Companies act, 1956 bare acts law library advocatekhoj. Company auditors and liquidators to be approved by minister charged with responsibility for finance. Share capital to stand increased where an order is made under section 814. Share premium received from the foreign holding companies.
Application to regional director for conversion of section 8 company into company of any other kind. Provision as to memorandum and articles of companies limited by guarantee. Companies act with its variations is a stock short title used for legislation in botswana, hong kong, india, malaysia, new zealand, south africa and the united kingdom in relation to company law. Section 78 in the companies act, 1956 indian kanoon. Application of premiums received on issue of shares. Laws of brunei chapter 39 companies act enactment no.
The pdf file you are about to download is not created by writinglaw. Companies act 71 of 2008 english text signed by the president assented to. Companies act 20 vs companies act 1956 the companies act, 20 has been passed by lok sabha as well as rajya sabha and the president has given his consent to the same in august 20. Companies act companies act an act to amend and consolidate the law relating to companies be it enacted by the parliament of the democratic socialist republic of sri lanka as follows. The companies act, 20 was passed by lok sabha on the 18th of december 2012 and passed by the rajya sabha on 8th august 20 and is all set to replace the 57 year old companies act, 1956.
The companies act, 1956 document delivered for registration by a foreign company. General law amendment act 50 of 1956 english text signed by the governorgeneral as amended by prisons act 8 of 1959 supreme court act 59 of 1959 general law amendment act 80 of 1964 general law amendment act 70 of 1968. Arrangement of sections section part i preliminary 1. Section 264 consent of candidate for directorship to be filed with the company and consent to act as director to be filed with the registrar. The debt under section 433 of the companies act must be a determined or a definite sum of money payable immediately or at a future date. General provisions with respect to memorandum and articles. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may notify in the. Companies arrangement of sections section preliminary 1. Moneys and securities paid into bank to be subject to order of court.
The 20 act lays down a similar requirement in section 52 as that of the section 78 of the 1956 act in respect of application of premiums. According of sec 78 of the companies act 1956,the securities premium may be applied only for the purpose. Part ixa of companies act, 1956 income tax department. A significant change from the previous act of 1973 arises in section 45 relating to financial assistance. Trevor manuel the then minister of finance raised concern regarding intragroup company loans without. According to sec 1, a company formed and registered under the act. Where a company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount or value of the premiums on those shares shall be transferred to an account, to be called the share premium account. Short title, commencement and extent 1 this act may be called the companies act, 1956. Be it enacted by parliament in the sixtyfourth year of the republic of india as follows. Pdf companies act 1956 and 20 pdf download, high quality. Table containing provisions of companies act, 20 as notified up to date and corresponding provisions thereof under companies act, 1956. See gazette of india, extraordinary, 1956, part ii, section 3, p.
Bse is a public limited company incorporated under the provisions of the indian companies act, 1956 companies act, 1956 and licensed under the provisions of securities contracts. Application for registration of charge effective from 1st april, 2014 where a company fails to 1 register the charge within the period of thirty days referred to in sub section 1 of section 77, without prejudice to its liability in respect of any offence under this chapter, the person in whose favour the charge is. Full text containing the act, companies act, 1956, with all the sections, schedules, short title, enactment date, and footnotes. The bill for an act with this short title will usually have been known as a companies bill during its passage through parliament. If you agree then only proceed to download companies act 20 pdf. Section 263a sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. Act, 1960, choose not more than two of those companies as companies in which he wishes to continue to hold the office of managing director or manager, as the case may be. As to memorandum and articles of companies limited by guarantee. Be it enacted by parliament in the sixth year of the republic of india as follows.
This an act to consolidate and amend the law relating to companies. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Section 2 94 of the companies act, 20 defines wholetime director as a director in the wholetime employment of the company. The advantages of section 25 companies over other companies registered under companies act are discussed below. The companies act, 1956 existing act contains 658 sections and xv schedules. Manager section 253 of the companies act, 20 defines manager as an individual who, subject to the superintendence, control and direction of the board of directors, has the management of the whole, or. Intimation to registrar of revocation surrender of license issued under section 8. Dissolution of companies and removal from register 83.
Amends section 219 of the companies act 46 of 1926. Construction of references in other acts to companies registered under the companies consolidation act, 1908. Table containing provisions of companies act, 20 as notified up to 28. Act, 20 thought it fit to bring out this ready referencer on companies act, 20, as a self learning aid to understand the basic tenets of the new act. An act to consolidate and amend the law relating to companies. This is a ready reckoner for the information of stakeholders. Companies 1 laws of malaysia reprint act 125 companies act 1965 incorporating all amendments up to 1 january 2006.
Sec 78 application of premiums received on issue of securities 1 where a company issues securities at a premium, whether for cash or otherwise, a sum equal to the aggregate amount or value of the premiums on those securities shall be transferred to an account, to be called the securities premium account. Corporation act, 1956 31 of 1956 v the unit trust of india, established under section 3 of the unit trust of india act, 1963 52 of. A determination of examination of the companys insolvency may be a useful aid in 4 air 1971 sc 2600, 1971 3 scc 632 5 1993 78. The companies act financial assistance background the companies act 71 of 2008 the act came into effect on 1 may 2011. According to sec 3 of the act, on incorporation a company becomes a body corporate or a corporation with a perpetual succession and a common seal. Modified application with respect to stateowned companies. Section 25 companies under companies act 1956 legal. Different provisions of the companies amendment act, 2017 including any amendments, references in any provisions there in, shall come into force on such date or dates as the central government may, by notification in the official gazette appoints. Indian companies act 1956 authorstream presentation. Certificate of commencement of business by depositories. Section 3application of act 1 except where otherwise provided, the provisions of this code shall apply to all companies formed in ghana, whether before or after the commencement of this code, under the provisions of the companies ordinance, cap.