninety-five per cent of such surplus or such higher percentage thereof as the Central Government may approve shall be allocated to or reserved for the life insurance policy-holders of the Corporation and after meeting the liabilities of the Corporation, if any, which may arise under section 9, the remainder shall be paid to the Central Government or, if that Government so directs, be utilised for such purposes and in such manner as that Government may determine.] ________________________ 1. Substituted by Act 33 of 1965, section 3, for section 28 w.e.f. 29-9-1965.

National Bank for Agriculture and Rural Development Act, 1981 Section 47

Title: Disposal of Surplus

State: Central

Year: 1981

.....which is usually provided for by bankers, and for the funds referred to in section 42, 43 and 45, the National Bank shall transfer-- (i) for a period of fifteen years, following the accounting year during which the National Bank is established, the amount remaining (thereafter in this section referred to as surplus) to the Research and Development Fund under section 44; and 1[(ii) after the expiry of the said period of fifteen years, the Board shall, after making provision for the Fund referred to in clause (1), disburse or spend the balance of the surplus in such manner as may be approved by the Board.] ________________________ 1. Substituted by National Bank For Agriculture And Rural Development (Amendment) Act, 2000 (55 of 2000). Prior to substitution it read as under: "(ii) after the expiry of the said period of fifteen years the National Bank shall, after making provision for the Fund referred to in clause (I), transfer half of the balance of surplus to the Central government and the other half to the Reserve Bank."