4 The Bar Councils (Validation of State Laws) Act, 1956. 425 .... (Amendment) Act
, 1956 rh&J-e&g 1032 k m e Young Persons (Harmful Publications) Act, 1956.
i CONT~NTS No, of Act I 2
page
Short title
.
. . .
The Companies Act, 1956 • T h e Representation of the People (Amendment) Act, '
-
3 4 5 6
CK4-J
.
428 429 429 430 438 438 446 448 450 452 453
. .
r-454
. , .
F
408 416 425 426
.
The University Grants Commission Act, 1956 The Bar Councils (Validation of State Laws) Act, 1956 The Appropriation Act, 1956 . The V o l u a t a r y of ~ Salaries (Exenlption from Jp-'( Taxation) Amendment Act, 1956 7 The Sales-Tax Laws Validation Act, 1956 8 T-ontinuqce of Control) mendment Act, 1956cW-1 . g The,Life Insurance (Emergency Provisions) Act, 1956 10 The Control of Shipping (Continuance) Act, 1956 . 11 The Appropriation (Vote on Account) Act, 1956 ~2 The Appropriation (Railways) Act, 1956 13 The Appropriation (Railways) No. 2 Act, 1956 14 The Appropriation (Railways) No. 3 Act, 1956 15 The Appropriation (Railways) No. 4 Act, 1956 . 16 The Appropriation (Railways) No. 5 Act, 1956 . 17 The Indian Registration &xndment) Act, I956 18 The Finance Act, 1956 . 19 T h e Appropriation (No. 2)Act, 1956 20 T h e Travancore-Cochin Appropriation (Vote on Account) Act, 1956 2 1 T h e St. John Ambulance Association (India) Transfer of Funds Act, 1956 22 T h e Indian Red Cross Societv (Amendment) A C ~ , 23 T h e Travancore-Cochin Appropriation Act, 1956 24 The Parliamentary Proceedings (Protection of Publication) Act, 1956 . 25 The All-IndiaYInsititute of Medical Sciences Act, 1956 26 The Indian Income-tax (Amendment) Act, 1956 27 'The.Representation of the People (Second Amendment) . Act, 1956 28 The,Agric,ultural Produce (Development a@ Warehousing) Corporations Act, 1956 29 The Travycore-Cochin State Legislature (Delegation of Powers) Act, 1956
.
.
I
.
.
496
c##? 501
504 505
516 517
. .
547
.
1512
574
M of Law-i
-- -
-
-
- --
--
-
-
-
.
--.-
Z
493
.
.
1
455 485
.
.
1
-
a-.
- -
.
.
43 TheAppropriation (No. 3) Act, 1956 . 44 he Appropriation (No. 4) Act, 1956 . 45 The Newgpaper (Price and Page) Act, 1956 46 The Travancore-Cochin rapri ria ti on (No. '
.' 2) Act,
The Lok Sahayak Sena Act, 1956 . 54 The Indian Post Office(Amendment) ~ c t j . 1 ~ 5 ' 6
.- "53
*c
5
:
56 The State Financial Corporations (Amendment) Act, 7 1956%.C W - 3 . 57 T h e Public Debt (Amendment) Act, 1956
:
.
812
.
Contents No of Act
ii i
:
Short title
Page
C
62 The Jammu and Kashmir (Extension of Laws) Act, - ? 1956 . 63 The Scheduled Castes and Scheduled Tfibes Orders (Amendment) Act, 1956 . 64 The Indian Tariff (Amendment) Act, 1956 65 The Abducted Persons (Recovery and Restoration) Continuance Act, 1956 . 66 The Code of Civil Procedure (Amendment) Act, 1956 67 ' The States Reorganisation (Amendment) Act, 1956 . 68 The Union Territories (Laws) Amendment Act, 1956 69 The Terminal Tax on Railway Passengers Act, 1956 . 70 The Ancient and Historical Monuments and Archaeolo-
843
.
[v-J
*
854 894 896 897 902
[K~M 90.5
gical Sites and Remains (Declaration of National -1g~or-tance) Amendment Act, 1956
74 The central ~ a l e Tax s Act, 1956 . of Powers) 75 The eral la State Legislaturez-. .
.
.
,:x:,7*
.
--,,
-:,. ...;..... .?.~..
..
-.::..
. ,
:?p-?z7?73~ .,.#*
*&L&.:$p2,
Year No. of of Act Act
C
. .
