Category Archive Public Related Laws

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The Public Accountants Default Act, 1850

ACT NO.12 OF 1850

[AS ON 1995]

[22nd March, 1850.]

For better avoidance of loss through the default of public accountants: It is enacted as follows. (Preamble.)

For avoiding loss by the default of Public Accountants

1. Public Accountants to give security.

Every public accountant shall give security for the due discharge of the trusts of his office, and for the due account of all moneys which shall come into his possession or control, by reason of his office.

2. Amount and kind of security, and with what sureties.

In default of any Act having special reference to the office of any public accountant, the security given shall be of such amount and kind, real or personal, or both, and with such sureties (regard being had to the nature of the office), as shall be required by any rules made or to be made from time to time, by the authority by which each public accountant is appointed to his office, 1[****]

2[****]

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1. The words “subject to the approval of the Governor or Governor in Council of the Presidency or place” rep.by the A.O.1937.

3. Public accountant defined.

1Public accountant defined. For the purposes of sections 1 and 2 of this Act, the expression “public accountant” means any person who as Official Assignee or Trustee, or as sarbarahkar, is entrusted with the receipt, custody or control of any moneys or securities for money, or the management of any lands belonging to any other person or persons, and for the purposes of sections 4 and 5 of this Act the expression shall also include any person who, by reason of any office held by him in the service of the Central Government or the Government of a Part A State, is entrusted with the receipt, custody or control of any moneys or securities for money, or the management of any lands belonging to such Government.]

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1. Subs. by the A.O.1927 for the original s.3

4. Prosecution of accountants and sureties.

The person or persons at the head of the office to which any public accountant belongs may proceed against any such public accountant and his sureties for any loss or defalcation in his accounts, as if the amount thereof were an arrear of land-revenue due to Government.

5. Enactments applied to proceedings by and against accountants–

All Regulations and Acts now or here after to be in force for the recovery of arrears of land-revenue due to Government, and for recovery of damages by any person wrongfully proceeded against for any such arrear shall apply, with such changes in the forms of procedure as are necessary to make them applicable to the case, to the proceedings against and by such public accountant 1.

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1. For the law relating to the recovery of revenue-arrears, see the Revenue Recovery Act, 1890 (1 of 1890

6. Validation of former rules.

Rep.by the Repealing Act, 1870 (14 of 1870)

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The Public Employment (Requirement as To Residence) Act, 1957

[Act No. 44 of 1957]

[7th December, 1957]

An Act to make in pursuance of clause (3) of article 16 of the Constitution special provisions for requirement as to residence in regard to certain classes of public employment in certain areas and to repeal existing laws prescribing any such requirement.

BE it enacted by Parliament in the Eighth Year of the Republic of India as follows.

1. Short title and commencement.

(1) This Act may be called the Public Employment (Requirement as to Residence) Act, 1957.

(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

2. Repeal of existing laws prescribing requirements as to residence.

Upon the commencement of this Act, any law then in force in any State or Union territory by virtue of clause (b) of article 35 of the Constitution prescribing, in regard to a class or classes of employment or appointment to an office under the Government of, or any local or other authority within, that State or Union territory, any requirement as to residence therein prior to such employment or appointment shall cease to have effect and is hereby repealed.

3. Power to make rules in respect of certain classes of public employment in certain areas.

(1) The Central Government may, by notification in the Official Gazette, make rules prescribing, in regard to appointments to-

(a) Any subordinate service or post under the State Government of Andhra Pradesh, or

(b) Any subordinate service or post under the control of the Administrator of Himachal Pradesh, Manipur or Tripura, or

(c) Any service or post under a local authority (other than a cantonment board) within the Telangana area of Andhra Pradesh or within the Union territory of Himachal Pradesh, Manipur or Tripura,

Any requirement as to residence within the Telangana area or the said Union territory, as the case may be, prior to such appointment.

(2) In this section.-

(a) “Subordinate service or post” means any service or post appointments to which are not notified in the Official Gazette but includes any service of tehsildars;

(b) “Telangana area” comprises all the territories specified in sub-section (1) of section 3 of the States Reorganisation Act, 1956(37 of 1956).

4. Parliamentary scrutiny of rules.

All rules made under section 3 shall, as soon as may be after they are made, be laid for not less than thirty days before each House of Parliament and shall be subject to such modifications as Parliament may make during the session in which they are so laid, or in the session immediately following.

5. Duration of section 3 and rules.

Section 3 and all rules made thereunder shall cease to have effect on the expiration of five years from the commencement of this Act, but such cesser shall not affect the validity of any appointment previously made in pursuance of the said rules.

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Public Debt Act, 1944

Preamble

(18 of 1944)1

22nd November, 1944

An Act to consolidate and amend the law relating to Government securities 2[* * *] and to the management by the Reserve Bank of India. Of the public debt of 3[the Government].

WHEREAS it is expedient to consolidate and amend the law relating to Government securities 2[* * *] and to the management by the Reserve Bank of India of the public debt of 3[the Government]; It is hereby enacted as follows :-

STATEMENT OF OBJECTS AND REASONS

“The great bulk of Government obligations in India have till very recently been expressed in the form of promissory notes which pass from hand to hand by endorsement and delivery. Stock certificates, i.e., certificates which are not negotiable themselves but merely record title, the actual transfers requiring registration in the books of the Public Debt Office, are of comparatively recent introduction. Not unnaturally, therefore, the law of Government securities in India, started as an appendage to the law of Negotiable Instruments, modifying it where necessary to meet the peculiar circum- stances of Government promissory notes such as (1) their validity for a period much longer than that of the ordinary negotiable instrument of commerce and the concomitant necessity of issuing separate instruments to replace the originals for the record of interest payments, and (2) their being held more widely than ordinary negotiable commercial instruments ‘ by various classes of investors in addition to the financial and business community. The fact that Government loans were almost entirely in the form of promissory notes meant that the special modifications of the law, effected from time to time to meet practical difficulties only related to Government obligations held in this form, with the result that when the previous legislation was revised in the Act of 1920, a clear distinction was not always drawn between those parts of the law which ought to relate to Government securities as a whole and those which merely related to promissory notes. A striking instance of this is provided by section 13(Act X of 1920) providing for the summary provisional settlement of disputes, which is confined only to promissory notes. Although logically imperfect, this position did not in the past lead to any practical difficulties as the holders of Government loans in the form of stock certificates were comparatively few. As a result of war conditions however, and the efforts of the Reserve Bank as agent of Government in the management of public debt to popularise stock certificate in the interest of safety and administrative convenience the proportion of Government loans held in the form of stock certificates or in special subsidiary ledger accounts, which the Bank has undertaken to maintain for large institutional holders, has substantially increased, and the time appears to be opportune for recasting the provisions of the Indian Securities Act, 1920so as to provide more satisfactorily for the management of Central public debt.

Apart from the fact that Section 13of the 1920 Act fails to provide for the summary provisional settlement of disputes regarding Government loans held otherwise than as promissory notes the machinery which it provides is in itself incomplete and there have been numerous cases where on account of disputant contenting himself with the mere issue of a notice of dispute to the Public Debt Office and abstaining from prosecuting his claim in a Court of law, or on account of vague stop orders emanating from Courts, the periodical payment of interest has been held up for unconscionably long periods, much to the annoyance and prejudice of the actual holder. There have also been numerous instances in which where the matter has been taken to Court, Government and the Reserve bank have been made parties to what was essentially a dispute between two private parties in the decision of which Government or the Bank had no interest. It is. there- fore, considered desirable to recase this part of the law so as to provide for a summary adjudication by the Reserve Bank of dispules as to the title to be the holder of a security, with a necessary safeguard by way of a guarantee of indemnity to ensure that the interests of the party who may ultimately succeed in establishing in a Court of law his right to hold the security are not prejudiced.

The legislative competence of the Central Legislature extends, however, only to legislation affecting public debt of the Central Government, while the public debt of a Province is subject to legislation in the Provincial Legislature only. The Act of 1920, which regulates public debt of both kinds, is amenable to amendment by the Central Legislature 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. find, 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 the war years. Under the Government of India Act, 1935, the Central Legislature was competent to change only the law in respect of central securities and the provisions of the Indian Securities Act, 1920, were accordingly replaced, so far as the Central public debt was concerned, by a comprehensive new Act, the Public debt (Central Government) Act, 1944, which was brought into effect from the 1st May, 1946 leaving the Provincial securities to be regulated by the Indian Securities Act, 1920. As the money market is common to the whole country and the public debt of the Central and Provincial Governments is administered by a single agency namely, the Reserve Bank, it is obviously desirable to have uniform legislation for regulating the public debt of both. The Provincial Governments concur in this view and the Chambers of the Legislatures of all the Provinces in India have passed resolutions recommending that the securities issued by their respective Governments and their public debt should be regulated by an Act of the Dominion Legislature. It is accordingly proposed to amend the public Debt (Central Government) Act so as to extend it to cover the public debt of all the Provincial Governments”.-S.O.R. Gaz. of India.. 1949. Pt. V. p. 37.

Amendment Act 57 of 1956. –

“The public debt and securities of the Union and Part A States are at present administered by the Reserve Bank of India in accordance with the Public Debt Act, 1944, and the rules made there under. The Act at present does not extend to securities created and issued by the Governments of Part B States. Some of these States have their own Public Debt laws while others have acquired public debt only recently and have no regular law on the subject. Securities issued by the Governments of Pan B States are circulating in all parts of the country and the public- debt of Part B States is also being administered by the Reserve Bank of India. It is, therefore, desirable that there should be uniformity of procedure in respect of the public debt of the Union and all Part A and Part B States and that the Public Debt Act, 1944 should apply to securities issued by the Government of Part B States as it applies to securities issued by the Central Government or a Part A State. The Legislatures of Part B States other than that of the State of Jammu and Kashmir have passed resolutions in pursuance of Article 252 of the Constitution empowering Parliament to pass the necessary legislation on the subject. The Bill, accordingly amends the Public Debt Act, 1944, so as to make it applicable to securities issued by the Governments of Part B States other than the Government of Jammu and Kashmir and makes certain other minor and incidental amendments in that Act”.-S.O.R. Gaz. ofind., 27-8-1956, Pt. II, S. 2, Ext., p. 772.

Amendment Act 44 of 1959.-“

Ten-Year Treasury Savings Deposit Certificates and 15-Year Annuity Certificates which are sold and discharged through the Reserve Bank of India are governed by the provisions of the Public Debt Act, 1944Section 7of that Act provides that if the face value of the Government securities belonging to a deceased holder exceeds Rs. 5,000, the executors or administrators of the deceased holder and the holder of a succession certificate shall be the only persons who may be recognised by the Reserve Bank as having any title of these securities.

2. Suggestions have been made from time to time that as the production of legal proof of succession involves considerable delay and expense, the holders of Ten-year Treasury Savings Deposit Certificates and 15-Year Annuity Certificates may be allowed the right to nominate a person or persons to whom the amount due on the certificate could be paid in the event of the death of the holders without the production of succession certificate or other proof of title. This Bill accordingly seeks to allow the facility of nomination to holders of the aforementioned certificates.”-S.O.R. Gaz. ofind. 27-8-1959, Pt. 11,S. 2, Extra, page 878.

Amending Act 44 of 1972.-

The public debt and the securities of the Central and State Governments, other than the Government of the State of Jammu and Kashmir, are at present administered by the Reserve Bank of India in accordance with the provisions of the Public Debt Act, 1944. and the rules made there under. In 1956, the Legislatures of the erstwhile Part B States, other Legislatures of the erstwhile Part B States, other than that of the State of Jammu and Kashmir, passed resolutions in pursuance of Article 252(1) of the Constitution empowering Parliament to amend the Public Debt Act, 1944, so as to make it applicable to securities issued by the Governments to those States and to their public debt. The Government of Jammu and Kashmir proposes to raise public loans from this year for augmenting resources for financing its developmental outlays and has requested that the Public Debt Act, 1944 may be made applicable to securities to be issued by it and to its public debt. The Legislative Assembly and the Legislative Council of the State of Jammu and Kashmir have passed resolutions in pursuance of Article 252( I ) of the Constitution empowering Parliament to amend the Public Debt Act, 1944, with a view to make the provisions thereof applicable to securities issued by the Government of the State of Jammu and Kashmir and to its public debt. The Bill seeks to amend the Public Debt Act, 1944 for the aforesaid purpose.-S.O.R.-Gaz. ofind., 8-8-1972, Pt. II, S. 2, Ext. p. 672.

ACT HOW AFFECTED BY SUBSEQUENT LEGISLATION

—Amended by Acts 6 of 1949; 57 of 1956; 44 of 1959; 44 of 1972.

—Adapted by A.C.A.O., 1948;A.L.O., 1950: 3 A.L.O., 1956.

—Extended by Acts 59 of 1949; 30 of 1950; Regns. 12 of 1962; 6 of 1963; 7 of 1963; 8 of 1965.

—Extended in Madras by Mad. Act 35 of 1949.

—Extended in Travancore-Cochin by T. C. Ord. 5 of 1953.

—Extended in Rajasthan by Raj. Ord. 5 of 1956.

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1 For Statement of Objects and Reasons, see Gaz. of Ind., 1943, Pt. V, p. 162.

This Act has been extened to the new Provinces and merged States by the Merged States (Laws) Act, 1949 (59 of 1949), S. 3 (1-1-1950) and to the States of Manipur, Tripura and Vindhya Pradesh by the Union Territories (Laws) Act, 1950 (30 of 1950), S. 3 (16-4-1950). Manipur and Tripura are full-fledged States. Vindhya Pradesh is a part of the State of Madhya Pradesh—See Acts.81 of 1971 and 37 of 1956, S. 9 respectively.

It has also been extended to the States merged in the State of Madras : See Mad. Act 35 of 1949, S. 3 (1-1-1950).

This Act and the Rules made thereunder have been made applicable to the Government securities of the State of Rajasthan issued before or after 11th September 1956; see Raj. Ord. 5 of 1956, S. 2 (11-9-1956);

This Act and the rules made thereunder are made applicable to the Government securities of the State of Travancore-Cochin issued on or after the 13th July, 1953 as they apply to Government securities of a Part A State—See Trav. Co. Ordi. 5 of 1953, 8.2(31-10-1953).

The Act has been extended to Union Territory of—

(1) Goa, Daman and Diu by Regn. 12 of 1962 (1-2-1965);

(2) Dadra and Nagar Haveli by Regn. 6 of 1963 (1 -7-1965);

(3) Pondicherry by Regn. 7 of 1963 (1-10-1963);

(4) Laccadive, Minicoy and Amindivi Islands by Regn. 6 of 1965 (1-10-1967).

