Foot Notes
1 available at- http://www.taxmann.com/taxmannFlashes/Articles/ flashart 22-1-11_2.html
2 ibid
3 ibid
4 ibid
5 available at- http://www.expressindia.com/news/fulstory.php?newsid=74010
6 The Government Savings Banks Act, 1873; Insurance Act, 1938; Co-operative Society Act, 2001,
7 supra
8 Bangladesh Constitution, Art. 2(A)
9 ibid
10 Please Visit- http://legaldevelopments.blogspot.com/2010/05/ nominees –and – legal-heirs-bombay-high. html
11 Please Visit- http:// perspectivesonlaw.blogspot.Com/2010/05/ nominee-vs-legal-heirs-24. html
12 Mohd. Ma’sum Billah “Effect of ‘Nomination in life policy’ Insurance Vs. Takaful Practices”, Through Google Search
13 Please Visit- http://www.taxmann.com/taxmannFlashers/Articles/ Flashart 22-1-11_2. html
14 Please Visit-http://groups.yahoo.com/group/discussing–religion/ message /30942
15 Harmony July 2010 available athttp://www.harmonyindia.org/hportal/VirtualPageView.Jsp? Page_id=13396
16 Oxford Advanced Learner’s Dictionary, New 7th Ed.
17 Garner, Bryan A. (ed.), Black’s Law Dictionary, 8th Edition (2004), p. 1076.
18 http://dictionary.reference.com/browse/nominee accessed on 27.07.2011.
19 Ibid
20 http://sawaal.ibibo.com/law/what-meaning-nominee-600002.html
21 http://www.businessdictionary.com/definition/nominee.html
22 http://sawaal.ibibo.com/law/what-meaning-nominee-600002.html
23 It was issued on 10th April 1971 that says ‘….all laws that were in force in Bangladesh on 25th March, 1971 shall subject to the proclamation aforesaid continue to be so in force with such consequential changes as may be necessary on account of the creation of the sovereign independent state of Bangladesh formed by the will of the people of Bagladesh.’
24 Government Savings Banks Act, 1873; Act No. V of 1973, s- 4(1)
25 ibid, s- 4(2)
26 ibid, s- 4(3)
27 ibid, s- 4(4)
28 By interviewing the bankers, the researcher has come to know that there is no specific form of alteration of the nominee’s name except the account open form. If any accountholder wants to alter the nominee’s name, he/she has to apply in the hand written application to the authority.
29 ibid, s- 4(5)(a)
30 ibid, s- 4(5)(b)
31 ibid, s- 4(5)(c)
32 ibid, s- 4(5)
33 see appendix 1
34 see appendix 2
35 see appendix 3
36 see appendix 4
37 Act No. XIII of 2010
38 see appendix 5(a)
39 The Insurance Act 2010, s- 57(1)
40 ibid,
41 supra, s-57(2)
42 ibid, s-57(4)
43 ibid, s-57(3)
44 ibid, s-57(5)
45 ibid, s-57(6)
46 ibid, s-57(7)
47 Takaful means “guaranteeing each other” in Arabic, is an Islamic system of mutual insurance built around the concept of donation. Each participant contributes to a fund to cover expected claims, while also benefiting from a share of investment returns.
48 see appendix 5(b)
49 see appendix 5(c)
50 ibid, 5(d)
51 ibid, 5(e)
52 ibid, 5(f)
53 Ibid, 5(g)
54 Ibid, 5(h)
55 (Act No. XXVI of 1973)
56 The Rajshahi University Act, 1973, s.56; First Schedule- 18;
57 ibid, 18(1);
58 see appendix 6(a)(b)(c)
59 supra, first schedule, 18(12);
60 ibid, 18(14);
61 ibid 18(15);
62 ibid 18(16)
63 In the Rajshahi University Act, 1973, in the constitution of a family of a subscriber the term husband is not included. It proves that there exists only male subscriber. But is it true? There, female employees are available, in case of them to constitute a family, is husband not necessary?
