For ensuring that the actions approved by the board are in the interest of the company, the companies act, 1956, incorporates several statutory prescriptions. An act to consolidate and amend the law relating to companies and certain other associations. Section 295 of company law deals with the loan given to directors of the company. Companies act 2014, section 285 irish statute book. This an act to consolidate and amend the law relating to companies. Please refer to schedule 5 of the new companies act, no.
Companies act 2006, section 285 is up to date with all changes known to be in force on or before 24 april 2020. Companies act, 1963, section 285 irish statute book. There are changes that may be brought into force at a future date. Settlement of list of contributories and application of assets. Annual statement under section 285 of the incometax act, 1961 number if allotted 5 tax identification no. Companies act 1956 complete act citation 51006 bare act. Recently, the supreme court of singapore had to examine the ambit and scope of section 285 of the companies act in relation to the production of documents andor examination of witnesses of an overseas branch of a foreign bank registered in singapore.
Companies act 1956 section 227 citation 11158 bare act. Section 278 exclusion of certain directorships for the purposes of sections 275, 276 and 277. 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. Please read section 60b of the companies act, 1956 100%.
Section 285 of companies act 1956, states that board meeting must be held once in 3 months and 4 times a year. Provisions related to producer companies under companies act, 1956 part ixa of companies act, 1956 part ixa of the companies act, 1956 is not repealed and even though the companies act, 20 is made fully operative, the provisions of this part relating to producer companies, will continue to be operative as part of the. Chapter xix revival and rehabilitation of sick companies. Companies act, 1956 1 of 1956 so repealed under section 465 of this. Virtual legal assistant, query alert service and an adfree experience. Corresponds to section 426, 467 of the companies act, 1956 1 as soon as may be after the passing of a winding up order by the tribunal, the tribunal shall settle a list of contributories, cause. Please clear me that these three months are according to calender year, finacial year or any 12 month period.
Annual general meeting means a general meeting of the members held in accordance with the provisions of section. 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. Section 285 of companies act 1956 states that board meeting must be held once in 3 months and 4 times a year please clear me that these three months are according to calender year finacial year or any 12 month period because nothing is stated in study material regading this corporate law meetings. According to section 285 of the companies act, the board meetings should be held every three months. This section gives central government, the power to grant the license directing that such an association may be registered as a company with limited liability, without the addition of the words limited or private limited to its name. Companies act 1956 section 285 judgments legalcrystal. Companies act 1985, section 285 is up to date with all changes known to be in force on or before 11 april 2020. Provisions related to producer companies under companies. The companies act, 20 ministry of corporate affairs. Section 25 companies in the companies act, 1956 advisory. Introductionwhat is company a company is an artificial person created by law. Companies disqualification of directors under section 2741g of the companies act, 1956 rules, 2003 view download. Download the complete list of all sections of companies act 20 in pdf format. Companies issue of share capital with differential voting rights rules, 2001 view download.
The companies act 1956 is administered by the government of india through the ministry of corporate affairs and the offices of registrar of companies, official liquidators, public trustee, company law board, director of inspection, etc. An international banking corporation may, with the approval of the office pursuant to s. Chapter xxi part i companies authorised to register under this act. An accounting record required to be kept by section 281 or information or a return referred to in section 283 2 shall be preserved by the company concerned for a period of at least 6 years after the end of the financial year containing the latest date to which the record, information or return relates. Section 285 companies act 1956 corporate law forum.
Investigation under companies act 1956 section 21216. As per section 295 of companies act 1956, previous approval of central government is required, if any company directly or indirectly1. Be it enacted by parliament in the sixth year of the republic of india as follows 1. Duties of directors in connexion with sales or purchases of the companys securities 153. In the case of every company, a meeting of its board of directors shall be held at least once in every 3 three months and atleast four such meetings shall be held in every year. Updated notes on section 212 of the companies act 20. 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. The karnataka high court has observed in karnataka bank ltd. With the help of the statement the tax authorities. Application of act to existing companies and savings. The pdf file you are about to download is not created by writinglaw. Part iv shares, debentures and charges sections 43. For the purposes of this section, the word bank shall have the meaning given in s.