2 The words “issued by the Central Government” were omitted by the Public Debt (Central Government) Amendment Act, 1949 (6 of 1949), S. 2 (1 -4-1949).

3. Substituted for the words “the Union and the Part A States” by the Public Debt (Amendment) Act, 1956 (57 of 1956), 8.2(15-10-1956).

Section 1. Short title and commencement

(1) This Act may be called the Public Debt 1[**] Act, 1944.

2[*****]

(3) It shall come into force on such 3date as the Central Government may, by notification in the official Gazette, appoint in this behalf.

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1. The words and brackets “(Central Government)” were omitted by the Public Debt (Cenrtral Government) Amendment Act, 1949 (6 of 1949), S. 3 (1-4-1949).

2. Sub-section (2) was omitted by the Public Debt (Amendment) Act, 1956 (57 of 1956), S. 3(15-10-1956).

3. The Act came into force on 1-5-1946, see Notfn. F.I. (1)—B/46, D/- 20-4-1946, Gaz. of Ind., 1946, Pt. I, p. 575.

1[1A. Securities to which this Act applies.

This Act applies to Government securities created and issued whether before or after the commencement of this Act by the Central Government or a State Government 2[* ********]

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1 Inserted by the Public Debt (Amendment) Act, 1956 (57 of 1956), Section 4 (15-10-1956). By S. 15 of this Amendment Act the following enactments are, subject to a saving clause, repealed, namely, (1) the-Madhya Bharat Public Debt Act, 1953; (2) the Mysore Public Debt Act, 1953; (3) the Saurashtra Public Debt Act, 1953; and (4) the Travancore-Cochin Public Debt Act, 1954.

2. Words “other than the Government of Jammu and Kashmir” omitted by the Public Debt (Amendment) Act, 1972 (44 of 1972), S. 2 (w.r.e.f. 1-9-1972).

Section 2. Definitions

In this Act, unless there is anything repugnant in the subject or context,-

(1) “The Bank” means the Reserve Bank of India;

1[(1A) “The Government” in relation to any Government security means the Central or State Government issuing the security;]

(2) “Government security” means-

(a) A security, created and issued, 2[by the Government] for the purpose of raising a public loan, and having one of the following forms, namely:-

(i) Stock transferable by registration in the books of the Bank; or

(ii) A promissory note payable to bearer; or

(iii) A form prescribed in this behalf;”

(b) Any other security created and issued by 3[the Government] in such form” and for such of the purposes of this Act as may be prescribed;

(3) “Prescribed” means prescribed by rules made under this Act;

(4) “Promissory note” includes a treasury bill.

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1. Inserted by the Public Debt (Central Government) Amendment Act, 1949 (6 of 1949), S. 4 (1-4-1949).

2. Substituted for the words “whether before or after the commencement of this Act, by the Central Government or a State Government” by the Public Debt (Amendment) Act, 1956 (57 of 1956), S. 5 (15-10-1956).

3. Substituted for the words “the Central Government or a State Government”, Substituted for the words “whether before or after the commencement of this Act, by the Central Government or a State Government” by the Public Debt (Amendment) Act, 1956 (57 of 1956), S. 5 (15-10-1956).

Section 3. Transfer of Government securities

(1) 1[Subject to the provisions of Section 5-, a transfer of a Government security shall be made only in the manner prescribed for the making of transfers of securities of the classic which it belongs, and no transfer of a Government security which-

(i) Is made after the 30th April, 1946, in the case of a security issued by the Central Government,

(ii) Is made after the 31st March, 1949, in the case of a security issued by the Government of a Part A State,

(iii) Is made after the 14th October, 1956, in the case of a security issued by the Government of a Part B State other than Jammu and Kashmir,2[*],

(iv) Is made on or after the 1st day of November, 1956, in the case of a security issued on or after that day by the Government of any State other than Jammu and Kashmir, shall be valid if-] 2[and]

(a) It does not purport to convey the full title to the security, or

(b) It is of such a nature as to affect the manner in which the security was expressed by [the Government] to be held,

2[(v) Is made on or after the 1st day of September, 1972, in the case of a security issued on or after that day by the Government of the State of Jammu and Kashmir.]

(2) Nothing in this section shall affect any order made by the Bank under this Act, or any order made by a Court upon the Bank.

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1. Substituted for the opening paragraph of sub-section (1), by 3 A.L.O., 1956 (w.r.e.f. I -11 -1956).

2. Word ‘and’ at the end of Cl. (iii), omitted, and the word ‘and’ added at the end in clause (iv) and after that clause new clause (v) added by the Public Debt (Amendment) Act, 1972 (44 of 1972), S. 3 (w.r.e.f. 1-9-1972).

Section 4. Transferor of Government securities not liable for amount thereof

Not with standing anything contained in the Negotiable Instruments Act, 1881-, a person shall not, by reason only of his having transferred a Government security, be liable to pay any money due either as principal or as interest there under.

Section 5. Holding of Government securities by holders of public offices

(1) In the case of any public office to which 1[the Government] may by notification2in the official gazette, declare this sub-section to apply, a Government security in the form of stock or of a promissory note may be held in the name of the office.
(2) When a Government security is so held, it shall be deemed to be transferred without any or further endorsement or transfer deed from each holder of the office to the succeeding holder of the office on and from the date on which the latter takes charge of the office.

(3) When the holder of the office transfers to a party not being his successor in of Face a Government security so held, the transfer shall be made by the signature of the holder of the office and the name of the office in the manner and subject to the conditions laid down in section 3-.

(4) This section applies as well to an office of which there are two or more joint holders as to an office of which there is a single holder.

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1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Act. 1949 (6 of 1949), Section 6 (1-4-1949).

2. For such a notification, see G.S.R. 1222, dated 16-8-1965, Pt. II, S.3(i), page 1275. (This notification supersedes previous ones in his behalf. For such notifications issued by some of the State Governments, see Andh. Pra. Gaz., 1964,Pt.l,page312;Raj.Gaz” 1963Pt.lV(Ga),p. 123;FortSt.GeoGaz., 1962,Pt.ll,S. l,p.2448;U. P. Gaz. 9M964 Pt.l-A, p. 2458).

Section 6. Notice of trust not receivable

(1) No notice of any trust in respect of any Government security shall be receivable by 1[the Government], nor shall 1[the Government] be bound by any such notice even though expressly given, nor shall 1[the Government] be regarded as trustee in respect of any Government security.

(2) Without prejudice to the provisions of sub-section (1), the Bank may, as an act of grace and without any liability to the Bank or to 1[the Government], record in its books such directions by the holder of stock for the payment of interest on, or of the maturity value of, or the transfer of, or such other matters relating to, the stock as the Bank thinks fit.

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1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Acl, 1949 (6 of 1949), Section 6(1-4-1949).

Section 7. Persons whose title to a Government security of a deceased sole holder may be recognised by the Bank

Subject to the provisions of section 9-the executors or administrators of a deceased sole holder of a Government security and the holder of a succession certificate issued under Part X of the Indian Succession Act, 1925-, shall be the only persons who may be recognised by the Bank as having any title to the Government security:

Provided that nothing in this section shall bar the recognition by the Bank of the manager or the sole surviving male member of a Hindu undivided family governed by the Mitakshara Law as having a title to a Government security when the security appears to the Bank to stand in the name of a deceased member of the family and an application is made by such manager or sole surviving member for recognition of his title and is supported by a certificate signed by such authority and after such inquiry as maybe prescribed to the effect that the deceased belonged to a Hindu undivided family governed by the Mitakshara Law, that the Government security formed part of the joint property of the family, and that he applicant is the managing or sole surviving male member of the family. Explanation.- The expression “Hindu undivided family governed by the Mitakshara Law” shall, for the purposes of this section, be deemed to include a Malabar tar wad

Section 8. Right of survivors of joint holders or several payees

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 the bodies, 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 section 1[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 2[India], relating to the incorporation of the associations of individuals, shall be deemed to die when it is dissolved. In clause (b) “we have restored the wording employed in clause (b) of sub-section (1) of section 4 of the Act of 1920, which speaks of a security payable to two or more persons severally’ and provides merely for that security becoming payable to the survivor. The proviso which is intended to govern the whole clause has been clarified by the substitution of the words ‘in this section’ for he word ‘herein’ and has now been printed separately as an addendum to the clause as a whole instead of being included in sub-clause (b).”-S.C.R. Gaz. ofind. 1944, Part V, page 85.

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1. Substituted for the words “a body incorporated under the Indian Companies Act, 1913” by the Public Debt (Amendment) Act, 1956 (57 of 1956), Section 7(15-10-1956).

2. Substituted for the words “the provinces” by A.L.O., 1950 (26-1-1950).

Section 9. Summary procedure on death of holder of Government securities not exceeding five thousand rupees face value

Notwithstanding anything contained in section 7-, if within six months of the death of a person who was the holder of a Government security or securities the face value of which does not in the aggregate exceed five thousand rupees, probate of his will or letters of administration of his estate or a succession certificate issued under Part X of the Indian Succession Act, 1925-, is not produced to the Bank, or proof to the satisfaction of the Bank that proceedings have been instituted to obtain one of these is not furnished, the Bank may determine who is the person entitled to the security or securities, or to administer the estate of the deceased and may make an order vesting the security or securities in the person so determined.

Section 9 A. Application of Sections 9-B, 9-C, etc

1[Application of Sections 9-B, 9-C, etc. Notwithstanding anything contained in section 1-A-, the provisions of sections 9-B-and9-C-and the power to make rules in relation to any of the matters referred to in sections 9-B-and9-C-shall apply only to such classes of Government securities created and issued by the Central Government, whether before or after the commencement2 of the Public Debt (Amendment) Act, 1959, as that Government may, by notification3 in the Official Gazette, specify, and in relation to such classes of securities the provisions of sections 7 and 9 shall have effect subject to the provisions contained in sections 9-B-and9-C-]

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1. Sections 9-A, 9-B and 9-C were inserted by the Public Debt (Amendment) Act 1959 (44 of 1959), Section 2 (with effect from 1 -8-1960).

2. That is 1st August, 1960.

3. Provisions of Sections 9-B and 9-C have been applied to the securities created in the form of 10-Year Defence Deposit Certificates—See G.S.R. 1472, Gaz. of Ind., 1962, Pt. II, S. 3(i), p. 1786, and also to securities in the form of Defence Certificates—See G.S.R. 1734, Gaz. of Ind., 22-12-1962, Pt. II, S. 3(i), p. 2095.

Section 9 B. Nominations by holders of Government securities

1[Nominations by holders of Government securities. (1) Notwithstanding anything contained in any law for the time being in force or in any disposition whether testamentary or other wise ,in respect of a Government security, where a nomination made in the prescribed manner purports to confer on any person the right to receive payment of the amount for the time being due on the security on the death of the holder thereof the nominee shall, on the death of the holder of the security, become entitled to the security and to payment thereon to the exclusion of all other persons, unless the nomination is varied or cancelled in the prescribed manner,

(2) Any nomination referred to in sub-section (1) shall become void if the nominee predeceases, or where there are two or more nominees all the nominees predecease, the holder of the security making the nomination.

(3) A transfer of a Government security made in the prescribed manner shall automatically cancel a nomination previously made:

Provided that where a Government security is held by or on behalf of any person as a pledgeeorby way of security for any purpose such holding shall not have the effect of canceling a nomination, but the right of the nominee shall be subject to the right of the person so holding it.

(4) Where the nominee is a minor it shall be lawful for the holder of a security to appoint in the prescribed manner any person to receive the amount for the time being due on the security in the event of his death during the minority of the nominee, and, where any such appointment has been made, the Government security shall, after the death of the holder and during the minority of the nominee, be deemed to be vested in that person as representing the minor.]

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1. See F.N. (a) under S. 9A.

Section 9 C. Payment of death of holder

1[Payment of death of holder. (1) If a person dies and he is at the time of his death the holder of a Government security and there is in force at the time of his death a nomination in favour of any person, the amount for the time being due on the security shall be paid to the nominee.

(2) Where the nominee is a minor, the amount for the time being due on the Government security shall be paid-

(a) In any case where a person has been appointed to receive it under sub-section (4) of section 9-B-, to that person; and

(b) Where there is no such person, to the guardian of the minor for the use of the minor.

(3) Where the amount due for the time being on a Government security is payable to two or more nominees and either or any of them is dead, the title to the security shall vest in the survivor or survivors of those nominees and the amount for the time being due thereon shall be paid accordingly.

(4) Nothing contained in this section shall be deemed to require any person to accept payment of the amount due on a Government security before it has reached maturity or otherwise than in accordance with the terms of the security. (5) Any payment made in accordance with the provisions of this section of the amount due for the time being on a Government security shall be a full discharge in respect of the security:

Provided that nothing contained in this section or in section 9-B-shall affect any right or claim which any person may have against the person to whom any payment is made under this section.]

——————–

1. See F.N. (a) under S. 9A.

Section 10. Government securities not exceeding five thousand rupees face value belonging to mi- nor or insane person

When a Government security or securities belong to a minor or a person who is insane and incapable of managing his affairs and the value of the security or securities does not in the aggregate exceed five thousand rupees, the Bank may make such order as it thinks Fit for the vesting of such security or securities in such person as it considers represents the minor or insane person.

Section 11. Issue of duplicate securities and of new securities on conversion, consolidation, sub- division or renewal

(1) If the person entitled to a Government security applies to the Bank alleging that the security has been lost, stolen or destroyed, or has been defaced or mutilated, the Bank may, on proof to its satisfaction of the loss, theft, destruction, defacement or mutilation of the security, subject to such conditions and on payment of such fees as may by prescribed order the issue of a duplicate security payable to the applicant.

(2) If the person entitled to a Government security applies to the Bank to have the security converted into a security of another form, or into a security issued in connection with another loan or to have it consolidated with other like securities, or to have it sub-divided, or to have it renewed, the Bank may, subject to such conditions and on payment of such fees as may be prescribed, cancel the security and order the issue of a new security or securities.

(3) The person to whom a duplicate security or a new security is issued under this section shall be deemed for the purposes of section 19-to have been recognised by the Bank as the holder of the security; and a duplicate security or new security so issued to any person shall be deemed to constitute a new contract between 1[.the Government] and such person and all persons deriving title thereafter through him.

——————–

1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Act, 1949 (4 of 1949), S. 6 (1-4-1949).

