1 The Dowry Prohibition Act, 1961 (Act No. 28 of 1961) with ...

Download PDF
2 downloads 119331 Views 208KB Size Report
Comment
(Maintenance of Lists of Presents to the Bride and Bridegroom) Rules, 1985. 1990. An Act to prohibit the giving or taking of dowry. Be it enacted by Parliament in ...
7KH'RZU\3URKLELWLRQ$FW $FW1RRI  ZLWK 0DLQWHQDQFHRI/LVWVRI3UHVHQWVWRWKH%ULGH DQG%ULGHJURRP 5XOHV    $Q$FWWRSURKLELWWKHJLYLQJRUWDNLQJRIGRZU\  %HLWHQDFWHGE\3DUOLDPHQWLQWKH7ZHOIWKRUDQ\WLPHDIWHUWKHPDUULDJHV@>LQFRQQHFWLRQZLWKWKHPDUULDJHRIVDLG SDUWLHVEXWGRHVQRWLQFOXGH@GRZHURUPDKULQWKHFDVHRISHUVRQVWRZKRPWKH0XVOLP 3HUVRQDO/DZ 6KDULDW DSSOLHV  >

@  1

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

2

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

6

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

 3HQDOW\ IRU GHPDQGLQJ GRZU\,I DQ\ SHUVRQ GHPDQGV GLUHFWO\ RU LQGLUHFWO\ IURP WKHSDUHQWVRUJXDUGLDQRIDEULGHRUEULGHJURRPRUIURPDQ\RWKHUSHUVRQDVWKHFDVH PD\ EH DQ\ GRZU\ KH VKDOO EH SXQLVKDEOH ZLWK LPSULVRQPHQW ZKLFK PD\ H[WHQG WR RQH\HDUDQGZLWKILQHZKLFKPD\H[WHQGWRILYHWKRXVDQGUXSHHV  ,QVHUWLRQRI6HFV$DQG%$IWHU6HFRIWKHSULQFLSDO$FWWKHIROORZLQJVHFWLRQV VKDOOEHLQVHUWHGQDPHO\  $%DURIFHUWDLQDFWV$Q\SHUVRQZKR  L

GLVSOD\VDQ\SUHVHQWVPDGHDWWKHWLPHRIPDUULDJHLQWKHIRUPRIFDVK RUQDPHQWVFORWKHVRURWKHUDUWLFOHVRU 

LL

JLYHVLQWKHIRUPRIVKDJXQDWWKHWLPHRIWKDNNDEHWURWKDORUWLNDDQ\WKLQJ WKHYDOXHRIZKLFKH[FHHGVHOHYHQUXSHHVRU 

LLL

JLYHVWRWKHSDUHQWVRUDQ\RWKHUUHODWLRQRIDSDUW\WRWKHPDUULDJHDQ\WKLQJ RQWKHRFFDVLRQRIPDQ\RUDQ\RWKHUFHUHPRQ\SHUIRUPHGLQUHODWLRQWR EHWURWKDORUPDUULDJH

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

VXEVWLWXWHGDQG  E WKHSURYLVRVKDOOEHRPLWWHG  ,QVHUWLRQRIQHZ6HFV$DQG%LQ&HQWUDO$FWRI$IWHU6HFRIWKHSULQFLSDO $FWWKHIROORZLQJVHFWLRQVVKDOOEHLQVHUWHGQDPHO\  $%DURIFHUWDLQDFWV$Q\SHUVRQZKR  L

GLVSOD\VDQ\SUHVHQWVPDGHDWWKHWLPHRIVXFKPDUULDJHLQWKHIRUPRIFDVK RUQDPHQWVFORWKHVRURWKHUDUWLFOHVRU 

LL

WDNHVLQDPDUULDJHSDUW\PRUHWKDQWZHQW\ILYHSHUVRQVH[FOXVLYHRIPLQRUV DQGWKHPHPEHUVRIWKHEDQGRU 

LLL

JLYHVLQWKHIRUPRIVKRJXQDWWKHWLPHRIWKDNDEHWURWKDORUPDUULDJH DQ\WKLQJWKHYDOXHRIZKLFKH[FHHGVHOHYHQUXSHHVRU 

LY

JLYHVWRWKHSDUHQWVRUDQ\ RWKHUUHODWLRQRIDSDUW\WRWKHPDUULDJHDQ\WKLQJ RQWKHRFFDVLRQRIPDQ\RUDQ\RWKHUFHUHPRQ\SHUIRUPHGLQUHODWLRQWR EHWURWKDORUPDUULDJHRU 

Y

VHUYHVWRWKHPDUULDJHSDUW\PRUHWKDQWZRSULQFLSDOPHDOVVKDOOEH SXQLVKDEOHZLWKLPSULVRQPHQWIRUDWHUPZKLFKPD\H[WHQGWRVL[PRQWKVRU ZLWKILQHZKLFKPD\H[WHQGWRILYHWKRXVDQGUXSHHVRUZLWKERWK

