Bare Act Search Results

Chit Funds Act, 1982 Section 2

Title: Definitions

State: Central

Year: 1982

.....under clause (e) of section 35 of the Banking Regulation Act, 1949 (10 of 1949), or a banking institution notified by the Central Government under section 51 of the Act or such other banking institution as the State Government may, in consultation with the Reserve Bank, approve for the purposes of this Act; (b) "chit" means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical instalments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount; Explanation.A transaction is not a chit within the meaning of this clause, if in such transaction, (i) some alone, but not all, of the subscribers get the prize amount without any liability to pay future subscriptions; or (ii) all the subscribers get the chit amount by turns with a liability to pay future subscriptions; (c) "chit.....

Chit Funds Act, 1982 Chapter I

Title: Preliminary

State: Central

Year: 1982

.....Union territory appointed by the President under article 239 of the Constitution; (r) "subscriber" includes a person who holds a fraction of a ticket and also a transferee of a ticket or fraction thereof by assignment in writing or by operation of law; (s) "ticket", means the share of a subscriber in a chit. Section 3 - Act to override other laws, memorandum, articles, etc. Save as otherwise expressly provided in this Act, (a) the provisions of this Act shall have effect notwithstanding anything to the contrary contained in any other law for the time being in force or in the memorandum or articles of association or bye-laws or in any agreement or resolution whether the same be registered, executed or passed, as the case may be, before or after the commencement of this Act; and (b) any provision contained in the memorandum, articles, bye-laws, agreement or resolution aforesaid, shall, to the extent to which it is repugnant to the provisions of this Act, become null or be void, as the case may be.

Chit Funds Act, 1982 Complete Act

State: Central

Year: 1982

..... (a) that the security offered by the foreman under section 20 is insufficient; (b) that the foreman had been convicted of any offence under this Act or under any other Act regulating chit business and sentenced to imprisonment for any such offence; (c) that the foreman had defaulted in the payment of fees or the filing of any statement or record required to be paid or filed under this Act or had violated any of the provisions of this Act or the rules made thereunder; (d) that the foreman had been convicted of any offence involving moral turpitude and sentenced to imprisonment for any such offence unless a period of five years has elapsed since his release: Provided further that before refusing to register a chit under the first proviso, the foreman shall be given a reasonable opportunity of being heard. (3) Every endorsement made under sub-section (2) shall be conclusive evidence that the chit is duly registered under this Act and the registration of a chit shall lapse if the declaration by the foreman under sub-section (1) of section 9-is not filed within three months from the date of such endorsement or within such further period or periods not exceeding three months in.....

Chit Funds Act, 1982 Chapter II

Title: Registration of Chits, Commencement and Conduct of Chit Business

State: Central

Year: 1982

.....payment of fees or the filing of any statement or record required to be paid or filed under this Act or had violated any of the provisions of this Act or the rules made thereunder; or (c) had been convicted of any offence involving moral turpitude and sentenced to imprisonment for any such offence unless a period of five years has elapsed since his release: Provided that before refusing any such sanction, the foreman shall be given a reasonable opportunity of being heard. (4) The order of the State Government, and, subject to the provisions of sub­ section (5), the order of the officer empowered under sub-section (1), issuing or refusing previous sanction under this section shall be final. (5) Any person aggrieved by the refusal to issue previous sanction by any officer empowered under sub-section (1) may appeal to the State Government within thirty days of the date of communication to him of such refusal and the decision of that Government on such appeal shall be final. Section 5 - Prohibition of invitation for subscription except under certain conditions No person shall issue or cause to be issued any notice, circular, prospectus, proposal or other document.....

African Development Fund Act, 1982 Schedule I

Title: Schedule

State: Central

Year: 1982

.....held, shall be immune from search, requisition, confiscation, expropriation or any other form of taking or foreclosure by executive or legislative action. ARTICLE 45 : IMMMUNITY OF ARCHIVES The archives of the Fund, and, in general, all documents belonging to it or held by it, shall be inviolable, wherever, located. ARTICLE 46 : FREEDOM OF ASSETS FROM RESTRICTION To the extent necessary to carry out the purpose and function of the Fund, and subject to the provisions of this Agreement, all property and other assets of the Fund shall be free from restriction by financial controls, regulations, or moratoria of any kind. ARTICLE 47 : PRIVILEGE FOR COMMUNICATIONS Official communications of the Fund shall be accorded by each State participant the same treatment as it accords to the official communications of other international financial institutions of which it is a member. ARTICLE 48 : IMMUNITIES AND PRIVILEGES OF OFFICIALS AND PERSONNEL All governors and directs, and their alternates, the President and personnel, including experts performing missions for the Fund: (i) shall be immune from legal process with respect to acts performed by them in their official.....