Section 12. Summary determination by the Bank of title to Government security in case of dispute

(1) If the Bank is of opinion that a doubt exists as to the title to a Government security, it may proceed to determine the person who shall for the purposes of the Bank be deemed to be the person entitled thereto.

(2) The Bank shall give notice in writing to each claimant of whom it has knowledge, staling the name’s of all other claimants and the time when and the officer of the Bank by whom the determination of the Bank will be made.

(3) The Bank shall give notice in writing to each claimant of the result of the determination so made.

(4) On the expiry of six months from the issue of the notices referred to in sub-section (3), the Bank may make an order vesting in the person, found by the Bank to be entitled to the security, the security and any unpaid interest thereon

Section 13. Law applicable in regard to Government securities

Notwithstanding that as a matter of convenience 1[the Government] may have arranged for payments on a Government security to be made elsewhere than in 2[India], the rights of all persons in relation to Government securities shall be deter-mined in connection with any such questions as are dealt with by this Act by the Law and in the Courts of 3[India].

——————–

1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Act, 1949 (6 of 1949), section 6 (1 -4-1949).

2. Substituted for the words “Part A States and Part C States” by the Public Debt (Amendment) Act, 1956 (57 of 1956), section 8 (15-10-1956).

3. Substituted for the words “those States”, Substituted for the words “Part A States and Part C States” by the Public Debt (Amendment) Act, 1956 (57 of 1956), section 8 (15-10-1956).

Section 14. Recording of evidence

(1) For the purpose of making any order which it is empowered to make under this Act, the Bank may request a District Magistrate 1[* * *] to record or to have recorded the whole or any part of such evidence as any person whose evidence the Bank requires may produce. A District Magistrate so requested may himself record, or may direct any Magistrate of the first class subordinate to him or any Magistrate of the second class subordinate to him and empowered in this behalf by general or special order of the 2[State Government] to record the evidence, and shall forward a copy thereof to the Bank.

(2) For the purpose of making a vesting order under this Act the Bank may direct one of its officers to record the evidence of any person whose evidence the Bank requires or may receive evidence upon affidavit.

(3) A Magistrate or an officer of the Bank acting in pursuance of this section may administer an oath to any witness examined by him. “We have not considered it necessary to introduce a reference to an affirmation in sub-clause (3), since the word’ oath’ as defined in the General Clauses Act includes an affirmation.”-S.C.R., Gaz. of India, 1944, Pt. V, page 86.

——————–

1. The words “or in a Part B State the Political Agent” were omitted by the Public Debt (Amendment) Act, 1956 (57 of 1956), section 9 (15-10-1958).

2. Substituted for words “Provincial Government” by A.L.O., 1950.

Section 15. Postponement of payment and registration of transfers pending the making of a vesting order

Where the Bank contemplates making an order under this Act to vest a Government security in any person, the Bank may suspend payment of interest on or the maturity value of the security or post-pone the making of any order under section 11-or the registration of any transfer of the security until the vesting order has been made.

Section 16. Power to Bank to require bonds

(1) Before making any order which it is empowered to make under this Act, the Bank may require the person in whose favour the order is to be made to execute a bond with one or more sureties in such form as may be prescribed or to furnish security not exceeding twice the value of the subject-matter of the order, to be held at the disposal of the Bank, to pay to the Bank or any person to whom the Bank may assign the bond or security in furtherance of sub-section (2)the amount thereof.

(2) A Court before which a claim in respect of the subject-matter of any such order is established may order the bond or security to be assigned to the successful claimant who shall thereupon be entitled to enforce the bond or realise the security to the extent of such claim.

Section 17. Publication of notices in Official Gazette

Any notice required to be given by the Bank under this Act may be served by post, but every such notice shall also be published by the Bank in 1[the Gazette of India or the Official Gazette of the State, according as the notice relates to a security, issued by the Central Government or a State Government], and on such publication shall be deemed to have been delivered to all persons for whom it is intended.

——————–

1. Substituted for the words “the Official Gazette” by the Public Debt (Central Government) Amendment Act 1949 (6 of 1949), section 7 (1-4-1949).

Section 18. Scope of vesting order

An order made by the Bank under this Act may confer the full title to a Government security or may confer a title only to the accrued and accruing interest on the security pending a further order vesting the full title.

Section 19. Legal effect of orders made by the Bank

No recognition by the Bank of a person as the holder of a Government security, and no order made by the Bank under this Act shall be called in question by any Court so far as such recognition or order affects the relation of 1[the Government] or the Bank with the person recognised by the Bank as the holder of a Government security or with any person claiming an interest in such security and any such recognition by the Bank of any person or any order by the Bank vesting a Government security in any person shall operate to confer on that person a title to the security subject only to a personal liability to the rightful owner of the security for money had and received on his account.

——————–

1. Substituted for the words “Central Government” by the Public Debt (Central Government) Amendment Act 1949 (6 of 1949), section 7 (1-4-1949).

Section 20. Stay of proceedings on order of Court

Where the Bank contemplates making with reference to any Government security any order which it is empowered to make under this Act, and before the order is made the Bank receives from a Court in 1[India] an order to stay the making of such order, the Bank shall either-

(a) hold the security together with any interest unpaid or accruing thereon until the further orders of the Court are received, or

(b) apply to the Court to have the security transferred to the official Trustees appointed for the 2[State] in which such Court is situated, pending the disposal of the proceedings before the Court.

——————–

1. Substituted for the words “a Part A State or a Part C State” by the Public Debt (Amendment) Act, 1956 (57 of 1956), section 10(15-10-1956),

2. Substituted for the word “Province” by A.L.O.. 1950.

Section 21. Cancellation by the Bank of vesting proceedings

Where the Bank contemplates making an order under this Act vesting a Government security in any person, the Bank may, at any time before the order is-made, cancel any proceedings already taken for that purpose and may, on such cancellation. proceed anew to the making of such order.

Section 22. Discharge in respect of interest on Government securities

Save as otherwise expressly provided in the terms of a Government security, no person shall be entitled to claim interest on such security in respect of any period which has elapsed after the earliest date on which demand could have been made for the payment of the amount due in such security.

Section 23. Discharge in respect of bearer bonds

1[The Government] shall be discharged from all liability on a bearer bond or on any interest coupon of such a bond on payment to the holder of such bond or coupon on presentation on or after the date when it becomes due of the amount expressed therein, unless before such payment an order of a Court in2[India] has been served on the Government re-straining it from making payment.

——————–

1. Substituted for the words “the Central Government” by the Public Debt (Central Government) Amendment Act, 1949 (6 of 1949), section 6 ( 1 -4-1949).

2. Substituted for the words “the States” by the Public Debt (Amendment) Act, 1956 (57 of 1956), section 11 (15- 10-1956).

Section 24. Period of limitation of Central Government’s liability in respect of interest

Where no shorter period of limitation is fixed by any law for the time being in force, the liability of 1[the Government] in respect of any interest payment due on a Government security shall terminate on the expiry of six years from the date on which the amount due by way of interest became payable.

——————–

1. Substituted for the words “Central Government” by the Public Debt (Central Government) Amendment Act 1949 (6 of 1949), section 7 (1-4-1949).

Section 25. Inspection of documents

No person shall be entitled to inspect, or to receive information derived from any Government security in the possession or custody of 1[the Government] or from any book, register, or other document kept or maintained by or on behalf of 1[the Government] in relation to Government securities or any Government security save in such circumstances and manner and subject to such conditions as may be prescribed.

——————–

1. Substituted for the words “Central Government” by the Public Debt (Central Government) Amendment Act 1949 (6 of 1949), section 7 (1-4-1949).

Section 26. The bank and its officers to be deemed public officers

For the purposes of section 124 of the Indian Evidence Act, 1872-, the provisions of Part IV of the Code of Civil Procedure, 1908-, relating to suits by or against public officers in their official capacity, and the provisions of Rule 27of 0.V, and Rule 52of Order XXI of the said Code, the Bank and any officer of the Bank acting in his capacity as such shall be deemed to be a public officer.

Section 27. Penalty

(1) If any person, for the purpose of obtaining for himself or for any other person any title to a Government security, makes to any authority under this Act in any application made under this Act or in the course of any inquiry undertaken in pursuance of this Act any statement which is false and which he either knows to be false or does not believe to be true, he shall be punishable with imprisonment for a term which may extend to six months, or with fine or with both.

(2) No Court shall take cognizance of any offence under sub-section (1) except on the complaint of the bank.

Section 28. Power to make rules

(1) The Central Government may, subject to the condition of previous publication, by notification in the-Official Gazette, make rules1 to carry out the purposes of this Act.

(2) In particular and without prejudice to the generality of the foregoing power such rules may provide for all or any of the following matters, namely:-

(a) the forms in which Government securities may be issued;

(b) the form of the obligation referred to in clause (iv) of sub-clause (a) of clause (2) of section 2-;

(c) the conditions subject to which Government securities may be issued to the 2[Rulers of former Indian States];

(d) the manner in which different forms of Government securities may be transferred;

(e) the holding of Government securities in the form of stock by the holders of offices other than public offices, and the manner in which and the conditions subject to which Government securities so held may be transferred;

(f) the manner in which payment of interest in respect of Government securities is to be made and acknowledged;

(g) the conditions governing the grant of duplicate, renewed, converted, consolidated and sub- divided Government securities;

(h) the fees to be paid in respect of the issue of duplicate Government securities and of the renewal, conversion, consolidation and sub-division of Government securities;

(i) the form in which receipt of a Government security delivered for discharge, renewal, conversion, consolidation or sub-division is to be acknowledged;

(j) the manner of attestation of documents relating to Government securities in the form of stock;

(k) the manner in which any document relating to a Government security or any endorsement on a promissory mote issued by 3[the Government] may, on the demand of a person who from any cause is unable to write, be executed on his behalf.

(l) the form of the bonds referred to in sub-section (1) of section 16 -;

(m) the circumstances and the manner in which and the conditions subject to which inspection of Government securities, books, registers and other documents may be allowed or information there from may be given under section 25-;

(n) the procedure to be followed in making vesting orders;

(o) the authority by whom the certificate referred to in the proviso to section 7-is to be granted and the manner of making the inquiry therein mentioned;

4[(p) the form in which and the persons in whose favour nominations may be made under section 9-B-, the manner in which and the conditions and restrictions subject to which such nominations may be made, the registration, variation or cancellation of such nominations and the fees that may be levied for such registration, variation or cancellation;

(q) the manner in which any person may be appointed for the purposes of sub-section (4) of section 9-B-.]

5[(3) Every rule made under this section shall be laid, as soon as may be after it is made, be fore each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule. ]

——————–

1 For the Public Debt (Central Government) Rules, 1946, see Gazette of India, 1946, Pt. I, p. 575.

For the Public Debt (Compensation Bonds) Rules, 1954, see S.R.O. 2754, dated 18-8-1954 published in Gazel India, 1954, Pt. II, section 3, p. 2060.

For the Public Debt (Annuity Certificates) Rules, 1954, see S.R.O. 2480, dated 25-8-1954 published in ibi 2148.

For Public Debt (Annuity Deposit Certificates) Rules, 1966, see Gaz. of Ind., 8-10-1966, Pt. II, section 3( 1729.

2. Substituted for the words ‘Rulers of Part B. Sl.lles’ by the Public Debt (Amendment) Act, 1956 (57 of 1956). section 12(15-10-1956).

3. Substituted for the words ‘the Central Government’ by the Public Debt (Central) Government Amendment Act, 1949 (6 of 1949), section 6(1-4-1949).

4. Inserted by the Public Debt (Amendment) Act, 1959 (44 of 1959), section 3 (w.e.f. 1-8-1960).

5. Substituted for for former sub-section (3) by the Public Debt (Amendment) Act, 1972 (44 of 1972), section 4 (w.r.e.f. 1-9-1972).

Section 29. Certain Laws not to apply to Government Securities

1[Certain Laws not to apply to Government Securities. The Indian Securities Act, 1920and any law corresponding to that law in force in any Part B State immediately before the commencement2 of the Public Debt (Amendment) Act, 1956, shall cease to apply to Government securities to which this Act applies and to all matters for which provision is made by this Act.

Provided that any such corresponding law shall continue to apply to or in relation to any securities created and issued by the Government of Hyderabad, Saurashtra or Travancore-Cochin on or before the31st day of March, 1953, for such period not exceeding one year from the commencement” of the Public Debt (Amendment) Act, 1956, as the Central Government may, by notification in the Official Gazette, specify

——————–

1. Substituted for the original section, by the Public Debt (amendment) Act, 1956 (57 of 1956) section 13 (15-10-1956)

2. That is, 15th October, 1956.

Section 30. Construction of reference to laws not in force before 1st April in Part B, States

1[Construction of reference to laws not in force before 1st April in Part B, States. Any reference in this Act to any law which did not extend to any Part B State or any part of such State before the commencement of the Part B States (Laws) Act, 1951, shall wherever necessary, be construed as including a reference to the corresponding law, if any, in force in that State, or, as the case may be, any part thereof, before the said date.]

——————–

1. Inserted by the Public Debt (Amendment) Act, 1956 (57 of 1956) section 14 (15-10-1956)

Section 31. Construction of references to laws not in force in Jammu and Kashmir

1[Construction of references to laws not in force in Jammu and Kashmir. Any reference in this Act to a law which is not in force in the State of Jammu and Kashmir shall, wherever necessary, be construed as including a reference to the corresponding law, if any, in force in that State.

——————–

1. Inserted by the Public Debt (Amendment) Act, 1972 (44 of 1972) section 5 (w.r.e.f. 1-9-1972).

Bydeb

The Public Financial Institutions (Obligation as To Fidelity and Secrecy) Act, 1983

NO. 48 OF 1983

[30th December, 1983]

An Act to provide for the obligation of public financial institutions as to fidelity and secrecy.

BE it enacted by Parliament in the Thirty-fourth Year of the Republic of India as follows:-

1. Short title.

This Act may be called the Public Financial Institutions (Obligation as to Fidelity and Secrecy) Act, 1983.

2. Definitions.

(1) In this Act, “public financial institution” means-

(a) The industrial Credit and Investment Corporation of India Limited, a company formed and registered under the Indian Companies Act, 1913(7 of 1913);

(b) The industrial Reconstruction Corporation of India Limited, a company formed and registered under the Companies Act, 1956(1 of 1956); or

(c) Any other institution, being a company as defined in section 617 of the Companies Act, 1956(1 of 1956) or a company to which the provisions of section 619 of that Act apply, which the Central Government may, having regard to the nature of the business carried on by such institution, by notification in the Official Gazette, specify to be a public financial institution for the purposes of this Act.