Table showing effect of ~ a r l i a r n e n t &legislation ~
vi
No. and s e c t 3 of 1956Act by which affected
How aKect.e*l
Short title of Act
1908 16 Indian Registration S. 2 amended
: r7, s."2. Act. 1911 2 Indian Patents and Ss. I, 2 and 80 62,s. 2 and Sch. Designs Act. amended. 1913 7, Indian , Companies Repealed I, s. 644 and Act. Sch. XII. 1914 2 Destructive Insects Ss. I, 2 and 5A 62,s. 2 and Sch. and Pests Act. amended. I S. qc omitted. Ibid. 1914 3 1ndian Copyright Ss. I and 2 amended. 62,s. 2 and Sch. Act. 1920 15 Indian Red Cross Ss. I,5,8,9,11 and 22, SS. 2 to 7. Society Act. 12 amended. S. 13 inserted 22,s. 8. Schedules substituted Ibid.,s. 9. I922 11 Indian Income-tax Ss. 2,'4, 7,8,10,12, ~ 8 , ss. 3 to Lg, 21 Act. 14,:15, ISC,1617, to 27-
b
. .
k
I
. .
1,.
i b
I 1
I
23, 23A, 24, 28, 34, 35, 38, 49B, , 58, 58F, 58K and 59 amended.
! i
1
SS. 2, 10, 17, 23A 773 Ss. 2, 3, 5 to and 24 amended 7. S. I ~ substituted B Ibid.,s. 4. 18,s. 20. S. 37 substituted. S. 5(7-A)-Expla26, s. 2. nation inserted (with retrospective effect). 1923 14 Indian Cotton Cess Ss. I and 3 amended 62,s. 2 and Sch Act. S. 2 amended (when 50,s. 2. notified). 'S. 4substituted (when Ibid.,s. 3. notified). I n sections 6,7;9 Ibid.,S. 4, and 10,the word o occupier" substituted for "owner", (when notified). 1925 4 Indian soldiers S. I amended 62,S. 2 and Sch. , (Litigation) Act. 1929 2 Hindu Law of In- Repealed 30,s. 31. &; heritance (Am-.endment)xAct.
i F
k
k
1
.
W'L
, .. - + -
,
-
-
,.
--.-A ,.
\
-..-x.
"
..,- ---
---.
i-
- .
-:----:
.*,-
--~"
-&*%
-="
%ibte showing eBect o i ~ a ~ l i a m e n t a ?ZegisZation g
.
j
,
vii
6
"
Y..
No. and .section of 1,956Act by . which affected. .
.
1
3
\
,
viii . ..^
Fable shoioing eflect of Par2iamentury tegkhtiolz *
Year No. of of Act Act
Short title of Act
HOWaffected
.t
No. and section of 1956 Act by which affected.
....-.-. a938
--
4 fnsurafice Act
\
t939
4
Motor vehicles Act
Throughout the Act, 62, s. the word "India" substituted for "the States" and "the States of India". Ss. 1, a and I 14' am- Ibid. ended.
2
and Sch.