64 supra, 18(13)
65 ibid, 18(17)
66 ibid, 18(18)
67 ibid, 19(a)
68 ibid, 19(b)
69 ibid, 19(c)
70 President’s Order No. 11 of 1973,
71 The Dhaka University Order, 1973,
72 ibid, first schedule, 24
73 The Provident Funds Act, 1925, (ACT NO. XIX OF 1925); s- 2(e)
74 ibid, s. 5
75 Act No. XLVII of 2011
76 Co-operative Societies Act 2001, s- 40
77 Billah, Mohd. Masum. “Effect of Nomination in life policy’ Insurance Vs. Takafal Practices”
www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic…
78 The Insurance Act (India) 1938, s. 39(1)
79 ibid, s.39(6)
80 Nominee vs. Legal heir, May 24, 2010,
at http://perspective sonlaw.blogspot.com/2010/05/nominee-vs-legal-heirs_24.htmls
81 ibid
82 ibid
83 The Government Savings Banks Act, 1873 of India is as similar as that of Bangladesh. Though the law is same but through the case law India developed the idea but Bangladesh is in zero.
84 ibid
85 ibid
86 AIR 2007 Cal 79, ibid
87 Harsha Nitin Kokate Vs. The Saraswat Co-op. Bank Limited & Others, Ibid
88 2.3.2. This topic is totally based on Mohd. Masum Billah, “Effect of Nomination in life policy’ Insurance vs. Takafal Practices” available atwww.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic…last visited on 07.07.2011
89Meghna Life Insurance Co. Ltd., Prospectus and Premium List, Islamic Insurance (Takaful) Division, P.7
90 Mohd. Masum Billah, Effect of Nomination in life policy’ Insurance Vs. Takafal Practices,www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic…
91 ibid
92 Al-Quran, Surah al-Muminun 23:8. ibid, (The Illustrious Qur’an, Abdullah Yusuf Ali.)
93 Al-Quran, Surah al Nisa 4:6. ibid
94 Al-Quran, Surah al Anfal 8: 27. ibid
95 Al-Quran, Surah al Nisa 4:58. ibid
96 Al-Quran, Surah an Nisa 4:107. ibid
97 Al-Quran, Surah al Hajj 22:38. ibid
98 Al-Quran, Surah al Anfal 8:58. ibid
99 Mohd. Masum Billah, supra
100 ibid
101 [1935] AIR 73 (Sind). ibid
102 [1949] AIR 38 (Sind). ibid
103 Mohd. Masum Billah, supra
104 [1970] PLD 613 (Karachi). ibid
105 1974, PLD 185 (S.C.), ibid
106 ibid
107 ibid
108 Oxford Advanced Learner’s Dictionary, New U.K. Edition-2002-2003,
109 Gupta, Dinesh, “Nominee & Legal Heir”. 21 December 2010, [net]
110 At http://www.mumbaipropertyexchange.com/news/newsdetail.aspx?id=1013 accessed on 20.07.2011
111 Garner, Bryan A. (ed.), Black’s Law Dictionary, 8th Edition (2004), p. 740.
112 Rutherford, Leslie. & Bone, (ed.) Osborn’s Concise Law Dictionary, 8thEdition, 1993, New Delhi, p. 163
113 At http://legal-dictionary.thefreedictionary.com/heir, accessed on 20.07.2011
114 ibid
115 ibid
116 Kashi Prasad Saksena, ‘Muslim Law as Administered in India & Pakistan’, p-868
117 Babu Ram Verma, Mohammedan Law in India & Pakistan, 4th ed. (1968/1974). p.428
118 Husband or wife is never excluded from the inheritance. So, this name is given by the author himself.
119 Ordinance No. VIII of 1961
120 It was issued on April 1971
121 Supra
122 Socialist and Communist State
123 Mufti Nazar Kaleem Qudsee Al-Qasmi, Common Shortcomings committed in Inheritance Meeras athttp://groups.yahoo.com/group/discussing_religion/message/30942 last visited on 30.08.2011
