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Start Free TrialBanking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006 Complete Act
Title: Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act, 2006
State: Central
Year: 2006
Preamble1 - BANKING COMPANIES (ACQUISITION AND TRANSFER OF UNDERTAKINGS) AND FINANCIAL INSTITUTIONS LAWS (AMENDMENT) ACT, 2006 Chapter I Section1 - Short title and Commencement Chapter II Section2 - Amendment of section 3 Section3 - Amendment of section 9 Section4 - Insertion of new section 9A Section5 - Amendment of section 10A Section6 - Insertion of new section 10B Section7 - Insertion of new section 18A Chapter III Section8 - Amendment of section 3 Section9 - Amendment of section 9 Section10 - Insertion of new section 9A Section11 - Amendment of section 10A Section12 - Insertion of new section 10B Section13 - Insertion of new section 18A Chapter IV Section14 - Amendment of section 20 Section15 - Amendment of section 21A Chapter V Section16 - Amendment of section 26 of Act 38 of 1959 Chapter VI Section17 - Amendment of section 6 of Act 47 of 1961 Section18 - Amendment of section 6 of Act 28 of 1981 Section19 - Amendment of section 7 of Act 53 of 1987
List Judgments citing this sectionRajiv Gandhi University Act 2006 Schedule I
Title: First Schedule
State: Central
Year: 2006
.....at least once in an academic year preferably in the beginning of that year. 41. Ordinances, how made (1) The first Ordinances made under sub-section (2) of section 31 may be amended, repealed or added to at any time by the Executive Council in the manner specified in the following clauses. (2) No Ordinance in respect of the matters enumerated in sub-section (1) of section 31 shall be made by the Executive Council unless a draft of such Ordinance has been proposed by the Academic Council. (3) The Executive Council shall not have power to amend any draft of any Ordinance proposed by the Academic Council under clause (2), but may reject the proposal or return the draft to the Academic Council for re-consideration, either in whole or in part, together with any amendment which the Executive Council may suggest. (4) Where the Executive Council has rejected or returned the draft of an Ordinance proposed by the Academic Council, the Academic Council may consider the question afresh and in case the original draft is reaffirmed by a majority of not less than two-thirds of the members present and voting and more than half the total number of members of the Academic Council,.....
View Complete Act List Judgments citing this sectionScheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 Chapter III
Title: Recognition, Restoration and Vesting of Forest Rights and Related Matters
State: Central
Year: 2006
.....procedure is complete. (6) Where the forest rights recognised and vested by sub-section (1) are in respect of land mentioned in clause (a) of sub-section (1) of section 3 such land shall be under the occupation of an individual or family or community on the date of commencement of this Act and shall be restricted to the area under actual occupation and shall in no case exceed an area of four hectares. (7) The forest rights shall be conferred free of all encumbrances and procedural requirements, including clearance under the Forest (Conservation) Act, 1980 (69 of 1980), requirement of paying the 'net present value' and 'compensatory afforestation' for diversion of forest land, except those specified in this Act. (8) The forest rights recognised and vested under this Act shall include the right of land to forest dwelling Scheduled Tribes and other traditional forest dwellers who can establish that they were displaced from their dwelling and cultivation without land compensation due to State development interventions, and where the land has not been used for the purpose for which it was acquired within five years of the said acquisition. Section 5 - Duties of holders of.....
View Complete Act List Judgments citing this sectionFinance Act, 2006 Schedule I
Title: First Schedule
State: Central
Year: 2006
.....any debentures issued by a company where such debentures are listed on a recognised stock exchange in India in accordance with the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and any rules made thereunder (vi) on any other income 20 per cent.; (b) where the person is not resident in India-- (i) in the case of a non-resident Indian-- (A) on any investment income 20 per cent.; (B) on income by way of long-term capital gains referred to in section 115E 10 per cent.; (C) on income by way of short-term capital gains referred to in section 111A 10 per cent.; (D) on other income by way of long-term capital gains [not being long-term capital gains referred to in clauses (33), (36) and (38) of section 10] 20 per cent.; (E) on income by way of interest payable by Government or an Indian concern on moneys borrowed or debt incurred by Government or the Indian concern in foreign currency 20 per cent.; (F) on income by way of royalty payable by Government or an Indian concern in pursuance of an.....
