REGISTERED NO.D.221
The Gazette of India
EXTRAORDINARY
PART II---Section 1
PUBLISHED BY AUTHORITY
No. 44] NEW DELHI, MONDAY, SEPTEMBER 3, 1973/BHADRA 12, 1895
Separate paging is given to this Part in order that it may be filed as a separate compilation.
MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department) New Delhi, the 3rd September, 1973/Bhadra 12, 1895 (Saka) The following Acts of Parliament received the assent of the President on the 1st September, 1973, and are hereby published for general informa- tion: —
THE AGRICULTURAL REFINANCE CORPORATION (AMENDMENT) ACT, 1973 No. 37 of' 1973
[1st September, 1973]
An Act further to amend the Agricultural Refinance Corporation
Act, 1963
BE it enacted by Parliament in the Twenty-fourth Year of the Republic of India as follows: —
1. This Act may be called the Agricultural Refinance Corporation
Short title.
Amendment) Act, 1973.
10 of 1963.
Amend- ment of section 22, 2. In section 22 of the Agricultural Refinance Corporation Act, 1963, for sub-section (4), the following sub-sections shall be substituted, namely: —
"(4) No accommodation shall be granted under clause (a), clause (b) or clause (d) of sub-section (3) to an eligible institution unless it is fully and unconditionally guaranteed by Government as to the repayment of' principal and payment of interest:
Provided that no such guarantee shall be required in cases in which—•
(i) security, to the satisfaction of the Board, is' furnished by the eligible institution, or
( 507 )
508 THE GAZETTE UF INDIA EXTRAORDINARY [PART II—(ii) the Board, for reasons to be recorded by it in writing,
decides that no such security or guarantee is necessary.
Provided further that any sums received by an eligible institu- tion in repayment or realisation of loans and advances refinanced either wholly or partly by the Corporation shall, to the extent of the accommodation granted by the Corporation remaining out- standing, be deemed to have be?n received by the eligible institu- tion in trust for the Corporation, and shall accordingly be paid by such eligible institution to the Corporation:
Provided also that in cases where accommodation has been granted to an eligible institution without obtaining such guarantee or security, all securities held, or which may be held, by such eligible institution, on account of any transaction in respect of which such accommodation has been granted by the Corporation, shall be held by such eligible institution in trust lor the Corporation.
(4A) Nothing contained in the second proviso to sub-st-ction (4) shall apply to any accommodation granted by the Corporation before the commencement of the Agricultural Refinance Corporation (Amendment) Act, 1973, to an eligible institution which was not a scheduled bank on the date on which such accommodation was granted.".
SEC, 1] THE GAZETTE OF INDIA EXTRAORDINARY 509THE APPROPRIATION (RAILWAYS) NO. 3 ACT, 1973
No. 38 OF 1973
[1st September, 1973]
An Acr to authorise payment and appropriation of certain furthe: sums from and out of the Consolidated Fund of India for the services of the financial year 1972-73 for the purposes of Railways.
BE it enacted by Parliament in the Twenty-fourth Year of the Republic
of India as follows:—
1. This Act may be called the Appropriation (Railways) No. 3 Act
1973. '
,
Short title.
2. From and out of the Consolidated Fund of India there may be paic and applied sums not exceeding those specified in column 3 of the Sche- dule amounting in the aggregate to the sum of eighteen thousand rupees towards defraying the several charges which will come in course of pay- ment during the financial year 1973-74, in respect of the services relating to Railways specified in column 2 of the Schedule.
Issue of Rs. 18,000 out of the Consoli- dated Fund of India for the finan- cial year 1973-74.
Appro- priation.
3. The sums authorised to be paid and applied from and out of the Consolidated Fund of India by this Act shall be appropriated for the services and purposes expressed in the Schedule in relation to the said year.
510 THE GAZETTE OF INDIA EXTRAORDINARY [PAUT I I-THE SCHEDULE
(See sections 2 and 3)
2
I
3
Sums not exceeding
Services and purposes
Total
Voted by Parliament
Of Vote
Charged on the Consolidated Fund
Rs.
Rs,
Rs.
Mi /.elJaneous Hxpendi'ure
6,ooo
2
6,000
H Co itru -lion of New Li.ie.s—Capital a • J Deprccmiio i Reserve Fu'id .
7,000
7^000
15
Open Line Works—CapkaL, Deprc- Liatio l Reserve Fund and Deve- lopment Fu::d . . • •
5,000
5 ,ooo
TOTAL .
18,ooo
18,ooo
SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 511THE PAYMENT OF BONUS (AMENDMENT) ACT, 1973
No. 39 OF 1973
[1st September, 1973]
An Act further to amend the Payment of Bonus Act, 1965.
BE it enacted by Parliament in the Twenty-fourth Year of the Republic of India as follows: —
1. This Act may be called the Payment of Bonus (Amendment) Act, 1973.
Short title.
21 of 1965. 2. In section 10 of the Payment of Bonus Act, 1965 (hereinafter refer- red to as the principal Act), after sub-section (2), the following sub- section shall be inserted, namely:—
Amend- ment of section 10.
"(3) The provisions of sub-section (2) shall apply in relation to the payment of minimum bonus by every employer to every employee in respect of the accounting year commencing on any day in the year 1972 as they apply in relation to the payment of minimum bonus in respect of the accounting year commencing on any day in the year 1971 and accordingly for the purposes of such application, the refer- ence to 'the accounting year commencing on any day in the year 1971', or any reference to 'that accounting year', in that sub-section shall be construed as a reference to 'the accounting year commencing on any day in the year 1972'.".
Amend- ment of section 13, 3- In section 13 of the principal Act, in the proviso, for the words and figures "in respect of the accounting year commencing on any day in the year 1971", the words and figures "in respect of the accounting year corn-
5i2 THE GAZETTE OF INDIA EXTRAORDINABY [PART II—SEC. 1]mencing on any day in the year 1971 and in respect of the accounting year commencing on any day in the year 1972" shall be substituted.
4. In section 19 of the principal Act, after sub-section (7), the following sub-section shall be inserted, namely: —
Amend- ment of jection 10.
" (8) The provisions of sub-sections (2) to (7) (both inclusive) shall apply in relation to the percentage of the salary or wage of an employee payable (in cash or, as the case may be, partly by remittance for crediting in his provident fund account and partly in cash) by way of bonus under this Act (including section 34) in the account- ing year commencing on any day in the year 1972 as they apply in relation to the percentage of the salary or wage of an employee payable as aforesaid by way of bonus under this Act (including section 34) in the accounting year commencing on any day in the year 1971 and accordingly for the purposes of such application—
(i) any reference to 'the accounting year commencing on any day in the year 1971' in sub-sections (2), (3) and (4), shall be construed as a reference to 'the accounting year commencing on any day in the year 1972'; and
(ii) the reference to 'sub-section (2) of section 10* in sub- section (4), shall be construed as a reference to 'sub-section (3), of section 10'.".
K. K. SUNDARAM,