Bare Act Search Results

Finance Act, 1981 Chapter III

Title: Direct Taxes

State: Central

Year: 1981

.....words "first proviso" shall be substituted. Section 26 to 31 - Wealth-Tax Section 26 - Amendment Of Section 21 In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this.....

Finance Act, 1981 Section 14

Title: Amendment of Section 160

State: Central

Year: 1981

In section 160 of the Income-tax Act, in sub-section (1), after clause (iv), the following clause and Explanations shall be inserted, namely :- '(v) in respect of income which a trustee appointed under an oral trust receives or is entitled to receive on behalf or for the benefit of any person, such trustee or trustees. Explanation 1 : A trust which is not declared by a duly executed instrument in writing [including any wakf deed which is valid under the Mussalman Wakf Validation Act, 1913 (6 of 1913)] shall be deemed, for the purposes of clause (iv), to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Income-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust. Explanation 2 : For the purposes of clause (v), "oral trust" means a trust which is not declared by a.....

Finance Act, 1981 Section 26

Title: Amendment of Section 21

State: Central

Year: 1981

In section 21 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), - (a) in sub-section (1), the following Explanation shall be inserted, namely :- "Explanation : A trust which in not declared by a duly executed instrument in writing (including a valid deed of wakf) shall be deemed, for the purposes of this sub-section, to be a trust declared by a duly executed instrument in writing if a statement in writing, signed by the trustee or trustees, setting out the purpose or purposes of the trust, particulars as to the trustee or trustees, the beneficiary or beneficiaries and the trust property, is forwarded to the Wealth-tax Officer, - (i) where the trust has been declared before the 1st day of June, 1981, within a period of three months from that day; and (ii) in any other case, within three months from the date of declaration of the trust."; (b) in sub-section (4), - (i) for the words "Notwithstanding anything contained in this section", the words "Notwithstanding anything contained in the foregoing provisions of this section" shall be substituted; (ii) in Explanation 2, for the words "for the purposes of this sub-section in any.....

National Bank for Agriculture and Rural Development Act, 1981 Complete Act

State: Central

Year: 1981

.....shall stand dissolved. The Bill also provides for changes of a supplemental, incidental or consequential nature in the Reserve Bank of India Act, 1934,the Banking Regulation Act, 1949the Industrial Disputes Act. 1947andthe Payment of Bonus Act, 1965. 4. The Notes on clauses appended to the Bill explain the provisions of the Bill.-See Gaz, of India, 18-9-1981, Pt. II.S.2,Ext.p.683. 1An Act to establish a development bank to be known as the National Bank for Agriculture and Rural Development for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Thirty-second Year of the Republic of India as follows :- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEPIENT (1)This Act may be called the National Bank for Agriculture and Rural Development Act, 1981 . (2) It extends to the whole of India. (3) It shall.....

Assam State Legislature (Delegation of Powers) Act, 1981 [Repealed] Repealing Act 1

Title: Repealing and Amending Act, 1988

State: Central

Year: 1981

.....in the Second Schedule are hereby amended to the extent and in the manner mentioned in the fourth column thereof. 4. Savings The repeal by this Act of any enactment shall not affect any other enactment in which the repealed enactment has been applied, incorporated or referred to; and this Act shall not affect the validity, invalidity, effect or consequences of anything already done or suffered, or any right, title, obligation or liability already acquired, accrued or incurred, or any remedy or proceeding in respect thereof, or any release or discharge of or from any debt, penalty, obligation, liability, claim or demand, or any indemnity already granted, or the proof of any past act or thing; nor shall this Act affect any principle or rule or law, or established jurisdiction, form or course of pleading, practice or procedure, or existing usage, custom, privilege, restriction, exemption, office or appointment, notwithstanding that the same respectively may have been in any manner affirmed or recognised or derived by, in or from any enactment hereby repealed; nor shall the repeal by this Act of any enactment revive or restore any jurisdiction, office, custom, liability,.....

Export Import Bank of India Act, 1981 Complete Act

State: Central

Year: 1981

.....it enacted by Parliament in the Thirty-second Year of the Republic of India as follows:- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Export-Import Bank of India Act, 1981. (2) It extends to the whole of India. (3) It shall come into force on such date1as the Central Government may, by notification in the Office of this Act in the Official Gazette, appoint, and different dates may be appointed for different provisions SECTION 02: DEFINITIONS. In this Act, unless the context otherwise requires,- (a) "Board" means the Board of Directors of Exim Bank referred to in S. 6; (b) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964- (c) "Exim Bank" means the Export-Import Bank of India established under section 3-; (d) "export" and "import" mean, respectively, export from or import into India or any other country of goods or services, or both; (e) "goods" includes all materials, commodities and articles in a solid, liquid or gaseous state and all forms of energy; (f) "notification" means a notification published in the Official Gazette; (g) "prescribed" means.....

