Section 14 in The Building and Other Construction Workers Welfare Cess Act, 1996

Title: Power to make rules

Description: (1) The Central Government may, by notification in the Official Gazette, make rules for carrying out the provisions of this Act. (2) Without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-- (a) the manner in which and the time within which the cess shall be collected under sub-section (2) of section 3; (b) the rate or rates of advance cess leviable under sub-section (4) of section 3; (c) the particulars of the returns to be furnished, the officer or authority to whom or to which such returns shall be furnished and the manner and time of furnishing such returns under sub-section (1) of section 4; (d) the powers which may be exercised by the officer or authority under section 7; (e) the authority which may impose penalty under section 9; (f) the authority to which an appeal may be filed under sub-section (1) of section 11 and the time within which and the form and manner in which such appeal may be filed; (g) the fees which shall accompany an appeal under sub-section (2) of section 11; and (h) any other matter which has to be, or may be, prescribed. (3) 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 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.

Title: Repeal and saving

Description: (1) The Building and Other Construction Workers' Welfare Cess Third Ordinance, 1996 (Ord. 26 of 1996), is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.

Title: Short title, extent and commencement

Description: (1) This Act may be called the Depositories Act, 1996. (2) It extends to the whole of India. (3) It shall be deemed to have come into force on the 20th day of September, 1995.

Title: Definitions

Description: (1) In this Act, unless the context otherwise requires,-- (a) "beneficial owner" means a person whose name is recorded as such with a depository; (b) "Board" means the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (c) "bye-laws" means bye-laws made by a depository under section 26; (d) "Company Law Board" means the Board of Company Law Administration constituted under section 10E of the Companies Act, 1956 (1 of 1956); (e) "depository" means a company formed and registered under the Companies Act, 1956 (1 of 1956) and which has been granted a certificate of registration under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (f) "issuer" means any person making an issue of securities; (g) "participant" means a person registered as such under sub-section (1A) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992); (h) "prescribed" means prescribed by rules made under this Act; (i) "record" includes the records maintained in the form of books or stored in a computer or in such other form as may be determined by regulations; (j) "registered owner" means a depository whose name is entered as such in the register of the issuer; (k) "regulations" means the regulations made by the Board; 1[(ka) "Securities Appellate Tribunal" means a Securities Appellate Tribunal established under sub-section (1) of section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992);] (l) "security" means such security as may be specified by the Board; (m) "service" means any service connected with recording of allotment of securities or transfer of ownership of securities in the record of a depository. (2) Words and expressions used herein and not defined but defined in the Companies Act, 1956 (1 of 1956) or the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Securities and Exchange Board of India Act, 1992 (15 of 1992), shall have the meanings respectively assigned to them in those Acts. 1. Ins. by Act 32 of 1999, s. 13 (w.e.f. 16-12-1999).

Title: Certificate of commencement of business by depositories

Description: (1) No depository shall act as a depository unless it obtains a certificate of commencement of business from the Board. (2) A certificate granted under sub-section (1) shall be in such form as may be specified by the regulations. (3) The Board shall not grant it certificate under sub-section (1) unless it is satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions: Provided that no certificate shall be refused under this section unless the depository concerned has been given a reasonable opportunity of being heard.

The Building and Other Construction Workers Welfare Cess Act, 1996