Section 47 of the Banking Act typically refers to, depending on the jurisdiction, strict bank secrecy laws or specific regulatory procedures. Most notably, it refers to:
Section 47 of the Act provides that customer information shall not, in any way, be disclosed by a bank (holding a valid banking licence in Singapore or the branches and offices located within Singapore of such a bank incorporated outside Singapore) or its officers to any other person except as expressly provided in the ...
(1) The Reserve Bank of India (RBI) has the authority to fine a bank if it breaks the rules specified in certain parts of section 46. The fines can be: (a) Up to 20 lakh rupees for each violation, and if the bank keeps breaking the rule, an additional 50 thousand rupees for each day the offense continues.
If you're dissatisfied with the decision of the District Commission on this matter, you can appeal to the State Commission under Section 47(1)(a)(iii). If there is a dispute within the State Commission regarding the decision for your case, the majority's opinion will prevail as per Section 47(3).
47 Local authority's duty to investigate.
(2)Where a local authority have obtained an emergency protection order with respect to a child, they shall make, or cause to be made, such enquiries as they consider necessary to enable them to decide what action they should take to safeguard or promote the child's welfare.
A Section 47 Enquiry is initiated to decide whether, and what type of, action is required to safeguard and promote the welfare of a child who is suspected of, or likely to be, suffering significant harm.
Section 47 OAPA 1861 – maximum 5 years' imprisonment
This offence (section 47 OAPA 1861) is committed when a person intentionally or recklessly assaults another, thereby causing actual bodily harm (ABH). Harm need not be permanent but must be more than transient and trifling: R v Donovan [1934] 2 KB 498.
Section 47 of the Income Tax Act is a necessary provision that exempts certain transactions from being classified as transfers. This is important as under the Act, any profit or gain arising from transferring a capital asset shall be chargeable to capital gains tax.
Article 47 explicitly directs the State to raise the level of nutrition and improve public health as a primary duty. While this article is part of the DPSPs and is not justiciable, it sets a guiding principle for the formulation of public policies.
Section 47: Liability that cannot be excluded or restricted
A trader can exclude or restrict their liability arising under section 46 (remedy for damage to device or to other digital content) to the extent that any limitation or exclusion is fair.
by the Reserve Bank in this behalf it is satisfied that it is expedient so to do, may by notification in the Official Gazette suspend for such period, not exceeding sixty days, as may be specified in the notification, the operation of all or any of the provisions of this Act, either generally or in relation to any ...
Section 47 of the Code of Civil Procedure (CPC) is all about the ticking clock and the importance of adhering to time limits when it comes to executing decrees. It lays down the law regarding the maximum period within which a decree can be enforced.
Responsibilities for financial stability are shared across four main agencies in Australia – the RBA, the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), and the Treasury.
The Office of the Comptroller of the Currency (OCC) is an independent bureau of the U.S. Department of the Treasury. The OCC charters, regulates, and supervises all national banks, federal savings associations, and federal branches and agencies of foreign banks.
The truth is, yes, they can. No matter where you open your personal or corporate bank account (in Singapore, Hong Kong, Canada, the U.S). Frozen accounts are more common than you think.
It is a complicated field, and the numbers of law students opting for this specialization are understandably lower than in other areas. Less competition means more work and more money for you. Banking institutions are also going to be around for a long time.
Title 47 of the United States Code defines the role and structure of the Federal Communications Commission, an independent agency of the United States government, and the National Telecommunications and Information Administration, part of the United States Department of Commerce.
The core aim of Article 47 of Indian Constitution is to ensure that the State actively advances public welfare by improving nutrition, raising living standards, and strengthening public health, while regulating the use of harmful substances.
Everyone is entitled to a fair and public hearing within a reasonable time by an independent and impartial tribunal previously established by law. Everyone shall have the possibility of being advised, defended and represented.
There are several ways to transfer property to a child tax-free, including leaving it in a will, gifting it using lifetime and annual exclusions, selling it, or placing it in an irrevocable trust.
California's litigation privilege (codified at Civil Code, section 47, subdivision(b)) gives a person absolute immunity (i.e., a complete defense) from liability for any “publication or broadcast” made as part of a “judicial proceeding.” It applies (and is a complete defense) to any such communication that the person ...
The "6-year rule" for Capital Gains Tax (CGT) in Australia allows you to treat a former main residence as tax-exempt for up to six years after you move out, even if you rent it out, enabling you to avoid CGT on any growth during that period. You qualify by moving out, choosing to treat it as your main home for tax, and can reset the rule by moving back in. If you rent it out for longer than six years, only the portion of the gain after the six-year mark becomes taxable.
47 Using etc explosive substance or corrosive fluid etc
with intent in any such case to burn maim disfigure disable, or do grievous bodily harm to, any person, shall, whether bodily injury is effected or not, be liable to imprisonment for 25 years.
⇒ The definition of an assault occasioning actual bodily harm (ABH): Actus Reus: the defendant must commit an assault or battery which causes the victim to suffer actual bodily harm. Mens Rea: the defendant must intend or be reckless as to the assault or battery.
47 Prohibition of the carrying of offensive weapons. S. (a)on summary conviction, to imprisonment for a term not exceeding six months or a fine not exceeding the statutory maximum, or both; (b)on conviction on indictment, to imprisonment for a term not exceeding [F25 ] years or a fine, or both.