124 Government Savings Banks Act, 1873, s.4; the insurance Act, 2008, s.; the Cooperative Societies Act, 2001, s. 40
125 The Rajshahi University Act, 1973, First Schedule- 18; The Dhaka University Order, 1973, first schedule, 24
126 Chapter two, Supra
127 Supra
128 http://www.quran4u.com/Tafsir%20Ibn%20Kathir/004%20Nisa.htm
129 XXVI of 1937
130 Then a Judge of the Appellate Division, Later he was nominated Chief Justice of Bangladesh.
131 Hefzur Rahman Vs Shamsun Nahar Begum, 51 DLR (AD) 172
132 Kasim V Hanifa; the High Court of Karachi, Through Google search
133 1974 PLD 185 SC
134 Mohd. Masum Billah, supra
135 ibid
136 Illustrated in chapter two, sufra
137 supra
138 supra
139 Professor of Islamic Financial Regulations & Policies, University of Camden, USA
140 supra
141 ibid
142 ibid
143 ibid
144 www.akwl.org/…/spouse%20and%20law%20of%20nomination.doc.doc
145 ibid
146 ibid
147 ibid
148 Sarbati Devi vs. Usha Devi (AIR 1984, SC-346), ibid
149 at http://perspective sonlaw.blogspot.com/2010/05/nominee-vs-legal-heirs_24.htmls
150 www.elitepro.in….365-nominee-of-shares-superior-to-legal-heirs-
151 http://www.lawyersclubindia.com/articles/Rights-of-nominee-vis-vis-legal-heirs–1528.asp
152 Rumsey, The Mahommedan Law of Inheritance, 3rd impression, 1959, Lahore, preface, p.1
http://groups.yahoo.com/group/discussing_religion/message/30942
153 The Rajshahi University Act, 1973, 1st schedule 18(18)
154 http://vridhi.co.in/2011/07/11/where-theres-a-will-theres-a-way/
155 The Government Savings Banks Act, 1873 (Act No. V of 1873); the Insurance Act, 2010; (Act No. XIII of 2010); the Co-operative Society Act, 2001; (Act No. XLVII of 2001); the Post Office National Saving Certificates Ordinance, 1944; (Ordinance No. XLII of 1944)
156 ACT NO. XIX OF 1925, s.5
157 Act No. XIII of 2010, s.57(6)
158 http://www.indiankanoon.org/doc/311517/
159 www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic
160 http://www.moneylife.in/article/8/5297.html
161 http://www.expressindia.com/news/fullstory.php?newsid=74010
162 Through interviewing the various officers of the insurance company and bank,
163 http://www.hinduonnet.com/2000/09/04/stories/05041307.htm
164 Infra
165 http://www.jagoinvestor.com/2010/10/will-your-nominee-get-the-money-on-your-death.html
166 http://www.jagoinvestor.com/2010/10/will-your-nominee-get-the-money-on-your-death.htmlhttp://www.lawyersclubindia.com/articles/Nominee-means-What-Legality-Very-Important–3594.asp
167 http://www.rediff.com/getahead/2005/jul/12nom.htm, accessed on 23.07.2011
168 ibid
169 http://en.wikipedia.org/wiki/Christian_Law_of_Succession_in_India
170 As the Succession Act 1925 of Bangladesh and the Succession Act 1925 of India is same so the same idea will be applied in Bangladesh.
171 http://www.islamic-world.net/islamic-state/malay_islambank.htm
172www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic
173 Act No. V of 1873
174 The Provident Fund Act, 1925
175 Ordinance No. XLII of 1944
176 Act No. XLVII of 2001
177www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic
178 Mohd. Ma’sum Billah “Effect of ‘Nomination in life policy’ Insurance Vs. Takaful Practices”, Through Google Search.
179 Please Visit- http://www.business-standard.com/india/news/ nominee-versus-legal-heir/394633/
180 http://www.expressindia.com/news/fullstory.php?newsid=74010
181 http://in.answers.yahoo.com/question/index?qid=20090725131257AAS9bHx
182 http://www.outlookmoney.com/article.aspx?90040
183 http://i-bankaccount.com/facts-on-savings-accounts/
184 All the Acts contain such type of provision.
185 http://in.answers.yahoo.com/question/index?qid=20090725131257AAS9bHx
186 Any book on Muslim Law
187 Absolute trust and faith in the Almighty Allah was substituted for Secularism by the Proclamations (Amendment) Order, 1977, and art. 8(1A) was inserted as a new one by the same order. In 2011 these are repealed by the Constitution (Amendment) Act, 2011.
