Bare Act Search Results

Major Port Trusts Act, 1963 Section 68

Title: Right of Survivors of Joint or Several Payees of Securities

State: Central

Year: 1963

(1) Notwithstanding anything contained in section 45 of the Indian Contract Act, 1872,-- (a) when any Port Trust security is payable to two or more persons jointly, and either or any of them dies, the Port Trust security shall be payable to the survivor or survivors of those persons, and (b) when any such security is payable to two or more persons severally and either or any of them dies, the security shall be payable to the survivor or survivors of those persons, or to the representatives of the deceased, or to any of them. (2) This section shall apply whether such death occurred or occurs before or after the appointed day.; (3) Nothing herein contained shall affect any claim which any representative of a deceased person may have against the survivor or survivors under or in respect, of any security to which sub-section (1) applies. (4) For the purposes of this section, a body incorporated or deemed to be incorporated under the Companies Act, 1956, or the Co-operative Societies Act, 1912, or any other enactment for the time being in force, whether within or without India, shall be deemed to die when it is dissolved.

Government Securities Act, 2006 Section 8

Title: Right of Survivors of Joint Holders or Several Payees

State: Central

Year: 2006

Notwithstanding anything contained in section 45 of the Indian Contract Act, 1872(9 of 1872) and subject to the provisions of sections 7 and 10,-- (a) when a Government security is held by two or more persons jointly, and either or any of them dies, the title to the Government security shall vest in the survivor or survivors of those persons; and (b) when a Government security is payable to two or more persons severally and either or any of them dies, the Government security shall be payable to the survivor or survivors of those persons or to the representative of the deceased or to any one of them: Provided that nothing contained in this section shall affect any claim which any representative of a deceased joint holder or deceased holders of a Government security or a surviving joint holder or holders of a Government security, as the case may be, may have against the survivor or survivors or representatives under or in respect of any Government security to which this section applies. Explanation.--For the purposes of this section, a body incorporated or deemed to be incorporated under the Companies Act, 1956(1 of 1956), or the Co-operative Societies Act, 1912(2 of.....

Public Debt Act, 1944 Section 8

Title: Right of Survivors of Joint Holders or Several Payees

State: Central

Year: 1944

Notwithstanding anything contained in section 45 of the Indian Contract Act, 1872,-- (a) when a Government security is held by two or more persons jointly and either or any of them dies, the title to the security shall vest in the survivor or survivors of those persons, and (b) when a Government security is payable to two or more persons severally and either or any of them dies, the security shall be payable to the survivor or survivors of those persons or to the representative of the deceased or to any of them : Provided that nothing contained in this section shall affect any claim which any representative of a deceased person may have against the survivor or survivors under or in respect of any security to which this section applies. Explanation.-- For the purposes of this section1[a body incorporated or deemed to be incorporated under the Companies Act, 1956] or the Co-operative Societies Act, 1912, or any other enactment for the time being in force whether within or without2[India], relating to the incorporation of the associations of individuals, shall be deemed to die when it is dissolved. ________________________ 1. Substituted for the words "a body.....

Indian Securities Act, 1920 Section 4

Title: Right of Survivors of Joint or Several Payees of Government Securities

State: Central

Year: 1920

(1) Notwithstanding anything in section 45 of the Indian Contract Act, 1872, (9 of 1872)-- (a) when a Government security is payable is payable to two or more persons jointly and either or any of them dies, the security shall be payable to the survivor or survivors of those persons, and (b) when a Government security is payable to two or more persons severally and either or any of them dies, the security shall be payable to the survivor or survivors of those persons or to the representative of the deceased, or to any of them. (2) This section shall apply whether such death occurred or occurs before or after this Act come into force. (3) Nothing herein contained shall affect any claim which any representative of a deceased person may have against the survivor or survivors under or in respect of any security to which sub-section (1) applies. [Inserted By Act 2 of 1928, section 2 ][(4) For the purpose of this section, a body incorporated under the Indian Companies Act, 1913, [See now the Companies Act, 1956 (1 0f 1956).] (7 of 1913.) or the Co-operative Societies Act, 1912, (2 of 1912.) or any other enactment for the time being in force whether within or without[ Subs.By.....

New Delhi Municipal Council Act 1994 Section 129

Title: Payment to Survivors of Joint Payees

State: Central

Year: 1994

When any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, then, notwithstanding anything in section 45 of the Indian Contract Act, 1872, (9 of 1872) the debenture or security shall be payable to the survivor or survivors of such person. Provided that nothing in this section shall affect any claim by legal representative of a deceased person against such survivor or survivors.