Chit Funds Act, 1982 Complete Act

Title: Chit Funds Act, 1982

State: Central

Year: 1982

.....Section3 - Act to override other laws, memorandum, articles, etc. Chapter II Section4 - Prohibition of chits not sanctioned or registered under the Act Section5 - Prohibition of invitation for subscription except under certain conditions Section6 - Form of chit agreement Section7 - Filing of chit agreement Section8 - Minimum capital requirements for the commencement, etc., of a chit, and creation of a reserve fund, by a company Section9 - Commencement of chit Section10 - Copies of chit agreement to be given to subscribers Section11 - Use of the words "chit", "chit fund", " chitty or "kuri" Section12 - Prohibition of transacting business other than chit business by a company Section13 - Aggregate amount of chits Section14 - Utilisation of funds Section15 - Alteration of chit agreement Section16 - Date, time and place of conducting chits Section17 - Minutes of proceedings Section18 - Copies of minutes to be filed with Registrar Section19 - Restriction on opening of new place of business Chapter III Section20 - Security to be given by foreman Section21 - Rights of foreman Section22 - Duties of foreman Section23 - Books, records, etc., to be kept by foreman .....

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982 Section 17

Title: Certain Powers of the Central Government or Government Company

State: Central

Year: 1982

.....as the case may be, may make a claim to the Commissioner with regard to every payment made by that Government or Government company after the appointed day, for discharging any liability of the Company in relation to any period prior to the appointed day, and every such claim shall have priority, in accordance with the priorities attaching under this Act, to the matter in relation to which such liability has been discharged by the Central Government or the Government company. (3) Save as otherwise provided in this Act, the liabilities of the Company in respect of any transaction prior to the appointed day, which have not been discharged on or before the specified date1 shall be the liabilities of the Company. ____________________________ 1. 19-12-1985 appointed as such specified date.

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982 Chapter VI

Title: Commissioner of Payments

State: Central

Year: 1982

.....within the meaning of sections 193 and 228 of the Indian Penal Code and the Commissioner shall be deemed to be a Civil Court for the purposes of section 195, and Chapter XXVI, of the Code of Criminal Procedure, 1973. (7) A claimant who is dissatisfied with the decision of the Commissioner may prefer an appeal against such decision to the principal civil Court of original jurisdiction within the local .imits of whose jurisdiction the registered office of the Company is situated : Provided that where a person who is a Judge of High Court is appointed to be the Commissioner, such appeal shall lie to the High Court exercising jurisdiction over the place in which the registered office of the Company is situated and such appeal shall be heard and disposed of by not less than two Judges of that High Court. Section 22 - Disbursement of money by the Commissioner After admitting a claim under this Act, the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due, and on such payment, the liability of the Company in respect of such claim shall stand discharged. Section 23 - Disbursement of amounts to the Company .....

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act, 1982 Complete Act

State: Central

Year: 1982

.....and the order, if any, for the payment of the claim being treated as an order for the refund of revenue. CHAPTER 07: MISCELLANEOUS SECTION 25: ACT TO HAVE OVERRIDING EFFECT - The provisions of this Act shall have effect notwithstanding anything inconsistent therewith in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal or other authority. SECTION 26: CONTRACTS TO CEASE TO HAVE EFFECT UNLESS RATIFIED BY CENTRAL GOVERNMENT OR GOVERNMENT COMPANY - Every contract entered into by the Company in relation to any of its undertakings, which has vested in the Central Government under section 3-, for any service, sale or supply, and in force immediately before the appointed day, shall, on and from the expiry of a period of thirty days from the date on which this Act receives the assent of the President, cease to have effect unless such contract is, before the expiry of that period, ratified in writing, by the Central Government or the Government company in which such undertaking has been vested under this Act and in ratifying such contract, the Central Government.....

State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982 Complete Act

State: Central

Year: 1982

.....obligations of whatever kind then subsisting of the Sikkim Bank in relation to its undertakings. (2) Unless otherwise expressly provided in this Act, all contracts deeds, bonds, agreements, powers of attorney, grants of legal representation and other instruments of whatever nature subsisting or having effect immediately before the appointed day and to which the Sikkim Bank is a party or which are in favour of the said Bank shall be of as full force and effect against or in favour of the Central Government. (3) If, on the appointed day, any suit, appeal or other proceeding of whatever nature in relation to any business of the undertakings which have been transferred underSection 4-is pending by or against the Sikkim Bank, the same shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer of the undertakings of the Sikkim Bank: or of anything contained in this Act, but the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the Central Government. SECTION 06: VESTING OF THE SHARES AND UNDERTAKINGS OF SIKKIM BANK IN THE STATE GOVERNMENT (1) Notwithstanding anything contained in sections 3-,4-and5-,.....