Karnataka Motor Vehicles Taxation and Other Law (Amendment) Act, 2002*
| [Karnataka Act No. 12 of 2002] | [23rd August, 2002] |
An Act further to amend the Karnataka Motor Vehicles Taxation Act, 1957 and the Karnataka Stamp Act, 1957.
Whereas it is expedient further to amend the Karnataka Motor Vehicles Taxation Act, 1957 (Karnataka Act 35 of 1957) and the Karnataka Stamp Act, 1957. (Karnataka Act 34 of 1957) for the purposes hereinafter appearing.
Be it enacted by the Karnataka State Legislature in the fifty third year of the Republic of India, as follows:-
* Received the assent of the Governor on the 23rd day of August, 2002 and First published in the Karnataka Gazette Extra-ordinary on the 23rd day of August, 2002
STATEMENT OF OBJECTS AND REASONS
To give effect to the announcement made in the Budget Speech it is proposed to amend the Motor Vehicles Tax Act, 1957 and the Karnataka Stamp Act, 1957.
Hence the Bill.
(L.A. Bill No. 25 of 2002)
1. Short title and commencement.- (1) This Act may be called the Karnataka Motor Vehicles Taxation and Other Law (Amendment) Act, 2002.
(2) It shall be deemed to have come into force on the First day of April, 2002.
2. Amendment of the Karnataka Motor Vehicles Taxation Act, 1957.- In the Karnataka Motor Vehicles Taxation Act, 1957 (Karnataka Act 35 of 1957), in section 3A in sub-section (1) for the words "for the purpose of equity investment in the infrastructure Development Corporation (Karnataka) Limited and", the words "for the purpose of various infrastructure projects across the State and for the purpose of equity investment in the" shall be substituted.
3. Amendment of the Karnataka Stamp Act, 1957.- In the Karnataka Stamp Act, 1957. (Karnataka Act 34 of 1957), in section 3B in sub-section (1) for the words "for the purpose of equity investment in the infrastructure Development Corporation (Karnataka) Limited and", the words "for the purpose of various infrastructure projects across the State and for the purpose of equity investment in the" shall be substituted.