188 XXVI of 1937
189 51 DLR (AD) 172,
190 Al-Quran, 4:14, http://www.quran4u.com/Tafsir%20Ibn%20Kathir/004%20Nisa.htm
191 Ibid
Glossary
Al- Hedaya | – a book of Muslim sharia law compiled by Al-Murghinani |
Al- Mirath | – Arabic term of inheritance |
Ashaba | – residuary |
Bonafide- | – real not false |
Fara’id | – Arabic term of inheritance |
Hanafi law | – a principle of Sunni law |
Hiba | – Arabic term of gift |
Hiba-bil-Awaz | – Arabic term meaning of which is a gift for a consideration |
Injunction | – order |
Sahriah | – the set of canonical laws of Islam |
Shia law | – a sect of Muslims who admit Hazrat Ali (AR) is only khalif/imam of Muslims after Hazrat Muhammad (s.w.m.) |
Sirajiyyah | – the book of inheritence |
Sunni law | – a sect of Muslims who admit Hazrat Muhammad (s.w.m.) is the last prophet and who support the election method of determining the Khalifa(imam/leader) |
Surut hal | – a technical word used in law meaning of which the condition of the body |
Takaful | – Islamic insurance system |
Viz. | – used to introduce a list of things that explain something more clearly or are given as example |
Wasiyah | – Arabic term of will |
Zavaul-ul-arham | – distant kindred |
Zavaul-ul-furuz | – Qur’anic sharers/ fixed sharers |
Bibliography
Act:
The Government Savings Banks Act, 1873; (Act No. V of 1973)
Bangladesh Constitution, 1972
The Insurance Act 2010(Act No. XIII of 2010)
The Rajshahi University Act, 1973(Act No. XXVI of 1973)
The Dhaka University Order, 1973, (President’s Order No. 11 of 1973)
The Provident Funds Act, 1925, (Act NO. XIX of 1925)
The Post Office National Saving Certificates Ordinance, 1944, (Ordinance No. XLII of 1944)
Co-operative Societies Act 2001(Act No. XLVII of 2001)
Muslim Family Laws Ordinance, 1961, (Ordinance No. VIII of 1961)
The Muslim Personal Law (Shariat) Application Act, 1937 (Act No. XXVI of 1937)
Laws Continuance Enforcement Order, 1971 (issued on 10th April 1971)
The Insurance Act (India) 1938
Civil Law Act (Malaysia) 1956
The Married Women’s Property Act (UK) 1882
Bombay Co-operative Society Act (India) 1927
Insurance Act (Malaysia) 1996
Books:
Oxford Advanced Learner’s Dictionary, New 7th Ed. (2007)
Garner, Bryan A. (ed.), Black’s Law Dictionary, 8th Edition (2004)
Meghna Life Insurance Co. Ltd. Prospectus and Premium List, Islamic Insurance (Takaful) Division
The Al-Quran
Rutherford, Leslie. & Bone, (ed.) Osborn’s Concise Law Dictionary, 8th Edition, 1993, New Delhi
Saksena, Kashi Prasad. ‘Muslim Law as Administered in India & Pakistan’, India, p-868
Verma, Babu Ram. Mohammedan Law in India & Pakistan, 4th ed. (1968/1974), India, p.428
Articles:
Billah, Mohd. Ma’sum, Effect of ‘Nomination in life policy’ Insurance vs. Takaful Practices,
(at www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic..accessed on05.07.2011)
Nominee vs. Legal heir, May 24, 2010, (at http://perspective sonlaw.blogspot.com/2010/05/nominee-vs-legal-heirs_24.htmls accessed on 05.07.2011)
Gupta, Dinesh, “Nominee & Legal Heir”. 21 December 2010, (online, accessed on 05.07.2011)
Al-Qasmi, Mufti Nazar Kaleem Qudsee, Common Shortcomings committed in Inheritance Meeras,
(at http://groups.yahoo.com/group/discussing_religion/message/30942accessed on 07.07.2011)
Internet Address:
http://www.taxmann.com/taxmannFlashes/Articles/ flashart 22-1-11_2.htmlaccessed on 04.7.2011
http://www.expressindia.com/news/fulstory.php?newsid=74010 accessed on 04.7.2011
http://legaldevelopments.blogspot.com/2010/05/ nominees–an –legal-heirs-bombay-high.html accessed on 20.07.2011
http:// perspectivesonlaw.blogspot.Com/2010/05/ nominee-vs-legal-heirs-24 htmlaccessed on 04.7.2011
http://groups.yahoo.com/group/discussing–religion/ message /30942 accessed on04.7.2011
http://www.harmonyindia.org/hportal/VirtualPageView.Jsp? Page_id=13396.
