Lawzonline.com 
 
Home|Discussion Forum|Communities|Professional Search|Law Dictionary|Bare Acts|Law Schools|State Bare Acts|Free Judgement Search|Law quotes
Articles  |    Humor    |    Law Digest
 
Bare acts search
Bare acts > Land Ports Authority of India Act, 2010 > Section 22
 
 
  

22. Allocation of surplus funds. - (1) The Authority may, from time to time, set apart such amounts as it thinks fit, as a reserve fund or funds for the purpose of expanding existing facilities or services or creating new facilities or services at any integrated check post or increase of expenditure from transient causes or for purposes of replacement or meeting expenditure arising from loss or damage due to any natural calamity or accident or meeting any liability arising out of any act of omission or commission in the discharge of its functions under this Act:


Provided that the Authority shall also have the power to establish specific reserves for specific purposes:


Provided further that the sums set apart annually in respect of each or any of the specific and general reserves and the aggregate at any time of such sums shall not exceed such limits as may, from time to time, be fixed in that behalf by the Central Government.


(2) After making provision for such reserve fund or funds and for bad and doubtful debts, depreciation in assets and all other matters which are usually provided for by companies registered and incorporated under the Companies Act, 1956, the Authority shall pay the balance of its annual net profits to the Central Government.

 

 
 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
 

 

Quick Links     
      
Family LawsInsurance LawsEnvironmental lawTax LawFDI 
Company LawTelecommunication LawLabour LawsCentral sectionsRBI 
Business & Commercial LawsConsumer lawsCorporate lawsCriminal lawsSEBI 
Intellectual Property lawMedia & Press lawsPharma & Medical lawsProperty lawFEMA 
Debt Recovery LawsAmendmentsProfessional lawBanking LawsLegal Links 
      
      


India No 1 Business Directory and Classified Portal

 
 
6. Vacation of office of members. - The Central Government shall remove a member if, he--


(a) becomes subject to any of the disqualifications mentioned in section 4:


Provided that no member shall be removed on the ground that he has become subject to the disqualification mentioned in clause (e) of that section, unless he has been given a reasonable opportunity of being heard in the matter; or


(b) refuses to act or becomes incapable of acting; or


(c) is, without obtaining leave of absence from the Authority, absent from three consecutive meetings of the Authority; or


(d) in the opinion of the Central Government, has so abused his position as to render his continuance in office detrimental to the public interest:


Provided that no member shall be removed under this clause unless he has been given a reasonable opportunity of being heard in the matter.

 
 
 
 
 

Lawzonline search:

 
 
   
   

Privacy PolicyDisclaimer

Copyright @2010