SS.233,697, 8,9,11, 12, I , 14915, 16, 17, I , 19, 20, 21, 100, SS. 2 to 6, 8, 10 22,23,24,25,26, to 17, 19 to 21, 28,295 31,332 34, 23 to 27, 29 to 35, 38, 39, 41, 42, 31, 33 to 38, 41, 43>44>47, 49, 50, 43,44,46,47,51, 529 53, 57, 58360, 52,54 to 56, 58, 62, 63, 64, 67, 68, 60, 61, 63 to 74, 71, 72, 73, 74, 75, 76 to 79, 81, 83, 86, 88, 91, 92, 93, 85986,889 89991, 94, 95, 96, 102, 92 and 94 to 96. 106,108, I I I, 112, 114) 115, 121, 122, 124, 125,129, 129A and 130 amended. Ss. 8A, 21A, 21Bj I b i d . , ~ ~7,. 18~22, ~ I C , ID, ~ I E , 53,57,59,62,75, 2rF, 21G, 21H, 82, 87 and93. 211, ~ I J , 24 A, 59A, 63A, 63B, 63C, 644, 68A, 68B, 68C, 68D, 68E, 68F, 68G, 68H, 681, [95#, IIIA, I I ~ Arand 127A inserted. 'Ss. 10,32,36,37,45, Ibid., ss. 9, 28, 32, 46,489 51, 54,/55, 39, 40, 42, 45, 56, 110, 113, 123 48 to 50, 80, 84, and 134 substitu90 and 97. ted. First and Fourth Ibid., ss. 98 and 99. Schedules amended. SixthandEighth Sche- Ibid., ss. IOO and dules substituted. 102. Seventh Schedule Ibid., s. 101. omitted. C
1
Table showing e$ect of Parliamentary legistation
Year No. of Act
of Act
ShorttitleofAct
ix
NO. and skction of 1956 Act by which affected
Howaffected
g Standards of Weight Will be repealed 89, s. I8 (I). Act. when Act 89 of 1956 comes into force. I940 5 Trade Marks Act Ss. I and 2 amended 62, s. 2 and Sch. I940 27 Agricultural Produce Ss. I and 3 amended 62, s. 2 and Sch. Cess Act. I942 6 Multi-unit Co-opera- S. I amended 34, s. 2. tive Societies Act. Ss. 5A and 5B inserted 37, s. ray, ~ g q q I Central Excises S. 3A inserted . 81, s. 2. and Salt Act. Ss. 6 and 8 ameqded 18, ss. 33 and 34 First Schedule ibid., s. 35. amended. 58, s. 2. 76, s. 3. Second Schedule 18, s. 36. substituted. 1948, 10 Indian Coconut Ss. I and 3 amended 62, s. 2 and Sch. Committee Act. Ss. 2 and 4 amended 47, ss. 2 and 3. In ss. gA, 10, 11 12 Ibid.,s.4. and 13 the word "occupier" substituted for "owner". rgqq 18 Public Debt Act Long title and Pre- 57, s. 2. amble amended. SS. 1,2,3,8,13,14, Ibid., ss. 3 and 5 20, 23 and 28 amto 12. ended. Ss. IA and 30 insert- Ibid., ss. 4 and 14. ed. 1 S. 29 substituted . Ibid., s. 13. 1946 g Indian Oilseeds Ss. I and 3 amended 62, s. 2 and Sch. Committee Act. 1946 19 Hindu Married Repealed 78, S. 29. -Women's Right \ to Separate Residence and Maintenance A d . 1946 20 -Industrial Employ- Ss. 2, 4 and 10 am- 36, s. 32. merit (Standing ended. Orders) Act. . Ss. 13A and 13B Ibid inserted. 1512 M of Law.-R I939
.
.
.
I
I
I 1
i I
1
Table showing effect of Parli.amenta.rg legislntion
x Year No. of of Act Act
Short title of Act
1946 25 Delhi Special Police S. I amended Establishment Act. 1947
/
.
No. and section of 1956 Act by which aEected
How affected
.
62,
1947 1947
1947
1948 :g48
and Sch.
7 Foreign Exchange Ss. I and 2 amended 62, s. 2 and Sch. Regulation Act. , Tl~rougl~out the Act the word Ibid. "India" substituted for "the States". 14 Industrial Disputes Ss. I, 2, 10, 11, 12, 36, ss. 2, 3, 7 , g to 11, 13 to 18, 22, Act. 13, 18, 19, 20, 21, 24 af~d26. 23,24,33A, 36 and . 38 amended. S.25Camended . 41,s.2. Ss. 7, 8,9,15,16, 17, 36, ss. 4, 5, 12, 20, 17A, 29,. 33 and 21 and 27. 39 substituted. S. 25FF inserted 41, S. 3. Ss. 9A, 9B, IOA, 33B, 36, ss. 6, 8, 23, 33C, 36A and 40 25 and 28. inserted. S. 251, omitted . 36, s. 19. Schedule substituted Ibid., S. 29. 26 Control of Shipping S. I amended . 10, s. 2. Act. 29 Capital Issues (Con- Long title and 8, s. 2. tinuance of Control) Preamble amended. Act. . Ibid., s. 3. S. I amended 3 I Antiquities (Export Ss. I and 2 amended 63, s. 2 and Sch. Control) Act. ag ~ t o m i Energy c Act Ss. I and 15 amend- 62, s. 2 and Sch. ed. 54 Electricity (Sup- ss.1,2,5,10,15,16, 1 0 1 , s s . 2 t 0 ~ , 7 t s ply) Act. 23, 26, 28, 29, 55, 13, 15 to 17, 1 9 , 58, 60, 67, 75, 76 20 and 22. and 78 amended. Ss. IOA and 78A in- Ibid., ss. 6 and zg. serted. Ss. 57, 68, 69 and Ibid., ss. 14, 18 77 substituted. and 21. First, Third, Fifth, Ibid., ss. 24 to 29. Sixth, Seventh and Eighth Schedules amended, J
1947
S. 2
! \
i
44, 45,45AJ 493, 45E,45H, 45J, 4 5 K 45L, 45M and 4 5 0 amended. Ss. 10, 12 and 16 substituted. I
&
1949 46 Banlting Companies (Legal Practitioners' ClientsyAccounts) Act. 1949 65 Abducted Persons (Recovery and Restoration) Act. 1950 12 ~ m b l e h and s Names (Prevention of Improper Use) Act. rgjo 27 Public Premises (Eviction) Act.