http://dictionary.reference.com/browse/nominee accessed on 27.07.2011.
http://sawaal.ibibo.com/law/what-meaning-nominee-600002.html
http://www.businessdictionary.com/definition/nominee.html
http://sawaal.ibibo.com/law/what-meaning-nominee-600002.html
http://www.mumbaipropertyexchange.com/news/newsdetail.aspx?id=1013accessed on 20.07.2011
http://legal-dictionary.thefreedictionary.com/heir, accessed on 20.07.2011
http://www.quran4u.com/Tafsir%20Ibn%20Kathir/004%20Nisa.htm accessed on 04.7.2011
www.akwl.org/…/spouse%20and%20law%20of%20nomination.doc.doc15.07.2011
http://perspective sonlaw.blogspot.com/2010/05/nominee-vs-legal-heirs_24.htmls
www.elitepro.in….365-nominee-of-shares-superior-to-legal-heirs- 21.07.2011
http://www.lawyersclubindia.com/articles/Rights-of-nominee-vis-vis-legal-heirs–1528.asp
http://vridhi.co.in/2011/07/11/where-theres-a-will-theres-a-way/
http://www.indiankanoon.org/doc/311517/
www.takaful.coop/…/Effect%20of%20Nomination%20in%20Life%20Polic
http://www.moneylife.in/article/8/5297.html
http://www.hinduonnet.com/2000/09/04/stories/05041307.htm
http://www.jagoinvestor.com/2010/10/will-your-nominee-get-the-money-on-your-death.html
http://www.lawyersclubindia.com/articles/Nominee-means-What-Legality-Very-Important–3594.asp
http://www.rediff.com/getahead/2005/jul/12nom.htm, accessed on 23.07.2011
http://en.wikipedia.org/wiki/Christian_Law_of_Succession_in_India
http://www.islamic-world.net/islamic-state/malay_islambank.htm
http://www.business-standard.com/india/news/ nominee-versus-legal-heir/394633/
http://in.answers.yahoo.com/question/index?qid=20090725131257AAS9bHx
http://www.outlookmoney.com/article.aspx?90040
http://i-bankaccount.com/facts-on-savings-accounts/
Case List
Harsha Nitin Kokate Vs. The Saraswat Co-op. Bank Limited & Others, athttp://perspective sonlaw.blogspot.com/2010/05/nominee-vs-legal-heirs_24.htmls
Nur Muhammad vs. Mst. Sardar Khatun, [1949] AIR 38 (Sind)
Hedayatullah vs. Mst. Rahiman, [1935] AIR 73 (Sind)
Karim vs. Hanifa [1970] PLD 613 (Karachi)
Amtul Habi vs. Musarrat Parveen, [1974], PLD 185 (S.C.),
Hefzur Rahman Vs Shamsun Nahar Begum, 51 DLR (AD) 172
Amatol Habi vs Musarrat Parveen, [1974] PLD 185 SC
Atmaram Mohanlal Panchal v. Gunavantiben
Sarbati Devi Vs. Usha Devi (AIR 1984, SC-346)
Shipra Sengupta vs. Mridul Sengupta & Othershttp://www.lawyersclubindia.com/articles/Rights-of-nominee-vis-vis-legal-heirs–1528.asp
Re Engelbach’s State, Libbetts v. Engelbach
Cathe’s v Commissioner of Stamp Duties
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