(2) Every notification issued under clause (c) of sub-section (1) shall, as soon as may be, after it is issued, be laid before each House of Parliament.

3. Obligation as to fidelity and secrecy.

(1) A public financial institution shall not, except as otherwise provided in sub-section (2) or in any other law for the time being in force, divulge any information relating to, or to the affairs of, its constituents except in circumstances in which it is, in accordance with the law or practice and usage, customary among bankers, necessary or appropriate for the public financial institution to divulge such information.

(2) A public financial institution may, for the purpose of efficient discharge of its functions, collect from, or furnish to,-

(a) The Central Government; or

(b) The State Bank of India constituted under section 3 of the State Bank of India Act, 1955(23 of 1955), any subsidiary bank within the meaning of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), any corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970( 5 of 1970) or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980, any other scheduled bank within the meaning of the Reserve Bank of India Act, 1934(2 of 1934); or

(c) Any other public financial institution, such credit information or other information as it may consider useful for the purpose, in such manner and at such time as it may think fit.

Explanation. For the purposes of this sub-section, the expression “credit information” shall have the same meaning as in clause (c) of section 45A of the Reserve Bank of India Act, 1934(2 of 1934) subject to the modification that the banking company referred to therein shall mean a bank referred to in clause (b) of this sub-section or a public financial institution.

4. Declaration of fidelity and secrecy.

Every director, member of any committee, auditor or officer or any other employee of a public financial institution to which this Act applies, shall,-

(a) Before entering upon his duties; or

(b) Where he has entered upon his duties as such before the date on which this Act became applicable to such institution, within thirty days from the date on which this Act became applicable to such institution, make a declaration of fidelity and secrecy in the form set out in the Schedule to this Act.

5. Amendment of Act 15 of 1948.

In the Industrial Finance Corporation Act, 1948,-

(a) Section 39 shall be re-numbered as sub-section (3) thereof and before sub-section (3) as so re-numbered, the following sections shall be inserted, namely:-

‘(1) The Corporation shall not, except as otherwise required by this Act or any other law for the time being in force, divulge any information relating to, or to the affairs of, its constituents except in circumstances in which it is, in accordance with the law or practice and usage, customary among bankers, necessary or appropriate for the Corporation to divulge such information.

(2) The Corporation may, for the purpose of efficient discharge of its functions under this Act, collect from, or furnish to-

(a) The Central Government;

(b) The State Bank of India constituted under section 3 of the State Bank of India Act, 1955(23 of 1955), any subsidiary bank within the meaning of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), any corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970( 5 of 1970) or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980(40 of 1980), any other scheduled bank, any State co-operative bank or the Development Bank, such credit information or other information as it may consider useful for the purpose, in such manner and at such time as it may think fit.

Explanation. For the purposes of this sub-section, the expression “credit information” shall have the same meaning as in clause (c) of section 45A of the Reserve Bank of India Act, 1934(2 of 1934) subject to the modification that the banking company referred to therein shall mean a bank referred to in clause (b) of this sub-section’;

(b) In the Schedule, for the brackets, words and figures “(See section 39)”, the brackets, words and figures “[See section 39 (3)]” shall be substituted.

6. Amendment of Act 63 of 1951.

In the State Financial Corporations Act, 1951,-

(a) Section 40 shall be re-numbered as sub-section (3) thereof, and before sub-section (3) as so re-numbered, the following sub-sections shall be inserted, namely:-

‘(1) The Financial Corporation shall not, except as otherwise required by this Act or any other law for the time being in force, divulge any information relating to, or to the affairs of, its constituents except in circumstances in which it is, in accordance with the law or practice and usage, customary among bankers, necessary or appropriate for the Financial Corporation to divulge such information.

(2) The Financial Corporation may, for the purpose of efficient discharge of its functions under this Act, collect from, or furnish to-

(a) The Central Government;

(b) The State Bank of India constituted under section 3 of the State Bank of India Act, 1955(23 of 1955), any subsidiary bank within the meaning of the State Bank of India (Subsidiary Banks) Act, 1959(38 of 1959), any corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970(5 of 1970), or under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980(40 of 1980), any other scheduled bank, any State co-operative bank or the Development Bank, such credit information or other information as it may consider useful for the purpose, in such manner and at such time as it may think fit.

Explanation. For the purposes of this sub-section, the expression “credit information” shall have the same meaning as in clause (c) of section 45A of the Reserve Bank of India Act, 1934(2 of 1934) subject to the modification that the banking company referred to therein shall mean a bank referred to in clause (b) of this sub-section;

(b) In the Schedule, for the brackets, words and figures “(See section (40)”, the brackets, words and figures “[See section 40 (3)] shall be substituted.

7. SCHEDULE

THE SCHEDULE

(See section 4)

DECLARATION OF FIDELITY AND SECRECY

I, do hereby declare that I will faithfully, truly and to the best of my skill and ability, execute and perform the duties required of me as director, member of any Committee, auditor, officer or other employee (as the case may be) of the * and which properly relate to the office or position held by me in, or in relation to, the*

I further declare that I will not communicate or allow to be communicated to any person not legally entitled thereto any information relating to the affairs of the * or to the affairs of any person having any dealing with the *nor will I allow any such person to inspect, or have access to, any books or documents belonging to, or in the possession of, the *and relating to the business of the *or the business of any person having any dealing with the*

Signed before me.

Signature.

* Here insert the name of the public financial institution concerned.

Bydeb

The Public Liability Insurance Act, 1991

Preamble

[Act No. 6 of 1991]

[22nd January 1991]

An Act to provide for public liability insurance for the purpose of providing immediate relief to persons affected by accident occurring while handling any hazardous substance and for matters connected therewith or incidental thereto.

Be it enacted by Parliament in the Forty-first Year of the Republic of India as follows: –

Section 1. Short title and commencement

(1) This Act may be called the Public Liability Insurance Act, 1991.

(2) It shall come into force on such date as the Central Government may by notification, appoint.

Section 2. Definitions

In this Act, unless the context otherwise requires,-

1[(a) “Accident” means an accident involving a fortuitous or sudden or unintended occurrence while handling any hazardous substance resulting in Continuous or intermittent or repeated exposure to death of, or injury to, any person or damaged to any property but does not include an accident by reason only of war or radio-activity;]

(b) “Collector” means the Collector having jurisdiction over the area in which the accident occurs;

(c) “Handling”, in relation to any hazardous substance, means the manufacture, processing, treatment, package, storage, transportation by vehicle, use collection, destruction, conversion, offering for sale, transfer or the like of such hazardous substance;

(d) “Hazardous substance” means any substance or preparation which is defined as hazardous substance under the Environment (Protection) Act, 1986 (29 of 1986), and exceeding such quantity as may be specified, by notification, by the Central Government;

(e) “Insurance” means insurance against liability under sub-section (1) of Section 3;

(f) “Notification” means a notification published in the Official Gazette;

2(g) “Owner means a person who owns, or has control over handling, any hazardous substance at the time of accident and includes. –

(i) In the case of a firm, any of its partners; (ii) In the case of an association, any of its members; and

(iii) In the case of a company, any of its directors, managers, secretaries or other officers who is directly in charge of, and is responsible to, the company for the conduct of the business of the company;]

(h) “Prescribed” means prescribed by rules made under this Act; 3[(ha) “Relief Fund” means the Environmental Relief Fund established under Section 7A;]

(i) “Rules” means rules made under this Act;

(j) “Vehicle” means any mode of surface transport other than railways.

——————–

1. Subs. by Act No.11 of 1992.

2. Subs. by Act No. 11 of 1992.

3. Ins. by Act No. 11 of 1992.

Section 3. Liability to give relief in certain cases on principle of no fault

(1) Where death or injury to any person (other than a workman) or damage to any property has resulted from an accident, the owner shall be liable to give such relief as is specified in the Schedule for such death, injury or damage.

(2) In any claim for relief under sub-section (1) (hereinafter referred in to this Act as claim for relief), the claimant shall not be required to plead and establish that the death, injury or damage in respect of which the claim has been made was due to any wrongful act, neglect or default of any person. Explanation. -For the purpose of this section, –

(i) “Workman” has the meaning assigned to it in the Workmen’s Compensation Act, 1923 (8 of 1923);

(ii) “Injury” includes permanent total or permanent partial disability or sickness resulting out of an accident.

Section 4. Duty of owner to take out insurance policies

(1) Every owner shall take out, before he starts handling any hazardous substance, one or more insurance policies providing for contracts of insurance whereby he is insured against liability to give relief under sub-section (1) of Section 3: Provided that any owner handling any hazardous substance immediately before the commencement of this Act shall take out such insurance policy or policies as soon as may be and in any case within a period of one year from such commencement. (2) Every owner shall get the insurance policy, referred to in subsection (1), renewed from time to time before the expiry of the period of validity thereof so that the insurance policies may remain in force throughout the period during which such handling is continued.

1(2A) No insurance policy taken out or renewed by an owner shall be for an amount less than the amount of the paid-up capital of the undertaking handling any hazardous substance and owned or controlled by that owner, and more than the amount, not exceeding fifty crore rupees, as may be prescribed. Explanation-For the purposes of this sub-section, “paid-up capital” means, in the case of an owner not being a company, the market value of all assets and stocks of the undertaking on the date of contract of insurance.

(2B) The liability of the insurer under one insurance policy shall not exceed the amount specified in the terms of the contract of insurance in that insurance policy.

(2C) Every owner shall also, together with the amount of premium, pay to the insurer, for being credited to the Relief Fund established under Section 7A, such further amount, not exceeding the sum equivalent to the amount of premium, as may be prescribed. (2D) The insurer shall remit to the authority specified in sub-section (3) of Section 7A the amount received from the owner under subsection (2C) for being credited to the Relief Fund in such manner and within such period as may be prescribed and where the insurer fails to so remit that amount, it shall be recoverable from the insurer as arrears of land revenue or of public demand.]

(3) The Central Government may, by notification, exempt from the operation of sub-section (1) any owner, namely:-

(a) The Central Government; (b) Any State Government; (c) Any corporation owned or controlled by the Central Government or a State Government; or (d) Any local authority:

Provided that no such order shall be made in relation to such owner unless a fund has been established and is maintained by that owner in accordance with the rules made in this behalf for meeting any liability under sub-section (1) of Section 3.

——————–

1. Ins. by Act No. 11 of 1992.

Section 5. Verification and publication of accident by Collector

Whenever it comes to the notice of the Collector that an accident has occurred at any place within his jurisdiction, he shall verify the occurrence of such accident and cause publicity to be given in such manner as he deems fit for inviting applications under sub-section (1) of Section 6.

Section 6. Application for claim for relief

(1) An application for claim for relief may be made.-

(a) By the person who has sustained the injury;

(b) By the owner of the property to which the damage has been caused;

(c) Where death has resulted from the accident, by all or any of the legal representatives of the deceased; or

(d) By any agent duly authorised by such person or owner of such property or all or any of the legal representatives of the deceased, as the case may be:

Provided that where all the legal representatives of the deceased have not joined in any such application for relief, the application shall be made on behalf of or for the benefit of all the legal representatives of the deceased and the legal representatives who have not so joined shall be impleaded as respondents to the application.

(2) Every application under sub-section (1) shall be made to the Collector and shall be in such form, contain such particulars and shall be accompanied by such documents as may be prescribed

(3) No application for relief shall be entertained unless it is made within five years of the occurrence of the accident.

Section 7. Award of relief

(1) On receipt of an ‘application under sub-section (1) of Section 6, the Collector shall, after giving notice of the application to the owner and after giving the parties an opportunity of being heard, hold an inquiry into the claim or, each of the claims, and may make an award determining the amount of relief which appears to him to be just and specifying the person or persons to whom such amount of relief shall be paid.

(2) The Collector shall arrange to deliver copies of the award to the parties concerned expeditiously and in any case within a period of fifteen days from the date of the award.

(3) When an award is made under this section.-

(a) The insurer, who is required to pay any amount in terms of such award and to the extent specified in sub-section (2B) of Section 4, shall, within a period of thirty days of the date of announcement of the award, deposit that amount in such manner as the Collector may direct; (b) The Collector shall arrange to pay front the Relief Fund, in terms of such award and in accordance with the scheme under Section 7A, to the person or persons referred to in subsection (1) such amount as may be specified in that scheme;

(c) The owner shall, within such period, deposit such amount in such manner as the Collector may direct.]

(4) In holding any inquiry under sub-section (1), the Collector may, subject to any rules made in this behalf, follow such summary procedure as he thinks fit.

(5) The Collector shall have all the powers of a Civil Court for the purpose of taking evidence on oath and of enforcing the attendance of witnesses and of compelling the discovery and production of documents and material objects and for such other purposes as may be prescribed; and the Collector shall be deemed to be a Civil Court for all the purposes of Section 195 and Chapter XXVI of the Code of Criminal Procedure, 1973 (2 of 1974).

(6) Where the insurer or the owner against whom the award is made under sub-section (1) fails to deposit the amount of such award within the period specified under subsection (3), such amount shall be recoverable form the owner, or as the case may be, the insurer as arrears of land revenue or of public demand.

(7) A claim for relief in respect of death of, or injury to, any person or damage to any property shall be disposed of as expeditiously as possible and every endeavor shall be made to dispose of such claim within three months of the receipt of the application for relief under sub-section (1) of Section 6.

2[(8) Where an owner is likely to remove or dispose of his property with the object of evading payment by him of any amount of the award, the Collector may, in accordance with the provisions of rules I to 4 of Order XXXIX of the First Schedule to the Code of Civil Procedure, 1908 (5 of 19O8), grant a temporary injunction to restrain such act.]

——————–

1. Subs. By Act No. 11 of 1992.

2. Ins. by Act No. 11 of 1992.

Section 7 A. Establishment of Environmental Relief Fund

1[Establishment of Environmental Relief Fund. (1) The Central Govern- ment may, by notification, establish a fund to be known as the Environmental Relief Fund.

(2) The Relief Fund shall be utilised for paying, in accordance with the provisions of this Act and the scheme made under sub-section (3), relief under the award made by the Collector under Section 7 (3) The Central Government may, by notification, make a scheme specifying the authority in which the Relief Fund shall vest, the manner in which the Relief Fund shall be administered, the form and the manner in which money shall be drawn from the Relief Fund and for all other matters connected with or incidental to the administration of the Relief Fund and the payment of relief therefrom.]