Karnataka Municipal Corporations Act, 1976 Section 158

Title: Payment to Survivors of Joint Payees

State: Karnataka

Year: 1976

When any debenture or security issued under this Act is payable to two or more persons jointly, and either or any of them dies, then, the debenture or security shall be payable to the survivor or survivors of such persons: Provided that nothing in this section shall affect any claim by the representative of a deceased person against such survivor or survivors.

Government Savings Banks Act, 1873 Complete Act

State: Central

Year: 1873

.....of the State of Bihar. The Act was extended to the Union territory of Himachal Pradesh by H.P. A.L.O., 1948. H.P. is a 'State' from 25-1-1971-See Act 53 of 1970. The Act has now been extended to the Union territories of- (1) Dadra and Nagar Haveli by Regn. 6 of 1963 (1-7-1965); (2) Pondicherry by Regn. 7 of 1963 (1-10-1963); (3) Laccadive, Minicoy and Amindivi Islands (Now called Lakshdweep) by Regn. 8 of 1965 (1-10-1967). The Act has been extended to the Union territory of Goa, Daman and Diu and enforced therein on and from 1-9-1962-See S.O. 2734 published in Gaz. of Ind., 1-9-1962, Pt. II, S. 3(ii). Extra., p. 1991. The Act has been brought into force from 11-3-1992 in the State of Sikkim-See Gaz. of Ind., 11-3-92, Pt. II, S. 3(ii), Ext., p. 2 (No. 184). PRELIMINARY SECTION 01: SHORT TITLE This Act may be called the Government Savings Banks Act, 1873. Local extent. It extends 1 to 2 [the whole of India 3 [* * *].] SECTION 02: ACT NOT TO APPLY TO DEPOSITS IN ANCHAL SAVINGS BANK This Act shall not apply to any deposits made in the Anchal Savings Bank of the State of Travancore-Cochin, and, notwithstanding anything contained in this Act, any law in force in the said State.....

Banking Regulation Act, 1949 Complete Act

State: Central

Year: 1949

.....on 19-9-1949. This Act now incorporates the provisions contained therein in the Banking Companies Act. 1949 as a pernabebt basis, in addition. this Act also amends the said Act for the following purposes :- (a) to incorporate special provisions for facilitating quick amalgamations between banking companies: (b) to empower the Reserve Bank to control opening of branches by Indian banks in foreign countries: (c) to provide a meaning of the terms "assets in India" for the purpose of section 25.-Gaz. of Ind.. 24-12-1949. Pt. V. p:501. Act 52 of 1953.- The Banking Companies Act. 1949 (X of 1949) was passed to ensure proper administration of the banking companies in India. The liquidation of banks, however, continued to be governed by the provisions of the Indian Companies Act, 1913. Experience of the liquidation of a large number of banks that failed during the post-war and post-partition period disclosed that the procedure for the liquidation of joint stock companies was totally inadequate for the liquidation of banking companies in a manner satisfactory to the depositors. A bank has a far larger number of debtors than a joint stock company of a comparable size, and the necessity to.....

Public Debt Act, 1944 Complete Act

State: Central

Year: 1944

.....only in so far as it deals with public debt of the Central Government. The present legislation, therefore, takes the form of a Bill to be enacted as a separate Act, applicable only to securities of the Central Government, which will reproduce the provisions of the 1920 Act with amendments designed to remedy the defects already referred to, and with certain other amendments the necessity or desirability of which is suggested by experience in the administration of the Act during last two decades. In this reproduction of the provisions of the 1920 Act, those provisions have been rearranged so as to group together sections dealing with the incidents common to the different forms in which loans of the Central Government are held and to relegate to separate sections the incidents peculiar to negotiable instruments."-Gaz. Of ind., 1943, Part V, page 162. Amendment Act 6 of 1949.- "Until 1946the Indian Securities Act, 1920, governed the securities issued by both the Central and the Provincial Governments. The working of this Act disclosed certain defects and it was considered necessary to amend it, particularly in the context of the very large increase of the public debt during.....

Government Securities Act, 2006 Complete Act

State: Central

Year: 2006

.....may be prescribed. Section 8: Right of survivors of joint holders or several payees Notwithstanding anything contained in s.45 of the Indian Contract Act, 1872 (9 of 1872) and subject to the provisions of s.7 and s.10, (a) when a Government security is held by two or more persons jointly, and either or any of them dies, the title to the Government security shall vest in the survivor or survivors of those persons; and (b) when a Government security is payable to two or more persons severally and either or any of them dies, the Government security shall be payable to the survivor or survivors of those persons or to the representative of the deceased or to any one of them: Provided that nothing contained in this section shall affect any claim which any representative of a deceased joint holder or deceased holders of a Government security or a surviving joint holder or holders of a Government security, as the case may be, may have against the survivor or survivors or representatives under or in respect of any Government security to which this section applies. Explanation. For the purposes of this section, a body incorporated or deemed to be incorporated under the Companies.....