Ss. 27, 36, 46, 49, 50 and 51 amended. Ss. 12A, 35A, 35B, and 46A mserted. S. 24 amended S. 39 amended .
.
S. 51 substituted S. I amended
92, ss.
2 - and
5.
Ibid., ss. 3 and 4, 18, S. 32. 62, s.
and Sch.
2
95, s. 14 andSch.
I
Ibid., ss. 2,3 and 5. Ibid., ss. 6, 8, g and I I to 13. Ibid., ss. 4, 7 and 10.
. .
38, s. 7. 79, s. 43 and Second Sch. Ibid. 62, S, 2 and Sch.
65, s.
S. I amended
.
.
S. I amended
.
.
62, S.
2.
2.
and Sch.
*%
Long title amended
52, s. 2.
Ss. I, 2 and 3 am- Ibid., ss. 3 to 5. ended. Ss. I and 2 amended 62, s. 2 and Sch. In ss. 4 and 10 the 52, s. 6. words "Public Premises" substituted for "Governrnent premises"~
, /
/
Cr t.
t
Year No. of of Act Act
Short title of Act
No. and section of 1956 Act by which affected
How affected
1950 30 Union Territories Ss. 3 and 4 amended 68, ss. 2 and 3. (Laws) Act. \ Schedule substituted Ibid., s. 4. 1950 31 Administration of Ss. 6, 8, 10, 11, 15, 91, ss. 2 to 7, g to 11 and 13. Evacuee Property 16, 24, 27, 28, 38, Act. 40, 51 and 56 amended. SS.25,26,29,30,31, Ibid.>S. 8. 33, 35, -42 and 55(2) omitted. S. 48 substituted . Ibid., s. 12.
1 k i
B
rgso 43 Representation of the People Act.
,
,
Ss.
9, 12, 13, 17, 27, 27A, 27B, 27C, 27H -and 28 amended.
ss. 2 , 6 to 8, 12, 14, 18 to 20, 23 and 24.
2,
2,
20,
Ss. 2, 13B,,Part 111 103, s. 65. heading, ss. 14 and 27A amended. Ss. 3A(2), 5, 8, 26, 27E and 27F omitted.
2, ss. 3 to 21 and 22.
5,
17,
SS. 13A, 13B, 13C, Ibid., S. 9. and 13D inserted. S. 13D substituted 10% s. 65.
C 1
1
1')
I
Part I I I heading, ss. 2, ss. 10, I I ~ 13~15, 14, 1g3 21 to 25, 16and25. Part IV heading and s. 29 substituted.
I I
Ss. 27B, 27C 27D omitted.
and
.
S.i4 inserted
i i t i
.\
.i
60~s.2. 72,
Fourth Schedule amended.
2,
A
-.I
9
:r
S. 2.
1-91
s. 26.
$
?i J
Sixth and Seventh Ibid., s. 27. Schedules omitted.
r"'
1
t
103~s.65.
S. 24 amended.
1950 48 Industrial Disputes Repealed (Appellate Tribunal)
.
,. 36, s.
-1
2
21*.'a
33.
-71
3
8 ,I
Act.
:q \
EL
i,
i
k*"
.
--
"
,.
t
2
7
Year No. of of Act Act
No. and section of 1956 Act by which affected
a
'Short title of Act
How affected
1950 61 Voluntary Surrender S. 3 inserted of Salaries (Exemption from Taxation) Act.
.