——————–

1. Ins. by Act No. 11 of 1992.

Section 8. Provisions as to other right to claim compensation for death, etc

(1) The right to claim relief under sub-section (1) of Section 3 in respect of death of, or injury to, any person or damage to any property shall be in additional to any other right to claim compensation in respect thereof under any other law for the time being in force.

(2) Notwithstanding anything contained in subsection (1), where in respect of death of, or injury to, any person or damage to any property, the owner, liable to give claim for relief, is also liable to pay compensation under any other law, the amount of such compensation shall be reduced by the amount of relief paid under this Act.

Section 9. Power to call for information

Any person authorised by the Central Government may, for the purposes of ascertaining whether any requirements of this Act or of any rule or of any direction given under this Act have been complied with, require any owner to submit to that person such information as that person may reasonably think necessary.

Section 10. Power of entry and inspection

Any person, authorised by the Central Government in this behalf, shall have a right to enter, at all reasonable times with such assistance as he considers necessary, any place, premises or vehicle, where hazardous substance is handled for the purpose of determining whether any provisions of this Act or of any rule or of any direction given under this Act is being or has been complied with and such owner is bound to tender all assistance to such person.

Section 11. Power of search and seizure

(1) If a person, authorised by the Central Government in this behalf, has reason to believe that handling of any hazardous substance is taking peace in any place, premises or vehicle, in contravention of sub-section (1) of Section 4, he may enter into and search such place, premises or vehicle of such handling of hazardous substance.

(2) Where, as a result of any search under sub-section (1) any handling of hazardous substance has been found in relation to which contravention of sub-section (I) of Section 4 has taken place, he may seize such hazardous substance and other things, which, in his opinion, will be useful for, or relevant to, any proceeding under this Act:

Provided that where it is not practicable to seize any such substance or thing, he may serve on the owner an order that the owner shall not remove, part with or otherwise deal with, the hazardous substance mid such other things except with the previous permission of that person.

(3) He may, if he has reason to believe that it is expedient to do to prevent an accident dispose of the hazardous substance seized under sub-section (2) immediately in such manner as he may deem fit.

(4) All expenses incurred by him in the disposal of hazardous substances under sub-section (3) shall be recoverable form the owner as arrears of land revenue or of public demand.

Section 12. Power to give direction

Notwithstanding anything contained in any other law but subject to the provisions of this Act, the Central Government may in exercise of its powers and performance of its functions under this Act, issue such directions in writing as it may deem fit for the purposes of this Act to any owner or ally person, officer, authority or agency and such owner, person, officer, authority or agency shall be bound to comply with such directions.

Explanation. – For the removal of doubts, it is hereby declared that the power to issue directions under this section includes the power to direct-

(a) Prohibition or regulation of the handling of any hazardous substance; or

(b) Stoppage or regulation of the supply of electricity, water or any other service.

Section 13. Power to make application to Courts for restraining owner from handling hazardous substances

(1) If the Central Government or any person authorised by that Government in this behalf has reason to believe that any owner has been handling any hazardous substance in contravention of any of the provisions of this Act, that Government or, as the case may be, that person may make an application to a Court not inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of first class for restraining such owner from such handling.

(2) On receipt of the application under sub-section (1), the Court may make such order as it deems fit.

(3) Where under sub-section (2), the Court makes an order restraining any owner from handling hazardous substance, it may, in that order. –

(a) Direct such owner to desist from such handling;

(b) Authorise the Central Government or, as the case may be, the person referred to in sub-section (1), if the direction under clause (a) is not complied with by the owner to whom such direction is issued, to implement the direction in such manner as may be specified by the Court.

(4) All expenses incurred by the Central Government, or as the case may be, the person in implementing the directions of Court under clause (b) of subsection (3), shall be recoverable form the owner as arrears of land revenue or of public demand.

Section 14. Penalty for contravention of sub-section (1) or sub-section (2) of Section 4 or failure to comply with directions under Section 12

(1) Whoever contravenes any of the provisions of 1[sub-section (1) or subsection (2) or subsection (2A) or sub-section (2C)] of Section 4 or fails to comply with any direction issued under Section12, he shall be punishable with imprisonment for a term which shall not be less than one year and six months but which may extend to six years, or with fine which shall not be less than one lakh rupees, or with both.

(2) Whoever, having already been convicted or ail offence under subsection (1), is convicted for the second offence or any offence subsequent to the second offence, he shall be punishable with imprisonment for a term which shall not be less than two years but which may extend to seven years and with fine which shall not be less than one lakh rupees.

(3) Nothing contained in Section 360 of the Code of Criminal Procedure, 1973 (2 of 1974), or in the Probation of Offenders Act, 1958 (20 of 1958), shall apply to a person convicted of an offence under this Act unless such person is under eighteen years of age.

——————–

1. Subs. by Act No. 11of 1992 for “sub-section (1) or (2).

Section 15. Penalty for failure to comply with direction under Section 9 or order under Section 11 or obstructing any person in discharge of his functions under Section 10 or 11

If any owner fails to comply with direction issued under Section 9 or fails to comply with order issued under sub-section (2) of Section11, or obstructs any person in discharge of his functions under Section 10 or sub-section (1) or subsection (3) of Section11, he shall be punishable with imprisonment which may extend to three months, or with fine which may extend to ten thousand rupees, or with both.

Section 16. Offences by companies

(1) Where any offence under this Act has been committed by a company, every person who, at the time the offence was committed, was directly in charge of, and was responsible to; the company for the conduct of’ the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:

Provided that nothing contained in this subsection shall render any such person liable to any punishment provided in this Act, if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.

(2) Notwithstanding anything contained in subsection (1), where an offence under this Act has been committed by a company and it is proved that the offence has been committed with the Consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.

Explanation.-For the purposes of this section,-

(a) “Company” means any body corporate and includes a firm or other association of individuals;

(b) “Director”, in relation ‘to a firm, means a partner in the firm.

Section 17. Offences by Government Departments

Where an offence under this Act has been committed by any Department of Government, the Head of the Department shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:

Provided that nothing contained in this section shall render such Head of the Department liable to any punishment if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.

Section 18. Cognizance of offences

No court shall take cognizance of any offence under this Act except on a complaint made by-

(a) The Central Government or any authority or officer authorised in this behalf by that Government; or

(b) Any person who has given notice of not less than sixty days in the manner prescribed, of the alleged offence and of his intention to make a complaint, to the Central Government or the authority or officer authorised as aforesaid.

Section 19. Power to delegate

The Central Government may, by notification, delegate, subject to such conditions and limitations as may he specified in the notification, such of its powers and functions under this Act (except the power under Section 23) as it may deem necessary or expedient to any person (including any officer, authority or other agency.)

Section 20. Protection of action taken in good faith

No suit, prosecution or other legal proceeding shall lie against the Government or the person, officer, authority or other agency in respect of anything which is done or intended to be done in good faith in pursuance of this Act or the rules made or orders or directions issued thereunder.

Section 21. Advisory Committee

(1) The Central Government may, from time to time, constitute an Advisory Committee on the matters relating to the insurance policy under this Act.

(2) The Advisory Committee shall consist of-

(a) Three officers representing the Central Government;

(b) Two persons representing the insurers;

(c) Two persons representing the owners; and

(d) Two persons from amongst the experts of insurance or hazardous substances to be appointed by the Central Government.

Section 22. Effect of other laws

The provisions of this Act and any rules made thereunder shall have effect notwithstanding anything inconsistent therewith contained in any other law.

Section 23. Power to make rules

(1) The Central Government may, by notification, make rules for carrying out the purposes of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters namely:-

1[(a) The maximum amount for which an insurance policy may be taken out by an owner under sub-section (2A) of Section 4;

(aa) The amount required to be paid by every owner for being credited, to the Relief Fund under sub-section (2C) of Section 4;

(ab) The manner in which and the period within which the amount received from the owner is required to be remitted by the insurer under sub-section (2D) of Section 4;]

2[(ac) Establishment and maintenance of fund under sub-section (3) of Section 4;]

(b) The form of application and the particulars to be given therein and the documents to accompany such application under sub-section (2) of Section 6;

(c) The procedure for holding an inquiry under subsection (4) of Section 7;

(d) The purposes for which the Collector shall have powers of a Civil Court under sub-section (5) of Section 7;

(e) The manner in which notice of the offence and of the intention to make a complaint to the Central Government shall be given under clause (b) of Section 18;

(f) Any other matter which is required to be, or may be, prescribed.

(3) Every 3[rule or scheme] made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the 3 [rule or scheme] or both Houses agree that the 3[rule or scheme] should not be made, the 3[rule or scheme] shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any Such modification or annulment shall be without prejudice to the validity of anything previously done that rule.

———————

1. Ins. by Act No. 11of 1992.

2. Original Cl. (a) re-lettered as clause (ac) by Act No. 11of 1992.

3. Subs. by Act No. 11of 1992, for “rule”.

Schedule

THE SCHEDULE

[See Section 3 (1)]

(i) Reimbursement of medical expenses incurred up to a maximum of Rs. 12,500 in each case.

(ii) For fatal accidents the relief will be Rs. 25,000 per person in addition to reimbursement of medical expenses, if any, incurred on the victim up to a maximum of Rs.12,5000.

(iii) For permanent total or permanent partial disability or other injury or sickness, the relief will be (a) reimbursement of medical expenses incurred, if any, up to a maximum of Rs. 12,500 in each case and (b) cash relief on the basis of percentage of disablement as certified by an authorised physician. The relief for total permanent disability will be Rs.25,000.

(iv) For loss of wages due to temporary partial disability which reduces the earning capacity of the victim, there will be a fixed monthly relief not exceeding Rs.1,000 per month up to a maximum of 3 months: provided the victim has been hospitalized for a period exceeding 3 days and is above 16 years of age.

(v) Up to Rs. 6,000 depending on the actual damage, for any damage to private property.

Bydeb

The Public Provident Fund Act, 1968

Preamble

(23 of 1968)

An act to make provisions for institution of a Provident Fund for the general public

Section 1. Short title and extent

(a) This act may be called the Public Provident Fund Act, 1968.

(b) It extends to the whole of India.

Section 2. Definitions

In this Act unless the context otherwise requires;

(a) “Fund” means the Public Provident Fund established under the Scheme;

(b) “Minor” means a person who is not deemed to have attained majority under the Indian Majority Act, 1875;

(c) “Scheme” means the Public Provident Fund Scheme framed under sub-section (1) of section 3;

(d) “Subscriber” means an individual who makes subscription to the Fund under section 4 and where such subscription is made by an individual on behalf of a minor, of whom he is the guardian, such minor;

(e) “Year” means the financial year.

Section 3. Public Fund Provident Fund Scheme

(1) The Central Government may, by notification in the Official Gazette, frame a scheme to be called the Public Provident Fund Scheme for the establishment of a provident fund for the general public and there shall be established as soon as may be after the framing of the Scheme, a Fund in accordance with the provisions of this Act and the Scheme.

(2) Subject to the provisions of this Act, the Scheme may provide for all or any, of the matters specified in the Schedule.

(3) The Scheme shall have effect notwithstanding any thing contained in any Law for the time being in force other than this Act or in any instrument having effect by virtue of any, law other than this Act.

(4) The Central Government may, from time to time by notification in the Official Gazette, add to, amend or vary the Scheme.

Section 4. Subscriptions to Fund

Any individual may, on his own behalf or on behalf of a minor of whom he is the guardian,. Subscribe to the Fund in such manner and subject to such maximum and minimum ‘limits as may be specified in the Scheme.

Section 5. Interest

All subscriptions made under section 4 shall bear interest at such rate as may, be notified by the Central Government in the Official Gazette, from time to time, and the interest shall be calculated in such manner as may be specified in the Scheme.

Section 6. Withdrawals

(1) A subscriber shall be entitled to make withdrawals from the Amount standing to his credit in the Fund (including any interest accrued thereon) to such extent and subject to such terms and conditions as may be specified in the Scheme;

Provided that such withdrawal shall be allowed only after the expiry of a period of five years from the end of the year in which he makes the initial subscription to the Fund.

(2) Notwithstanding anything contained in sub section (1), a subscriber shall be entitled to withdraw the entire balance standing to his credit in the Fund after the expiry of a period of fifteen years from the end of the year in which he makes the initial subscription to the Fund.

(3) Subject to the provisions of sub-sections (1) and (2), an individual who has made subscriptions to the Fund on behalf of a minor of whom he is the guardian, shall be entitled to withdraw any amount from the Fund only for the use of the minor.

Section 7. Grant of loans

A subscriber may be granted loans out of the amount standing to his credit in the Fund on such terms and conditions as may be specified in the Scheme and where the subscriber is a minor, such loans shall be granted to his guardian only for the use of the minor.

Section 8. Payment on death of subscriber

(1) If a subscriber dies and there is in force at the time of his death a nomination in favour of any person, all amounts standing to his credit in the Fund shall be payable to the nominee.

(2) Where the nominee is a minor, the amounts reffered to in sub-section (1) shall be payable to any guardian of the property of the minor appointed by a competent court, or where no such guardian has been so appointed, to either parent of the minor or where neither parent is alive, to any other guardian of the minor.

(3) Where there is no nomination in force at the time of the death of the subscriber, the amounts referred to in sub-section (1) shall be payable to his legal heirs.

Section 9. Protection against attachment

The amount standing to the credit of any subscriber in the Fund shall not be liable to attachment under any decree or order of any court in respect of any debt or liability incurred by the subscriber.

Section 10. Protection of action taken in good faith

No suit, prosecution or other legal proceeding shall lie against any person for anything which is in good faith done or intended to be done under this Act or the Scheme.

Section 11. Power to remove difficulties

(1) If any difficulty arises in giving effect to the provisions of this Act or the Scheme, the Central Government may, by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act, as appear to it to be necessary or expedient for the removal of the difficulty.

Provided that no such order shall be made after the expiration of three years from the commencement of this Act

(2) Every order made under sub-section (1) shall be laid as soon as may be after it is made before each House of Parliament.

Section 12. Scheme to be laid before Parliament

The scheme will be laid, as soon as may be, after it is framed before each House of Parliament while it is in session for a total period of thirty days which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, both Houses agree in making any modification in any provision of the Scheme or both Houses agree that any pro-vision in the Scheme should not be made, the provision of the Scheme shall thereafter have effect only in such modified form or be of no effect, as the case may be, so however, that any modification or annulment shall be without prejudice to the validity of any thing previously done under that provision.