View Complete Act List Judgments citing this sectionFinance Act, 2006 Section 68
Title: Amendment of Act 32 of 1994
State: Central
Year: 2006
.....clause (35), the following clause shall be inserted, namely:-- '(35a) "customs airport" means an airport appointed as such under clause (a) of subsection (1) of section 7 of the Customs Act, 1962(52 of 1962);'; (12) in clause (38), for the words "commercial concern", the word "person" shall be substituted; (13) in clause (39a), in sub-clause (i), for the words "machinery or equipment", the words "machinery, equipment or structures, whether pre-fabricated or otherwise" shall be substituted; (14) in clause (50b), for the words "commercial concern which", the words "person who" shall be substituted; (15) after clause (56), the following clauses shall be inserted, namely:-- '(56a) "international journey", in relation to a passenger, means his journey from any customs airport on board any aircraft to a place outside India; (56b) "internet" means a global information system which is logically linked together by a globally unique address, based on Internet Protocol or its subsequent enhancements or upgradations and is able to support communications using the Transmission Control Protocol or Internet Protocol suite or its subsequent enhancements or upgradations and all.....
View Complete Act List Judgments citing this sectionFinance Act, 2006 Chapter IV
Title: Indirect Taxes
State: Central
Year: 2006
.....reconciliation and value-added services; (9c) "banker to an issue" means a bank included in the Second Schedule to the Reserve Bank of India Act, 1934(2 of 1934), carrying on the activities relating to an issue including acceptance of application, application money, allotment money and call money, refund of application money, payment of dividend and interest warrants;'; (5) in clause (12), in sub-clause (a),-- (a) for the words "commercial concern", the words "any other person" shall be substituted; (b) item (ii) shall be omitted; (c) for item (viii), the following items shall be substituted, namely:-- "(viii) banker to an issue services; and (ix) other financial services, namely, lending, issue of pay order, demand draft, cheque, letter of credit and bill of exchange, transfer of money including telegraphic transfer, mail transfer and electronic transfer, providing bank guarantee, overdraft facility, bill discounting facility, safe deposit locker, safe vaults, operation of bank accounts;"; (6) in clause (19), in the Explanation, in clause (b), for the words "developing or maintaining of computer software, or computerised data processing", the words "or.....
View Complete Act List Judgments citing this sectionFinance Act, 2006 Section 16
Title: Amendment of Section 80c
State: Central
Year: 2006
In section 80C of the Income-tax Act, in sub-section (2), with effect from the 1st day of April, 2007,-- (a) in clause (xi), for the words, brackets, figures and letter "notified under clause (23D)", the words, brackets, figures and letter "referred to in clause (23D)" shall be substituted; (b) in clause (xiii), for the words, brackets, figures and letter "notified under clause (23D)", the words, brackets, figures and letter "referred to in clause (23D)" shall be substituted; (c) in clause (xiv), for the words, brackets, figures and letter "notified under clause (23D)", the words, brackets, figures and letter "referred to in clause (23D)" shall be substituted; (d) after clause (xx), the following shall be inserted, namely:-- ''(xxi) as term deposit- (a) for a fixed period of not less than five years with a scheduled bank; and (b) which is in accordance with a scheme framed and notified, by the Central Government, in the Official Gazette for the purposes of this clause.". Explanation.--For the purposes of this clause, "scheduled bank" means the State Bank of India constituted under the State Bank of India Act, 1955(23 of 1955), or a subsidiary bank as defined in.....
View Complete Act List Judgments citing this sectionFinance Act, 2006 Section 14
Title: Amendment of Section 54ed
State: Central
Year: 2006
In section 54ED of the Income-tax Act, in sub-section (1), for the words "from the transfer of a long-term capital asset,", the words, figures and letters "from the transfer before the 1st day of April, 2006, of a long-term capital asset," shall be substituted with effect from the 1st day of April, 2007.
View Complete Act List Judgments citing this sectionFinance Act, 2006 Chapter III
Title: Direct Taxes
State: Central
Year: 2006
.....where an assessee claims that no expenditure has been incurred by him in relation to income which does not form part of the total income under this Act". Section 8 - Amendment of section 17 In section 17 of the Income-tax Act, in clause (2), after sub-clause (vi), in the proviso, with effect from the 1st day of April, 2007,-- (i) in clause (iii), after the words "Central Government", the words, brackets and figures "or the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999,(41 of 1999)" shall be inserted; (ii) in clause (iv), after the words "Central Government", the words, brackets and figures "or the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999,(41 of 1999)" shall be inserted. Section 9 - Amendment of section 36 In section 36 of the Income-tax Act, in sub-section (1),-- (a) for clause (ib), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:-- "(ib) the amount of any premium paid by cheque by the.....
View Complete Act List Judgments citing this sectionDalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Amendment Act, 2006 Section 2
Title: Amendment of Section 9 if Act 31 of 1981
State: Central
Year: 2006
In section 9 of the Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981, for the words "do in relation to its undertakings", the words, letters, figures and brackets do in relation to its undertakings, including the power to dispose off the assets of the undertakings of the Company vested upon it, by the notification of the Government of India, in the Ministry of Industry (Department of Industrial Development) number S.O. 502(E), dated the 23rd June, 1981, under sub-section (1) of section 6, if such disposal of the assets is considered necessary by the Cement Corporation due to legal or financial considerations" shall be substituted.
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