6, s.
rgjo 64 Road Transport' Cor- S. 47A inserted porations Act.
.
87, s. 2.
2.
~epresentationof the Long title amended People Act.
Ibid., ss. 3 to 6, 8,. Ss. 2, 7, 8, ~ p19,22, , 25, 26, 29, 32334, 10 to 13, 15, 17 to 3536, 373 42, 52, 20, 24, 29 t O 32, 533 54, 553 563 64, 343 36, 38 to 40, 683 69, 70, 79, 81, 43, 44, 51 to 56, 90, 97, 98, 99, TOO, 59, 61, 63, 67 to 101, 106, 111, 1x9, 70, 76, 77 and 79 ,126, 133, 134, 136, to 82. 148, 1-52>157, 158, 159 and 169 amended. Ss. 2, 1g,67A and 158 amended.
103, s. 66.
S. 7 amended.
88, s. 3.
.
i 1
SS. 12, 13, 14, 1.5, 27, SS. 7, 9, 14, 16, 16, 17, 18, 20,21, 21 to 23, 26 to 28, 30,33, 38, 39, 35, 41, 42, 45 to 4.546, 47, 58, 71, 50, 60, 65, 66, 71.. 72, 73, 74, 75, 76, 72 and 78; 77, 78, 82, 83, 84, 85,86, 89, 107, Part VII heading, 123, 124, 125, 140, I ~ o A , and 153 substituted. Ss- 43, 44, 104, 105, 27, ss. 25, 57, 58, 142, 143 and 146 a n d 7 3 t o 7 5 . omitted. ,
Ss. 55% 67A, I I ~ A , 27, ss. 33, 37, 62, 116B, I I ~ A and 64 and 72. 14oA inserted. Ss.
IO,II,
13, 72 103~s.66.
and ~ 4 ohitted. 8
/
Year No. of of Act Act
No. and section of 1956 Act by which affected
a
Short title of Act
How affected
'-,
1951 49 Government of Part C States Act.
Ss. 2 and 4 amended S. 6 omitted
.
Ibid.
.
S. 7 amended S. 8 omitted
27, s. 83.
.
Ibid.
First and Second ..,. Schedules omitted. Do. rgSI 52 Indian Companies (Amendment) Act.
Repealed Repealed
. .
s. 644 and Sch. XII.
I,
.
\ r : i
> 5 b
r i. L
i.
. I
t
kL
F
L
p !
i
1951 63 State Financial Cor- S. I amended 62, s. 2 and Sch. porations Act, SS.2,3,5,7, 10, 14, 56, SS. 2, 3, 5 to 16, 17, 18, 19,25, 27, 18 to 20, 22, 23 29~31,32, 33, 36, and 25. 37,38Y 39, and 48 amended. Ss. 3A, 32A, 32B, Ibid., ss. 4, 17, 21 g2C, 32D, 32E, and 24. . 32F, 37A, 4% and 46B inserted.
1951 65 Industries (Develop- Ss. 13, 14, 24, 2gB 71,,ss. ment and Regula- and go amended. tion) Act.
J
First Schedule subs- Ibid., s. 7. tituted. 1951 71 Ancient and Histori- Long title amen- 37, s. r26. cal Monuments and ded. Archaeological Sites and Remains (Declaration of National (Importance) Act. Schcdule amcndcd 1952 19 Employees' Provident Funds Act.
,t
to 6.
2
.
Ibid. 70, s. 2. 94, SS. 2 to 4 and 6.
SS. I, 2, 5, 8, 11, 12, 13, 15, 16, 17 and 19-A mended. S. g substituted. Ibid., s. 5.
1952 51 Indian Companies Repealed (Amendment) Act. '
.
. .
I,
s. 644 and Sch.
XII.
,
?
?able showing eflect of Parliamentary legislation
m+
,
#
Year No. of of Act '
Act
Short title of Act
No. and section of 1956 Act by which affected'
How affected
.
.
1952 52 Essential Goods Repealed (Declaration and Regulation of Tax on Sale or Purchase) Act. 1952 63 State Armed Police S. I amended Forces (Extension of Laws) Act. 1953 3 Univn Duties of S. 3 modified Excise (Distribution) Act. S. 3 A inserted 1953' 12 Khadi and Other Ss. I, 2 and Handloom Indus- amended. tries Development (Additional Excise Duty on Cloth) Act.
.
.
74, s. 16.