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

17

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

18

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

 @1RWZLWKVWDQGLQJDQ\WKLQJFRQWDLQHGLQWKH&RGHRI&ULPLQDO 3URFHGXUH RI QR&RXUWLQIHULRUWRWKDWRID-XGLFLDO0DJLVWUDWHRIWKHILUVW FODVVVKDOOWU\RIIHQFHXQGHUWKLV$FW  >

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

21

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

EHIRUH WKH H[SLU\ RI WKH VHVVLRQ LPPHGLDWHO\ IROORZLQJ WKH VHVVLRQ RU WKH VXFFHVVLYH VHVVLRQV DIRUHVDLG ERWK +RXVHV DJUHH LQ PDNLQJ DQ\ PRGLILFDWLRQ LQ WKH UXOH RU ERWK +RXVHVDJUHHWKDWWKHUXOHVKRXOGQRWEHPDGHWKHUXOHVKDOOWKHUHDIWHUKDYHHIIHFWRQO\ LQVXFKPRGLILHGIRUPRUEHRIQRHIIHFWDVWKHFDVHPD\EHVRKRZHYHUWKDWDQ\VXFK PRGLILFDWLRQ RU DQQXOPHQW VKDOO EH ZLWKRXW SUHMXFLGH WR WKH YDOLGLW\ RI DQ\WKLQJ SUHYLRXVO\GRQHXQGHUWKDWUXOH  6WDWH$PHQGPHQW  +LPDFKDO 3UDGHVK$PHQGPHQW RI 6HF ,Q 6HF  RI WKH SULQFLSDO $FW  D DIWHUWKHZRUGV 7KH&HQWUDO*RYHUQPHQW RFFXUULQJLQVXEVHFWLRQ O WKHZRUGVRU WKH6WDWH*RYHUQPHQWZLWKWKHSULRUDSSURYDORIWKHWKH &HQWUDO*RYHUQPHQW VKDOOEH LQVHUWHG  E LQVXEVHFWLRQ  DIWHUWKHZRUGV HYHU\UXOHPDGH DQGEHIRUHWKHZRRUGVXQGHU WKLVVHFWLRQWKHZRUGV E\7KH&HQWUDO*RYHUQPHQW VKDOOEHLQVHUWHG  F DIWHUVXEVHFWLRQ  WKHIROORZLQJVXEVHFWLRQ  VKDOOEHDGGHGQDPHO\    (YHU\UXOHPDGHE\WKH6WDWH*RYHUQPHQWXQGHUWKLVVHFWLRQVKDOOEHODLGDVVRRQ DV PD\ EH DIWHU LW LV PDGH EHIRUH 6WDWH /HJLVODWXUH ZKLOH LW LV LQ VHVVLRQ IRU D WRWDO SHULRG RI QRW OHVV WKDQ VHYHQ GD\V ZKLFK PD\ EH FRPSULVHG LQ RQH VHVVLRQ RU LQ WZR VXFFHVVLYHVHVVLRQVDQGLIEHIRUHWKHH[SUL\RIWKHVHVVLRQLQZKLFKLWLVVRODLGRUWKH VHVVLRQ ,PPHGLDWHO\IROORZLQJ WKH /HJLVODWXUH UHTXHVW DQ\PRGLILFDWLRQLQWKHUXOHRU GHVLUHV WKDW WKH UXOH VKRXOG QRW EH PDGH WKH UXOH VKDOO WKHUHDIWHU KDYH HIIHFW RQO\ LQ VXFK PRGLILHG IRUPRUEH RI QR HIIHFW DVWKH FDVH PD\EH VRKRZHYHUWKDW DQ\VXFK PRGLILFDWLRQ RU DQQXOPHQW VKDOO EH ZLWKRXW SUHMXGLFH WR WKH YDOLGLW\ RI DQ\WKLQJ SUHYLRXVO\GRQHXQGHUWKDWUXOH  3XQMDE$PHQGPHQW RI 6HF  RI WKH &HQWUDO $FW  RI ,Q 6HF  RI WKH SULQFLSDO $FW  L

LQVXEVHFWLRQ  DIWHUWKHZRUGV&HQWUDO*RYHUQPHQWWKHZRUGV RUWKH 6WDWH*RYHUQPHQW VKDOOEHLQVHUWHG 

25

LL

LQVXEVHFWLRQ  DIWHUWKHZRUGVHYHU\UXOHPDGHWKHZRUGVE\WKH &HQWUDO*RYHUQPHQWVKDOOKHLQVHUWHGDQG 

LLL

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

&RPPHQW  7KLV VHFWLRQ HPSRZHUV WKH 6WDWH *RYHUQPHQW WR PDNH UXOHV IRU FDUU\LQJ RXW WKH SXUSRVHV RI WKLV $FW 6XEVHFWLRQ   PDNHV SURYLVLRQV IRU OD\LQJ WKH UXOH EHIRUH WKH 6WDWH/HJLVODWXUH  7+( '2:5