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( viii) Payment and Settlement Systems Act, 2007 (Section 253 and 9th Schedule). ( vii) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Section 251 and 7th Schedule). ( vi) Finance Act, 1994 (Section 250 and 6th Schedule). ( v) Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (Section 249 and 5th Schedule have not yet come into effect). ( iv) Customs Act, 1962 (Section 248 and 4th Schedule). ( iii) Income Tax Act, 1961 (Section 247 and 3rd Schedule). ( ii) Central Excise Act, 1944 (Section 246 and 2nd Schedule). ( i) Partnership Act, 1932 (Section 245 and 1st Schedule have not yet come into effect). Reference may be made by company to National Company Law Tribunal within 180 days from commencement of IBC]. 1-12-2016 and consequently Board for Industrial and Financial Reconstruction and Appellate Authority for Industrial and Financial Reconstruction are dissolved. 1-12-2016, any reference made or enquiry pending before the Board or before the appellate authority under SICA shall stand abated. ( ii) By Section 4( b) of Sick Industrial Companies Act (Special Provisions) (SICA) Repeal Act, 2003 as amended by Section 252 of Insolvency and Bankruptcy Code, 2016 read with 8th Schedule thereto, notified w.e.f.
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(Section 243 has not yet come into effect.)
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( i) Presidency-Towns Insolvency Act, 1909 and Provincial Insolvency Act, 1920 are repealed -Section 243. The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 have come into effect from 1-12-2016. Some provisions are yet to come into effect. “Portion of the 1995-1996 fiscal tax revenue base attributable to the affected tax.The Code has come into effect in phases from 5-8-2016 to 15-12-2016. “1995-1996 fiscal tax revenue base.” The receipts from affected taxes from the fiscal year 1995-1996, such amount being $984,141,837. “Gross receipts.” The gross receipts from the retail sales of electric energy as defined in section 1101(b) of the Tax Reform Code of 1971. “Fiscal year.” A year beginning on July 1 and ending on the subsequent June 30. “Effective rate.” The tax rate applicable during the fiscal year or, if more than one rate is applicable, the average of the rates that were in effect for each month of the fiscal year. “Department.” The Department of Revenue of the Commonwealth. “Base fiscal year.” The year beginning on July 1, 1995, and ending on June 30, 1996. 2), known as the Tax Reform Code of 1971. “Affected taxes.” The taxes imposed under Articles II, IV, VI and XI and section 2301(f) of the act of Ma(P.L. (n) Definitions.-As used in this section, the following words and phrases shall have the meanings given to them in this subsection: Retail sales of generation shall be deemed to occur at the meter of the retail consumer.
#Public utilities code section 2016 license
The phrases “doing business in this Commonwealth” and “engaged in electric light and power business, waterpower business and hydroelectric business in this Commonwealth,” as such terms are used in section 1101(b) of the Tax Reform Code of 1971 and in this chapter, shall be construed to include the direct or indirect engaging in, transacting or conducting of activity in this Commonwealth for the purpose of establishing or maintaining a market for the sales of electric energy and include obtaining a license or certification from the commission to supply electric energy. (j) Sales of electric energy.-Retail sales of electric generation, transmission, distribution or supply of electric energy, dispatching services, customer services, competitive transition charges, intangible transition charges and universal service and energy conservation charges and such other retail sales in this Commonwealth the receipts of which, if bundled, would have been deemed to be sales of electric energy prior to the effective date of this chapter shall be deemed sales of electric energy for purposes of section 1101 of the Tax Reform Code of 1971.
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