Schedule

THE SCHEDULE

[See Section 3 (2) ]

Matters for which provisions may be made in the Scheme.-

(1) The manner in which subscriptions to the Fund may be made and the maximum and minimum limits of such subscriptions..

(2) The matter in which interest on subscriptions to the fund may be calculated.

(3) The documents to be issued to subscribers as evidence of the subscriptions made by them to the Fund.

(4) The extent to which and the terms and conditions under which ,withdrawals may be made by subscribers from the amounts standing to their credit in the Fund.

(5) The authority or authorities by or through whom subscriptions to the Fund may be collected or withdrawals therefrom may be made.

(6) The terms and conditions under which loans may be granted to subscribers out of the amounts standing to their credit in the Fund and the authority or authorities by whom such loans may be granted.

(7) The accounts to be maintained with respect to subscriptions to the Fund, and, withdrawals and final payments made and loans granted therefrom and the authority or authorities by whom such accounts shall be maintained.

(8) The nomination of any person to receive the amount standing to the credit of a subscriber in the Fund in the event of his death and the cancellation or change of such nomination.

(9) The issue of duplicate of any document issued as evidence of any subscription to the Fund in the event of damage, loss or destruction of original and the fee on payment of which such duplicate may be issued.

(10) Any other matter which is to be provided for in the Scheme or which may be necessary or proper for the purpose of implementing the Scheme.

Bydeb

The Public Gambling Act, 1867

Preamble

(Act No. 3 of 1867)

[25th January 1867]

[Note: For application of this Act to your State, please see Local Laws of your State also]

An Act to provide for the punishment of public gambling and the keeping of common Gaming-houses in the United Provinces, East Punjab, Delhi and the Central Provinces.

Preamble-Whereas it is expedient to make provision for the punishment of public gambling and the keeping of common gambling-houses in the United Provinces, East Punjab, Delhi and the Central Provinces:

It is hereby enacted as follows:-

Section 1. Interpretation clause

In this Act-

Common gaming-house. -”Common gaining-house” means any house, walled enclosure, room or place in which cards, dice, tables or other instruments of gaming are kept or used for the profit or gain of the person owning, occupying, using or keeping such house, enclosure, room or place, whether by way of charge for the use of the instruments of gaming, or of the house, enclosure, room or place or otherwise howsoever.

Section 2. Power to extend Act

Section 13 and 17 of this Act shall extend to the whole of the said States and it shall be competent to the State Government, whenever it may think fit, to extend, by a notification to be published in three successive numbers of the Official Gazette, all or any of the remaining sections of this Act to any city, town, suburb, railway, station house and place being not more than three miles distant front any part of such station house within the States and in such notification to define, for the purposes of this Act, the limits of such city, town, suburb or station house, and from time to time, to alter the limits so defined.

From the date of any such extension, so much of any rule having the force of law which shall be in operation in the territories to which such extension shall have been made, (as shall be inconsistent with or repugnant to any section so extended, shall cease to have effect in such territories.

Section 3. Penalty for owning or keeping, or having charge of a gaming-house

Whoever, being the owner or occupier, or having the use, of any house, walled enclosure, room or place, situate within the limits to which this Act applies, opens, keeps or uses the same as a common gaming house; and

Whoever, being the owner or occupier of any such house, walled enclosure, room or place as aforesaid, knowingly or wilfully permits the same to be opened, occupied, used or kept by any other person as a common gaming-house; and

Whoever has the care of management of, or in any manner assists in conducting the business of any house, walled enclosure, room or place as aforesaid, opened, occupied, used or kept for the purpose aforesaid; and

Whoever advances or furnishes money for the purpose of gaming with persons frequenting such house, walled enclosure, room or place;

Shall be liable to a fine not exceeding two hundred rupees, or to imprisonment of either description as defined in the Indian Penal Code (45 of 1860) for any term not exceeding three months:

Section 4. Penalty for being found in gaming-house

Whoever is found in any such house, walled enclosure, room or place playing or gaining with cards, dice, counters, money or other instrument of gaming or is found there present for the purpose of gaming, whether playing for any money, wager, stake or otherwise, shall be liable to a fine not exceeding one hundred rupees, or to imprisonment of either description, as defined in the Indian Penal Code (45 of 1860), for any term not exceeding one month.

And any person found in any common gaming-house during any gaming or playing therein shall be presumed, until the contrary be proved, to have been there for the purpose of gaming.

Section 5. Power to enter and authorize police to enter and search

If the Magistrate of a district or other officer invested with the full powers of a Magistrate, or the District Superintendent of Police, upon credible information, and after such enquiry as he may think necessary, has reason to believe at any house, walled enclosure, room, or place, is used as a common gaming-house,

He may either himself enter, or by his warrant authorize any officer of police, not below such rank as the State Government shall appoint in this behalf to enter, with such assistance as may be found necessary, by night or by day, and by force, if necessary, any such house, walled enclosure, room or place,

And may either himself take into custody, or authorize such officer to take into custody, all persons whom he or such officer finds therein, whether or not then actually gaming,

And may seize or authorize such officer to seize all instruments of gaming and all moneys and securities for money, and article of value, reasonably suspected to have been used or intended to be used for the purpose of gaming, which are found therein,

And may search or authorize such officer to search all parts of the house, walled enclosure, room or place which he or such officer shall have so entered when he or such officer has reason to believe that any instruments of gaining are concealed therein, and also the persons of those who he or such officer so takes into custody,

And may seize or authorize such officer to seize and take possession of all instruments of gaming found upon such search.

Section 6. Finding cards, etc., in suspected houses, to be evidence that such houses are common gaming-houses

When any cards, dice, gaming tables, cloths, boards or other instruments of gaming are found in any house, walled enclosure, room or place, entered or searched under the provisions of the last preceding section, or about the person of any of those who are found therein, it shall be evidence, until the contrary is made to appear, that such house, walled enclosure, room or place, is used as a common gaming house, and that the persons found therein were there present for the purpose of gaining although no play was actually seen by the Magistrate or police officer, or any of his assistants.

Section 7. Penalty on persons arrested for giving false name and addresses

If any person found in any common gaming-house entered by any Magistrate or officer of police under the provisions of this Act, upon being arrested by any such officer or upon being brought before any Magistrate, on being required by such officer or Magistrate to give his name and address, shall refuse or neglect to give the same, or shall give any false name or address, he may, upon conviction before the same or any other Magistrate be adjudged to pay any penalty not exceeding five hundred rupees, together with such costs as to such magistrate shall appear reasonable, and on the nonpayment of such penalty and costs, or in the first instance, if to such Magistrate it shall seem fit, may be imprisoned for any period not exceeding one month.

Section 8. On conviction for keeping a gaming-house, instruments of gaming to be destroyed

On conviction of any person for keeping or using any such common gaming house, or being present therein for the purpose of gaming, the convicting Magistrate may order all the instruments of gaming found therein to be destroyed, and may also order all or any of the securities for money and other articles seized, not being instruments of gaming, to be sold and converted into money, and the proceeds thereof with all moneys seized therein to be forfeited or, in his discretion, may order any part thereof to be returned to the persons appearing to have been severally there upon entitled.

Section 9. Proof of playing for stakes unnecessary

It shall not be necessary, in order to convict any person of keeping a common gaming-house, or of being concerned in the management of any common gaming-house, to prove that, any person found playing at any game was playing for any money, wager or stake.

Section 10. Magistrate may require any person apprehended to be sworn and give evidence

It shall be lawful for the Magistrate before whom any person shall be brought, who have been found in any house, walled enclosure, room or place entered under the provision of this Act to require any such person to be examined on oath or solemn affirmation and give evidence touching any unlawful gaming in such house, walled enclosure, room or place, or touching any act done for the purpose of preventing, obstructing or delaying the entry into such house, walled enclosure, room or place or any part thereof, of any Magistrate or officer authorized as aforesaid.

No person so required to be examined as a witness shall be excused from being so examined when brought before such Magistrate as aforesaid, or front being so examined at any subsequent time by or before the same or any other Magistrate, or by or before any Court on any proceeding or trial in any ways relating to such unlawful gaming or any such, acts as aforesaid, or from answering, any question put to him touching the matters aforesaid, on the ground that his evidence will tend to criminate himself.

Any such person so required to be examined as a witness, who refuses to make oath or take affirmation accordingly or to answer any such question as aforesaid, shall be subject to be dealt with in all respects as any person committing the offence described in Section 178 or Section 179 (as the case may be) of the Indian Penal Code (45 of 1860).

Section 11. Witness indemnified

Any person who shall have been concerned in gaining contrary to this Act, and who shall be examined as a witness before a Magistrate on the trial of any person for a breach of any of the provisions of this Act relating to gaining, and who, upon such examination, shall, in the opinion of the Magistrate, make true and faithful discovery, to the best of his knowledge, of all things as to which he shall be so examined, shall thereupon receive from the said magistrate a certificate in writing to that effect and shall be freed from-all prosecutions under this Act for anything done before that time in respect of such gaming.

Section 12. Act not to apply to certain games

Nothing in the foregoing provisions of this Act contained shall be held to apply to any game of mere skill wherever played.

Section 13. Gaming and setting birds and animals to fight in public streets

A police officer may apprehend without warrant-

Any person found playing for money or other valuable thing with cards, dice, counters or other instruments of gaming, used in playing any game not being a game of mere skill, in any public street, place or thoroughfare situated within the limits aforesaid, or

Any person setting any birds or animals to fight, in any public street, place, or thoroughfare situated within the limits aforesaid, or

Any person there present aiding and abetting such public fighting of birds and animals such person when apprehended shall be brought without delay before a Magistrate, and shall be liable to a fine not exceeding fifty rupees, or to imprisonment, either simple or rigorous, for any term not exceeding one calendar month;

Destruction of instruments of gaming found in public streets

And such police officer may seize all instruments of gaining found in such public place or on the person of those whom he shall so arrest and the Magistrate may, on conviction of the offender, order such instruments to be forthwith destroyed.

Section 14. Offences by whom triable

Offences punishable under this Act shall be triable by any Magistrate having jurisdiction in the place where the offences is committed,

But such Magistrate shall be restrained within the limits of his jurisdiction under the Code of Criminal Procedure as to the amount of fine or imprisonment he may inflict.

Section 15. Penalty for subsequent offence

Whoever, having been convicted of an offence punishable under Section 3 or Section 4 of this Act shall again be guilty of any offence punishable under either of such sections, shall be subject for every such subsequent offence to double the amount of punishment to which he would have been liable for the first commission of an offence of the same description:

Provided that he shall not be liable in any case to a fine exceeding six hundred rupees, or to imprisonment for a term exceeding one year.

Section 16. Portion of fine may be paid to informer

The Magistrate trying the case may direct any portion of any fine which shall be levied under Sections 3 and 4 of this Act, or any part of the moneys or proceeds of articles seized and ordered to be forfeited under this Act, to be paid to an informer.

Section 17. Recovery and application of fines

All fines imposed under this Act may be recovered in the manner prescribed by [Section 61 of the Code of Criminal Procedure.]

Section 18. Offences under this Act to be “offences” within the meaning of Penal Code

Repealed by the Repealing Act, 1874 (16 of 1874),

Bydeb

The Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978

Preamble

No. 16 OF 1978

[30th April, 1978]

An Act provide for restricting of the iron and steel companies in the public sector so as to secure better management and greater efficiently in their working and for matters connected therewith or incidental thereto.

BE it enacted by Parliament in the Twenty-ninth year of the Republic of India as follows;-

Section 1. Short title and commencement

(1) This Act may be called the Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978.

(2) It shall come into force on such date1 as the Central Government may, by notification in the official Gazette, appoint.

——————–

1. 1-5-1978: Notifin.No.S.O.291 (E), dated 30-4-1978, Gazette of India, Extraordinary, Part II, Section 3 (ii), Page 576.

Section 2. Definitions

(1) In this Act, unless the context otherwise requires;-

(a) “Appointed day;’ means the date on which this Act comes into force;

(b) “Companies Act’ means the Companies Act, 1956 (1 of 1956);

(c) “Corresponding unit” in relation to;-

(i) The Integral Company, means that unit of the Integral Company which corresponds to the unit of the dissolved company or the transferred company in which the concerned officer or other employee was holding office before the transfer of the said unit;

(ii) A transferee company, means that unit of a transferee company which corresponds to the unit of the dissolved company in which the concerned officer or other employee was holding office before the transfer of the said unit;

(d) “Dissolved company” means a company specified in the First Schedule;

(e) “Integral Company” means the Steel Authority of India Limited, a company formed and registered under the Companies Act having its registered office at New Delhi;

(f) ‘Transferee company’ means the company to which the undertakings of a dissolved company or of a transferred unit, as the case may be , stand transferred by virtue of the provisions of this Act;

(g) ‘Transferred company” means:-

(i) Metallurgical and Engineering Consultants(India ) Limited, a company formed and registered under the Companies Act having its registered office at Ranchi in the State of Bihar;

(ii) National Mineral Development Corporation Limited, a company formed and registered under the Companies Act having its registered office at Hyderabad in the State of Andhra Pradesh;

(iii) Hindustan Steel works Construction Limited , a Company formed and registered under the Companies Act having its registered office at Calcutta in the State of West Bengal;

(iv) Bharat Refractories limited, a company formed and registered under the Companies Act having its registered office at Bokaro Steel city in the State of Bihar , or

(v) India Firebricks and Insulation Company Limited, a company formed and registered under the Companies Act having its registered office at Bombay in the State of Maharashtra;

(h) Transferred unit means:-

(i) Kiriburu Iron Ore Mines, a unit of the National Mineral Development Corporation Limited or

(ii) Megahatuburu Iron Ore Project, a unit of the National mineral Development Corporation Limited.;

(iii) Ramgarh Refractory Plant, a unit of the Hindustan Steel Limited (situated near Ramgarh in the State of Bihar);

(iv) Refractory Project, a unit of the Hindustan Steel Limited (situated at Bhilai in the State of Madhya Pradesh); or

(v) Sillimanite Mines, a unit of the Hindustan Steel Limited (situated in the State of Meghalaya).

(2) Words and expressions used herein and not defined but defined in the Companies Act have the meanings respectively assigned to them in that Act.

Section 3. Under-taking meaning of

For the purposes of this Act, the undertaking of a dissolved company or of a transferred unit shall be deemed to include all assets, rights leaseholds(including mining leases, if any) industrial or other licences, powers, authorities and privileges and a property, moveable and immovable , including lands, buildings, works, mines, workshops, projects, smelters, stores, instruments, machinery, automobiles and other vehicles, cash or bank balances, cash in hand, investments and book debts and all other rights and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the dissolved company or the transferred unit, as the case may be(whether within or without India), or all books of account registers maps drawings records of survey and all other documents of whatever nature relating thereto, and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind of the dissolved company or the transferred unit.