National Bank for Agriculture and Rural Development Act, 1981 Chapter IV

Title: Transfer of Business to the National Bank

State: Central

Year: 1981

.....by or against the National Bank. Section 17 - Dissolution of the Corporation and repeal of Act 10 of 1963 On the date appointed under sub-section (1) of section 16 (a) the Corporation shall stand dissolved and (b) the Agricultural Refinance and Development Corporation Act 1963 shall stand repealed. Section 18 - Transfer of business from Reserve Bank (1) On such date as the Central Government may in consultation with the Reserve Bank, by notification, appoint the assets and liabilities with the Reserve Bank relating to (a) the National Agricultural Credit (Long Term Operation) Fund established and maintained under section 46A of the Reserve Bank of India Act, 1934 and (b) the National Agricultural Credit (Stabilization) Fund established and maintained under section 46B of the Reserve Bank of India Act, 1934, shall stand transferred to the National Bank and form part of the National Rural Credit (Long Term Operations) Fund referred to in section 42 and the National Rural Credit (Stabilization) Fund referred to in section 43, respectively (2) With effect from such date as the Central Government may, in consultation with the Reserve Bank, by notification,.....

Export-import Bank of India Act, 1981 Section 26

Title: Transfer of Part of Business of Development Bank

State: Central

Year: 1981

.....of the Development Bank but also to any of the other functions of that Bank be continued, prosecuted and enforced by or against the Development Bank and the Exim Bank or, if the Central Government by special order in writing so directs, by or against such one of the said two Banks, as may be specified in such order. (5) If any question arises as to whether any contract, deed, bond, agreement, powers of attorney, grant of legal representation or other instrument referred to in sub-section (3) or any suit, appeal or other legal proceeding referred to in sub-section (4) relates or relates exclusively to the export financing functions of the Development Bank, it shall be referred to the Central Government for decision and the decision of the Central Government thereon shall be final. (6) The provisions of this section shall have effect not withstanding anything contained in the Industrial Development Bank of India Act, 1964 or any other law or any instrument having force by virtue of the said Act or other law.

Export-import Bank of India Act, 1981 Chapter 8

Title: Transfer of Part of Business of Development Bank

State: Central

Year: 1981

.....of the Development Bank but also to any of the other functions of that Bank be continued, prosecuted and enforced by or against the Development Bank and the Exim Bank or, if the Central Government by special order in writing so directs, by or against such one of the said two Banks, as may be specified in such order. (5) If any question arises as to whether any contract, deed, bond, agreement, powers of attorney, grant of legal representation or other instrument referred to in sub-section (3) or any suit, appeal or other legal proceeding referred to in sub-section (4) relates or relates exclusively to the export financing functions of the Development Bank, it shall be referred to the Central Government for decision and the decision of the Central Government thereon shall be final. (6) The provisions of this section shall have effect not withstanding anything contained in the Industrial Development Bank of India Act, 1964 or any other law or any instrument having force by virtue of the said Act or other law.

National Bank for Agriculture and Rural Development Act, 1981 Section 16

Title: Transfer of Assets and Liabilities of Agricultural Refinance and Development Corporation

State: Central

Year: 1981

.....of the Corporation to the National Bank under sub-section ((1) the National Bank shall within six months from the date appointed under that sub-section (hereinafter in this sub-section referred to as the appointed date) pay to the shareholders of the Corporation a sum of equal to the total paid-up capital of the corporation as on the date immediately preceding the appointed date. (3) The amount of compensation payable under sub-section (2) to the share holders of the Corporation shall be appropriated among the shareholders in proportion to their contributions to the paid-up capital of the Corporation as on the date immediately preceding the appointed date. Explanation--For the purposes of this sub-section, shareholders of the Corporation means shareholders of the Corporation whose names appear on the register of shareholders maintained under section 8 of the Agricultural Refinance and Development Corporation Act, 1963, on the date immediately preceding the appointed date. (4) The National Bank shall also pay to the shareholders of the Corporation referred to in sub-section (2) an amount calculated at the rate at which the shares to the Corporation were guaranteed as to.....