Any investigation or other action taken or initiated by sfio under the provisions of the companies act, 1956 shall continue to be proceeded with under that act as if ca 20 had not been passed. Settlement of list of contributories and application of assets effective from 15th december, 20161 as soon as may be after the passing of a winding up order by the tribunal, the tribunal shall settle a list of contributories, cause rectification of register of members in all cases where rectification is required in pursuance of this act and shall cause the assets of the. Full text containing the act, companies act, 1956, with all the sections, schedules, short. Any person summoned for examination under part ix or under section 285 or 286 may, at his own cost, employ a solicitor who shall be at liberty to put to him such questions as the inspector, court or district judge considers just for the purpose of enabling him to explain or qualify any answers given by him. Section 31i of the companies act, 1956 defines a company as. Section 276 choice to be made by director of more than fifteen companies at commencement of act. Compliance of provision of the companies act, 1956 and rules made there under. In the case of private limited companies the matters of further issue are normally protected by appropriate clauses in the articles of association aoa, as section 81 is not applicable to private limited companies. Section 285 settlement of list of contributories and application of assets. Depreciation for the purpose of declaration of dividend under section 205 in case of companies referred to in section 616 c of the companies act, 1956 the act. You can view a specific section, or view all sections grouped by chapters. Registrar and offices for registration of companies.
The companies act, 20 rules on the companies act, 20 this feature allows you to view the companies act, 20 sectionwise or chapterwise. Section 281 is applicable to cases where the amount of tax or other sum payable or likely to be payable exceeds five thousand rupees and the assets charged or transferred exceed ten thousand rupees in. Section 263a sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. Let us see in each detail, all the aspects of this section. Companies act, 1882 6 of 1882, or in table a in the first schedule annexed to the indian. These sections are updated and extracted from the ebook on the companies act 20 by aubsp. Prohibition of loans by companies to directors 152. It also covers the security or guarantee provided for the same. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Be it enacted by parliament in the sixth year of the republic of india as follows. Section 285 of companies act, 20 settlement of list of. Chapter xviii removal of names of companies from the register of companies. Similarly, another type of company incorporated under the companies act, 1956 is section 25 companies. Datar 1994 79 comp cas 12 kar that section 284 is an independent provision and the procedure prescribed for removing a director cannot be subordinated to the provisions of section 188.
Definitions of company, existing company, private company and public company 4. Companies act 20 companies act 1956 quick referencer. Complete list of sections of companies act, 20 corporate. Section285 board to meet at least once in every three calender months. Because nothing is stated in study material regading this.
Board to meet at least once in every three calendar months. Pdf companies act 1956 and 20 pdf download, high quality. Full text containing the act, companies act, 1956, with all the sections. As we know that the companies act, 20 has now replaced the decades old companies act, 1956 which was amended tons of time. Companies declaration of beneficial interest in shares rules, 1975 view download. Companies act, 1956 bare acts law library advocatekhoj. Section 277 choice by person becoming director of more than fifteen companies after commencement of act. You can also search for keywords within the sections of the act.
Recent decision on section 285 of the companies act keywords. Changes that have been made appear in the content and are referenced with annotations. Please read section 60b of the companies act, 1956 100% book built issue risk in relation to the first issue this being the first public issue of equity shares of our company, there has been no formal market for the equity shares of our company. This section is more restrictive than that of old companies act, 1956. Various companies have been incorporated under the companies act, 1956. Part iii constitution of companies division 1 incorporation section 14. A company means a group of persons associated together for the attainment of a common end, social or economic. Recent decision on section 285 of the companies act. Receipt from any person of an amount aggregating to rs.
Companies act 20 1956 with all latest amendments included. Annual statement under section 285 of the incometax act 1961. If you agree then only proceed to download companies act 20 pdf. Section 285 in the companies act, 1956 indian kanoon. Section 185 of companies act, 20 loan to directors.
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