Explanation ;- Reference in this section to an undertaking of a transferred unit shall be deemed to be a reference to so much of the undertaking of the company of which that forms a unit as is relatable to it as if it were a separate company.

Section 4. Dissolution, transfer and vesting of undertakings of certain companies in Integral Company

On the appointed day, the companies specified in the First Schedule shall dissolved and subject to the provisions of section 6, and 7 all the undertakings of such companies shall stand transferred to, and vest in the Integral Company.

Section 5. Transfer and vesting of Kiriburu Iron Ore Mines, etc., in Integral Company

On the appointed day, the undertakings of the following transferred units shall stand transferred to, and vest in, the Integral Company, namely;-

(a) Kiriburu Iron Ore Mines, a unit of the National Mineral Development Corporation Limited, and

(b) Meghahatuburu Iron Ore Project, a unit of the National Mineral Development Corporation Limited.

Section 6. Transfer and vesting of Refractory Plant, etc., in the Bharat Refractories Limited

(1) On the appointed day, the undertakings of the following transferred units shall stand transferred to, and vest in, the Bharat Refractories Limited namely;-

(a) Ramgarh Refractory Plant of the Hindustan Steel Limited (situated near Ramgarh in the State of Bihar)

(b) Sillimanite Mines of the Hindustan Steel Limited (situated in the State of Meghalaya) , and

(c) Refractory Project of the Hindustan Steel Limited (situated at Bhilai

(2) Notwithstanding anything contained in the Companies Act, as from the appointed day, the registered office of the Bharat Refractories Limited may remain at Bokaro Steel City or be transferred to Ranchi.

Section 7. Transfer of immovable properties of Hindustan Steel Limited to Metallurgical and Engineering Consultants (India) Limited

On the appointed day , the right , title and interest of the Hindustan steel Limited in the immovable properties owned by it in Ranchi District of the State, of Bihar, together with liabilities and obligations in relation thereto, shall stand transferred to, and vest in, the Metallurgical and Engineering Consultants (India) Limited.

Section 8. Transfer of shares held by Bokaro Steel Limited to Central Government

On the appointed day, all the shares held by the Bokaro Steel Limited in the share capital of the Bharat Refractories Limited shall stand transferred to, and vest in, the Central Government.

Section 9. Transfer of shares held by Integral Company to Central Government

On the appointed day, all the shares held by the Integral Company in the share capital of each of the companies specified in the Second Schedule shall stand transferred to, and vest in, the Central Government.

Section 10. Transfer of shares held by Integral Company to Bharat Refractories Limited

On the appointed day, all the shares held by the Integral Company in the share capital of the India Firebricks and Insulation Company Limited(a company formed and registered under the Companies Act having its registered office at Bombay in the State of Maharashtra) shall stand transferred to, and vest in, the Bharat Refractories Limited.

Section 11. Transfer of shares held by Central Government to Integral Company

On the appointed day, all the shares held by the Central Government in the share capital of the Indian Iron and Steel Company Limited ( a company under the Companies Act having its registered office at Calcutta in the State of West Bengal) shall stand transferred to, and vest in , the Integral Company

Section 12. Central Government, etc., deemed to be registered in the register of members of companies

The Central Government , the Bharat Refractories Limited or the Integral Company, as the case may be, shall be deemed ,as from the appointed day, to have been registered in the register of members of the companies concerned as the holder of each share which stands transferred to , and vested in, each of them by virtue of the provisions of section 8,9,10 or 11 as the case may be.

Section 13. Power of Central Government to modify amount of paid-up share capital of Integral Company, etc., and issue of share

(1) The Central Government may, from time to time by order published in the Official Gazette, specify the amount by which the paid up share capital of the Integral Company, the Bharat Refractories Limited, the Metallurgical and Engineering Consultants (India) Limited, and the National Mineral Development Corporation Limited shall stand reduced or increased as a result of transfer of shares , undertakings or immovable properties, as the case may be, under the provisions of this Act.

(2) In Specifying the amount under sub-section (10, the Central Government shall have regard to the following factors namely;-

(i) The book value of shares referred to in section 8,9,10, or 11 as the case may be, of the concerned company , on the appointed day.

(ii) The net value of the undertakings of the dissolved company and transferred unit, as on the appointed day, and

(iii) The book value of the immovable properties owned by the Hindustan Steel Limited referred to in section 7, as on the appointed day, as are transferred to or from the companies referred to in sub-section (1).

(3) Every order made under sub-section (1) shall be made within a period of one year from the appointed day and any such order may take effect prospectively or retrospectively, but not with effect from a date earlier than the appointed day.

(4) Any order made by the Central Government under this Section may include a direction for the issue or cancellation of appropriate number of share so as to give effect to the provisions of this Act.

Section 14. Provisions relating to officers and other employees of dissolved companies

(1) Every officer ( not being a director) or other employee holding office immediately before the appointed day in a dissolved company in relation to any undertaking of such company, other than an officer or other employee holding such office in relation to transferred units referred to in section 6, shall, as from the appointed day, continue to hold office as such in the corresponding unit of the Integral Company by the same tenure and upon the same terms and conditions of service and with the same rights and privileges as to retirement benefits as would have been admissible to him if the company in which he was holding office had not been dissolved and shall continue to do so unless and until such tenure and terms and conditions are duly altered by the Integral Company.

(2) Notwithstanding anything contained in sub-section (1), rules relating to the conditions, of service and Standing Orders applicable to the officers or other employees referred to in sub-section (1), as immediately before the appointed day, shall continue to apply unless and until they are duly altered by the Integral Company or other authority as the case may be.

Section 15. Provisions relating to officers and employees of transferred units

(1) Every officer or other employee holding office immediately before the appointed day in the transferred unit shall, as from the appointed day, continue to be an officer or other employee of the corresponding unit of the transferee company by the same tenure and upon the same terms and conditions of service and with the same rights and privileges as to retirement benefits as would have been admissible to him if the transferred unit in which he was holding office had not been transferred and shall continue to do so unless and until such tenure and terms and conditions are duly altered by the transferee company.

(2) Notwithstanding anything contained in sub-section (1), rules relating to the conditions of service and Standing Orders applicable to the officers or other employees referred to in sub-section (1), as immediately before the appointed day, shall continue to apply unless and until they are duly altered by the transferee company or other authority , as the case may be.

Section 16. Provisions relating to directors

(1) Every person holding office as a director of a dissolved company immediately before the appointed day, shall, on that day, cease to hold office as such director.

(2) Every person, being a director in whole-time employment of a dissolved company, immediately before the appointed day, shall continue to be an employee of the corresponding unit of the Integral Company with such designation and on such terms and conditions as may be determined by the Integral Company.

Section 17. Provision relating to auditors

Every person appointed under section 619 of the Companies Act as an auditor of a dissolved company or of a transferred unit, holding office immediately before the appointed day, may continue to hold office as such auditor in the corresponding unit of the Integral Company or of any other transferee company, as the case may be, for the duration for which he was so appointed, on the same terms and conditions as were applicable to him immediately before the appointed day.

Section 18. Compensation for transfer not payable

Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947) or in any other law for the time being in force, the transfer of services of any officer or other employee shall not entitle such officer or other employee to any compensation under that Act or under any other law for the time being in force and no claim for such compensation shall be entertained by any court, tribunal or other authority.

Section 19. Provident Fund

Where a provident fund has been established by a dissolved company or any other company in respect of a transferred unit for the benefit of the employees and the same stands vested in a trust, the moneys and other assets standing to the credit of each provident fund shall continue to be held in trust with the same objects as were applicable before the appointed day and the trustees of such trusts immediately before the appointed day, shall, subject to the provisions of the trust deeds and the rules relating to such trusts, continue to function as trustees in respect of such provident fund of the corresponding unit of the Integral Company or of other transferee company, as the case may be, as if this Act had not been passed.:

Provided that the right to nominate trustees and other rights relating to the trusts vested in the dissolved company or other company in respect of the transferred unit, as the case may be, shall vest in the Integral Company or other transferee company, as the case may be.

Section 20. Gratuity, welfare and other funds

Where any gratuity, welfare or other fund has been established by a dissolved company or any other company in respect of a transferred unit for the benefit of its employees and is in existence immediately before the appointed day, all moneys and other assets standing to the credit of or relatable to such gratuity, welfare or other fund shall vest in the corresponding unit of the Integral Company or other transferee company, as the case may be.

Section 21. Provisions with respect to income-tax and surtax

(1) The Integral Company shall be liable to pay any sum under the provisions of the Income-tax Act or the Companies (Profits) Surtax Act which any dissolved company would have been liable to pay if the dissolution had not taken place in the like manner and to the same extent as the dissolved company.

(2) For the purpose of making an assessment of the income or , as the case may be, the chargeable profits of any dissolved company and for the purpose of levying any sum in accordance with the provisions of sub-section (1);-

(a) Any proceeding taken against any dissolved company before the appointed day shall be deemed to have been taken against the Integral Company and may be continued against the Integral Company from the stage at which it stood immediately before the appointed day;

(b) Any proceeding which could have been taken against any dissolved company if the dissolution had not taken place may be taken against the Integral Company ; and

(c) All the provisions of the Income-tax Act or, as the case may be , the Companies ( Profits ) Surtax Act shall apply accordingly.

(3) The assessment of the income, or as the case may be, the chargeable profits of the previous year of any dissolved company in which the dissolution took place up to the appointed day shall be made as if such dissolution had not taken place, and all the provisions of the Income Tax Act and the Companies (Profits ) Surtax Act shall, so far as may be apply accordingly.

(4) The transfer to, and vesting in, of the undertaking of any dissolved company in the Integral Company under the provisions of this Act shall be deemed to be an amalgamation in relation to such companies and the provisions of the Income -tax Act shall, so far as may be, apply accordingly as if reference in the said Act to the amalgamating company and amalgamated company were references to the dissolved company and the Integral Company respectively.

(5) Where any capital asset forming part of any undertaking belonging to the transferred unit or , as the case may be, the Hindustan Steel Limited is, in pursuance of section 5 or section 6 or section 7, transferred to, and vests in, the Integral Company or the Bharat Refractories Limited or, as the case may be, the Metallurgical and Engineering Consultants( India) Limited , such capital asset shall be deemed to have been transferred in a scheme of amalgamation and the provisions of the Income-tax Act shall, so far as may be apply accordingly as if references in the said Act to the amalgamating company were references to the transferred unit or, as the case may be, the Hindustan Steel Limited and the references to the amalgamated company, being an Indian company, Limited or, as the case may be, the Metallurgical and Engineering Consultants (India) Limited.

(6) The accumulated loss and the unabsorbed depreciation , if any of any dissolved company shall be deemed to be the loss or, as the case may be allowance for depreciation of the Integral Company for the previous year in which undertaking of the dissolved company vested in the Integral Company , and the provisions of the Income-tax Act relating to set off and carry forward of loss and allowances for depreciation shall apply accordingly.

(7) The provisions of sub-section (1) to (6) shall have effect notwithstanding anything to the contrary contained in the Income-tax Act or the Companies (Profits ) Surtax Act.

Explanation :- For the purposes of this section

(a) “Income -tax Act “ , means the Income -tax Act, 1961 (43 of 1961);

(b) “Companies ( Profits) Surtax Act” means the Companies (Profits ) Surtax Act, 1964 (7 of 1964);

(c) Words and expression used in this section and not defined in this Act but defined in the Income-tax Act or the Companies (Profits) Surtax Act shall have the meanings respectively assigned to them in the said Act.

Section 22. Taxes, fees and other charges not payable

For the removal of doubts, it is hereby declared that no taxes, duties, fees or other charges of whatever nature ( including registration charges) shall be payable in respect of any transfer of shares or transfer of any undertakings or transfer of any immovable property under the provisions of this Act.

Section 23. Saving of contracts, etc

(1) All contracts, deeds bonds, agreements and other instruments of whatever nature to which the dissolved company is a party subsisting or having effect immediately before the appointed day, shall, as from that day, be of full force and effect against , or in favour of the Integral Company or other transferee company, as the case may be , and may be enforced as fully and effectually as if, instead of the dissolved company, the Integral Company or other transferee company had been a party thereto.

(2) All contracts, deeds bonds, agreements and other instruments of whatever nature of which the company in respect of a transferred unit is a party if and in so far as it relates to matters pertaining to the undertakings of the transferred unit, subsisting or having effect immediately before the appointed day, shall, as from that day, be of full force and effect against, or in favour of the Integral Company or other transferee company, as the case may be and may be enforced as fully and effectually as if , instead of such company, the Integral Company or other transferee company had been a party thereto.

Section 24. Saving of legal proceedings

If, on the appointed day, there is pending any suit, arbitration, appeal or other legal proceeding of whatever nature by or against a dissolved company , the same shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer under the provisions of this Act to the Integral Company or any other transferee company, as the case may be, of the undertakings of the dissolved company or of anything contained in this Act, but the suit, arbitration, appeal or other proceeding may be continued , prosecuted and enforced by or against the Integral Company or other transferee company, as the case may be , in the same manner and the same extend as it would or might have been continued , prosecuted and enforced by or against the dissolved company if this Act had not been passed.

Section 25. Power to remove difficulties

If any difficulty arises in giving effect to the provisions of this Act the Central Government , may by order published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act, as appears to it to be necessary, for the removal of the difficulty:

Provided that no such order shall be made after the expiry of a period of three years from the appointed day

Section 26. Act to override the provisions of other laws

The provisions of this Act or of any order made thereunder shall have effect notwithstanding anything contained in the Companies Act or in any other law for the time being in force or in any contract, express or implied, or in any rules or regulations having effect by virtue of any law other than this Act.

Section 27. Power to amend memorandum and articles of association

(1) For the purpose of giving effect to the provisions of this Act, the Central Government may , by notification in the Official Gazette, make amendments in the memorandum or articles of association, or both of the Integral Company or other transferee company.

(2) Any amendments in the memorandum or articles of association of the Integral Company or other transferee company made in pursuance of sub-section (1) shall have effect notwithstanding anything contained in the Companies Act.

Schedule 1

THE FIRST SCHEDULE

[See Section 2(1) (d) and 6]

1. Bhilai Ispat Limited, a company formed and registered under the Companies Act having its registered office at Bhilai in the State of Madhya Pradesh.

2. Bokaro Steel Limited, a company formed and registered under the Companies Act having its registered office at Bokaro Steel City in the State of Bihar.

3. Durgapur Mishra Ispat Limited, a company formed and registered under the Companies Act having its registered office at Durgapur in the State of West Bengal.

4. Hindustan Steel Limited, a company formed and registered under the Companies Act having its registered office at Ranchi in the State of Bihar

5. Rourkela Ispat Limited a company formed and registered under the Companies Act having its registered office at Rourkela in the State of Orissa.

6. SAIL international Limited, a company formed and registered under the Companies Act having its registered office at Calcutta in the State of West Bengal.

7. Salem Steel Limited, a company formed and registered under the Companies Act having its registered office at Salem in the State of Tamil Nadu.

Schedule 2

THE SECOND SCHEDULE

(See Section 9)

1. Metallurgical and Engineering Consultants( India ) Limited , a company formed and registered under the Companies Act having its registered office at Ranchi in the State of Bihar.

2. Hindustan Steelworks Construction Limited, a company formed and registered under the Companies Act having its registered office at Calcutta in the State of West Bengal.

3. National Mineral Development Corporation Limited, a company formed and registered under the Companies Act having its registered office at Hyderabad in the State of Andhra Pradesh.

4. Manganese Ore (India) Limited, a company formed and registered under the Companies Act having its registered office at Nagpur in the State of Maharashtra.

5. Madovi Pellets Limited, a company formed and registered under the Companies Act having registered office at Mormugao Harbour in the Union territory of Goa , Daman and Diu.

Bydeb

The Public Records Act, 1993

Preamble

[Act No. 69 of 1993]

[21st December, 1993.]

An Act to regulate the management, administration and preservation of public records of the Central Government, Union territory Administrations, public sector undertakings statutory bodies and corporations, commissions and committees constituted by the Central Government or a Union Territory Administration and matters connected therewith or incidental thereto.

BE it enacted by Parliament in the Forty-fourth Year of the Republic of India as follows:-

Section 1. Short title and commencement

(1) This Act may be called the Public Records Act, 1993.

(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.

Section 2. Definitions

In this Act, unless the context otherwise requires,-

(a) “Board” means the Archival Advisory Board constituted under sub-section (1) of section 13;

(b) “Director General” means the Director General of Archives appointed by the Central Government and includes any officer authorised by that Government to perform the duties of the Director General;

(c) “Head of the Archives” means a person holding the charge of the Archives of the Union territory Administration;

(d) “Prescribed” means prescribed by rules made under this Act;

(e) “Public records” includes-

(i) Any document, manuscript and file;

(ii) Any microfilm, microfiche and facsimile copy of a document;

(iii) Any reproduction of image or images embodied in such microfilm (whether enlarged or not); and

(iv) Any other material produced by a computer or by any other device, of any records creating agency;

(f) Records creating agency includes,-

(i) In relation to the Central Government, any ministry, department or office of that Government;

(ii) In relation to any statutory body or corporation wholly or substantially controlled or financed by the Central Government or commission or any committee constituted by that Government, the offices of the said body, corporation commission or committee;

(iii) In relation to a Union territory Administration, any department or office of that Administration;

(iv) In relation to any statutory body or corporation wholly or substantially controlled or financed by Union territory Administration or commission or any committee constituted by that Administration, the office of the said body, corporation, commission or committee;

(g) “Records officer” means the officer nominated by the records creating agency under sub-section (1) of section 5.

Section 3. Power of the Central Government to coordinate, regulate and supervise operations connected with administration, management, etc. of public records

(1) The Central Government shall have the power to coordinate, regulate and supervise the operations connected with the administration, management, preservation, selection, disposal and retirement of public records under this Act.

(2) The Central Government in relation to the public records of the records creating agencies specified in sub-clauses (I) and (ii) of clause (f) of section 2 and the Union territory Administration in relation to the public records of the records creating agencies specified in sub-clauses (iii) and (iv) of the said clause, may, be order, authorise the Director General or the head of the Archives, as the case may be, subject to such conditions as may be specified in the order, to carry out all or any of the following functions, namely:-

(a) Supervision, management and control of the Archives:

(b) Acceptance for deposit of public records of permanent nature after such period as may be prescribed;

(c) Custody, use and withdrawal of public records;

(d) Arrangement, preservation and exhibition of public records;

(e) Preparation of inventories, indices, catalogues and other reference media of public records;

(f) Analysing, developing, promoting and coordinating the standards, procedures and the techniques for improvement of the records management system;

(g) Ensuring the maintenance, arrangement and security of public records in the Archives and in the offices of the records creating agency;

(h) Promoting utilisation of available space and maintenance of equipments for preserving public records;

(i) Tendering advice to records creating agencies on the compilation, classification and disposal of records and application of standards, procedures and techniques of records management;

(j) Survey and inspection of public records;

(k) Organizing training programmes in various disciplines or Archives administration and records management;

(l) Accepting records from any private source;

(m) Regulating access to public records;

(n) Receiving records from defunct bodies and making arrangement for securing public records in the event of national emergency;

(o) Receiving reports on records management and disposal practices from the records officer:

(p) Providing authenticated copies of or extracts from, public records;

(q) Destroying or disposal of public records;

(r) Obtaining on lease or purchasing or accepting as gift any document of historical or national importance.

Section 4. Prohibition against taking of public records out of India

No person shall take or cause to be taken out of India any public records without the prior approval of the Central Government:

Provided that no such prior approval shall be required if any public records are taken or sent out of India for any official purpose.

Section 5. Records officer

(1) Every records creating agency shall nominate one of its officers as records officer to discharge the functions under this Act.

(2) Every records creating agency may set up such number of record rooms in such places as it deems fit and shall place each record room under the charge of a records officer.

Section 6. Responsibilities of records officer

(1) The records officer shall be responsible for-

(a) Proper arrangement, maintenance and preservation of public records under his charge;

(b) Periodical review of all public records and weeding out public records of euphemeral value;

(c) Appraisal of public records which are more than twenty-five years old in consultation with the National Archives of India or, as the case may be, the Archives of the Union territory with a view to retaining public records of permanent value;

(d) Destruction of public records in such manner and subject to such conditions as may be prescribed under sub-section (1) of section 8;

(e) Compilation of a schedule of retention for public records in consultation with the National Archives of India or, as the case may be the Archives of the Union territory;

(f) Periodical review for downgrading of classified public records in such manner as may be prescribed;

(g) Adoption of such standards, procedures and techniques as may be recommended from time to time by the National Archives of India for improvement of record management system and maintenance of security of public records;

(h) Compilation of annual indices of public records;

(i) Compilation of organisational history and annual supplement thereto;

(j) Assisting the National Archives of India or as the case may be, the Archives of the Union territory for public records management;

(k) Submission of annual report to the Director General or, as the case may be, head of the Archives in such manner as may be prescribed;

(l) Transferring of records of any defunct body to the National Archives of India or the Archives of the Union territory, as the case may be, for preservation.

(2) The records officer shall act under the direction of the Director General or, as the case may be, head of the Archives while discharging the responsibilities specified in sub-section (1).

Section 7. Records officer to take appropriate action in the event of unauthorised removal, destruction, etc., of public records in his custody

(1) The records officer shall, in the event of any unauthorised removal destruction, defacement or alteration of any public records under his charge, forthwith take appropriate action for the recovery or restoration of such public records.

(2) The records officer shall submit a report in writing to the Director General or, as the case may be, the head of the Archives without any delay on any information about any unauthorised removal, destruction, defacement or alteration of any public records under his charge and about the action initiated by him and shall take action as he may deem necessary subject to the directions, if any, given by the Director General or, as the case may be, head of the Archives.

(3) The records officer may seek assistance from any government officer or any other person for the purpose of recovery or restoration of public records and such officer or person shall render all assistance to the records officer.

Section 8. Destruction or disposal of public records

(1) Save as otherwise provided in any law for the time being in force, no public record shall be destroyed or otherwise disposed of except in such manner and subject to such conditions as may be prescribed

(2) No record created before the year 1892 shall be destroyed except where in the opinion of the Director General or, as the case may be, the head of the Archives, it is so defaced or is in such condition that it cannot be put to any archival use.

Section 9. Penalty for contraventions

Whoever contravenes any of the provisions of section 4 or section 8 shall be punishable with imprisonment for a term which may extend to five years or with fine which may extend to ten thousand rupees or with both.

Section 10. Public records bearing security classification

No public records bearing security classification shall be transferred to the National Archives of India or the Archives of the Union territory.

Section 11. Receipt of records from private sources

(1) The National Archives of India or the Archives of the Union territory may accept any record of historical or national importance from any private source by way of gift, purchase or otherwise.

(2) The National Archives of India or, as the case may be, the Archives of any Union territory may, in such manner and subject to such conditions as may be prescribed, make any record referred to in sub-section (1) available to any bona fide research scholar.

Section 12. Access to public records

(1) All unclassified public records as are more than thirty years old and are transferred to the National Archives of India or the Archives of the Union territory may be, subject to such exceptions and restrictions as may be prescribed made available to any bona fide research scholar.

Explanation. For the purpose of this sub-section, the period of thirty years shall be reckoned from the year of the opening of the public record.

(2) Any records creating agency may grant to any person access to any public record in its custody in such manner and subject to such conditions as may be prescribed.

Section 13. Archival Advisory Board

(1) The Central Government may, by notification in the Official Gazette, constitute an Archival Advisory Board for the purposes of this Act.

(2) The Board shall consist of the following members, namely:-

(a) Secretary to the Government of India in the Ministry of Chairman, ex-officio; Central Government dealing with culture

(b) One officer not below the rank of Joint Secretary to the Members, ex-officio Government of India, each from the Cabinet Secretariat, Ministry of Home Affairs, Ministry of Defence, Ministry of External Affairs, Ministry of Finance and Ministry of Personnel, Public Grievances and Pension

(c) Two representatives not below the rank of Joint Secretary in Members; the Union territory Administrations to be nominated by the Central government

(d) Three persons to be nominated by the Central Government for Members; a period not exceeding three years, one being an Archivist and two being Professors in the Post-graduate Department of History in any recognised University

(e) Director General Member-Secretary, ex officio.

(3) The members nominated under clause (d) of sub-section (2) shall be paid such allowances as may be prescribed.

Section 14. Functions of the Board

The Board shall perform the following functions, namely:-

(a) Advise the Central Government and Union territory Administrations on matters concerning the administration, management, conservation and use of public records;

(b) Lay down guidelines for training of Archivists:

(c) Give directions for acquisition of records from private custody;

Section 15. Power of the Director General to lay down norms and standards for courses in archival science

The Director General shall have the power to lay down norms and standards for courses curricula, assessment and examinations relating to the training in archival science and other ancillary subjects.

Section 16. Protection of action taken in good faith

No suit, prosecution or other legal proceedings shall lie against any person in respect of anything which is in good faith done or intended to be done in pursuance of this Act or the rules made thereunder.

Section 17. Power to make rules

(1) The Central Government may, by notification in the Official Gazette, make rules to carry out the provision of this Act.

(2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-

(a) The period after which public records of permanent nature may be accepted under clause (b) of sub-section (2) of section 3;

(b) The manner in which and the conditions subject to which public records can be destroyed under clause (d) of sub-section (1) of section 6;

(c) The manner in which periodical review of classified public records for downgrading shall be undertaken under clause (f) of sub-section (1) of section 6;

(d) The manner in which the records officer will report to the Director General or the head of the Archives under clause (k) of sub-section (1) of section 6;

(e) The manner in which and the conditions subject to which public records may be destroyed or disposed of under sub-section (1) of section 8;

(f) The manner in which and the conditions subject to which records of historical or national importance may be made available to research scholar under sub-section (2) of section 11;

(g) Exceptions and restrictions subject to which public records may be made available to a research scholar under sub-section (1) of section 12;

(h) The manner in which and the conditions subject to which any records creating agency may grant to any person access to public records in its custody under sub-section (2) of section 12;

(i) The allowances payable to members of the Board under sub-section (3) of section 13;

(j) The matters with respect to which the Board may perform its functions under clause (d) of section 14:

(k) Any other matter which is required to be, or may be, prescribed.

Section 18. Laying of rules before Parliament

Every rule made under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and it, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done under that rule.

Bydeb

The Public Suits Validation Act, 1932

[Act No. 11 OF 1932]

[8th April, 1932.]

An Act to validate certain suits relating to public matters.

WHEREAS it is expedient to validate certain suits relating to public matters which may be or have been held to be invalid by reason of the previous sanction of the Local Government in respect thereof not having been obtained as required by section 93 of the Code of Civil Procedure, 1908, 5 of 1908.; It is hereby enacted as follows:-

1. Short title and extent.

(1) This Act may be called the Public Suits Validation Act, 1932.

(2) It extends to all parts of 1[Part A States and Part C States] to which sections 91, 92 and 93 of the Code of Civil Procedure, 1908, 5 of 1908.extend.

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1. Subs by the A.O.1950 for “the Provinces”.

2. Validation of certain pending public suits.

Where a suit relating to any of the public matters specified in sections 91 and 92 of the Code of Civil Procedure, 1908, 5 of 1908.is pending at the commencement of this Act, the institution of such suit shall not be deemed to be invalid on the ground that the previous sanction of the State Government in respect of such suit has not been obtained as required by section 93 of that Code.

Explanation.- For the purposes of this section a suit pending at the commencement of this Act includes a suit in respect of which an appeal lies or is pending at the commencement of this Act.

3. Restoration of certain dismissed public suits.

Where any suit relating to any such public matter has, after the 30th day of November, 1931, 5 of 1908.and before the commencement of this Act, been dismissed by a Court of first instance solely on the ground that the sanction of the State Government in respect of such suit has not been obtained as required by section 93 of the Code of Civil Procedure, 1908, the Court shall, on application made within six months from the commencement of this Act, make an order setting aside its decree and shall proceed with the suit.

4. Retrial of certain appeals relating to public suits, 5 of 1908.

Where, in any appeal arising from a suit relating to any such public matter, a decree has been passed after the 30th day of November, 1931, and before the commencement of this Act, dismissing the appeal or dismissing the suit from which the appeal arose, solely on the ground that the previous sanction of the State Government in respect of the suit had not been obtained as required by section 93 of the Code of Civil Procedure, 1908, the Appellate Court shall, on application made within six months from the commencement of this Act, make an order setting aside its decree and shall proceed with the appeal.