.
62,s. 2andSck.
.
37, s. 74(r) Fourth Sch.
.- 82, S. 3 62, s.
1933 49 Salt C e s H c t . Ss. I and 3 amended 1954 a7 Delivery of Books Long title amended (Public Libraries) , Act. Ss. I, 2 and 5 amended . S. 3A inserted S. 7 substituted .
62, s.
and
2. 2
and Sch.
2
and Sch.
99, s. 2. Ibid., Ss. 3, 4 and 6. Ibid., s. 5 . Ibid., s.-7. I
I934 44 Displaced Persons SS. 2, 11, 19 and 20 86, SS. 2 to 5. (Compensation and amended. Rehabilitation) Act. S. 2oA inserted . Ibid., s. 6 . S. 21 substituted . Ibid., s. 7. 1955 25 Hindu Marriage Act
S.
1955 53 Delhi (Control of S. Building Operations) Act. 1956
I
Companies Act
1956 30 Hindu Act.
.
10 amended I
amended
73, s. 2. 98, s.
Ss. I, 2, 3, 226, 558, 62, 565 and 582 amended.
Succession S. 30 (2) repealed
1956 37 States Reorganhation Act.
. .
.
2.
S. 2
and Sck,
78, s. 29. 1
S. 35 amended
.
67$S.
2.
Second Schedule bbid., 9 . 3. amended.
I
i
Year of Ordinance
I
1940 4 Currency Ordinance
I
6
No. of Short title of Ordinance Ordinance Ss.
No. and section of 1956 Act by , which affectea
How affected
I
and 2 amended 62, s. z and Sch.
.
Registration of Repealed Transferred Companies Ordinance,
I, s. 644 a n d Sch. XII.
Representation of Repealed the People (Amendment) Ordinance. Life Insurance Repealed (Emergency Provisions) Ordinance. Sales-tax Laws Vali- Repealed dat'ion Ordinance. Travancore - Cochin Repealed Appropriation (Vote on Account) Ordinance. State Bank of Repealed Hyderabad Ordinance.
.
1956
6 Administration of Repealed Evacuee Property (Amendment) Ordinance.
.
.
91, s. 16.
1956
7 Displaced Persons Repealed (Compensation and Rehabilitation) Amendment Ordinance.
.
.
86, s. 8.
1956 -
5
5
-
i
i
9
1956
8 Road Transport Cor-
P
1956
S.
46.
i;
1
-
.
#-
.
.
Repealed
porations (Amendment) Ordinance.
i
79,
87, s. 3.
, '
9 Representation of Repealed the People (Amendment) Ordinance.
_
.
.
72, s. 3. %
\
5
pw I I I I I I I -
P
-------
_-_ --
---,_------
-
, , d -
\-
,--
--
Table showing eflect of Parliamentary legislation
xvii
PAKT111.--CONSTITUTION OF INDIA,ORDERS UNDER THE CONSTITUTION OF INDIKAND ORDERS AMENDED OR OTHERWISE AFFECTED No. and section of 1956 Act by which affected
How affected
(A) Constitution of Inl'ia.
Articles I, 80, 131, 153, 158, 168, 171, Constitution (Seventh Amend ment) Act, ss. 2, 3, 5, 6 to 8, 216,217-and 222 a&ended. 10 to 12 and 14. Articles 269 and 286 amended
.
.
Constitution (Sixth Amendment) Act, ss. 3 and 4. .
Articles 3, 16, 31A, 58, 66, 72, .73, 101, Constitution (Seventh Amendment) Act; s. 29 and Sch. 112, 143, 151, Part VI- head~ng,152, 214~217,219~ 229, 241, 244, 246,254, 255,~267,268,269,270,280, 283,291, 2993,304, 308, 309, 310, 311, 315,3165 317,318, 3eo>323,324>330, 332, 333, 337,339, 341, 342, 348, 356,361, 362, 366,367 and 368 amended.
',
Articles 81, 82, 170, 220, 224, 230, 231, Ibid., ss. 4, g, 13, 15 to 17, 232, Part VIIf heading, 239, 240, and 22. 298 and 371 substituted.
.
A'rticle 264 substituted
Ibid., s. 29 and Sch.
20
-
Articles 238, 242, 2431,259, ,278, 306 and Ibid. 379 to 391 omitted. Articles 2588, 290A, 350A, 35oB, 372A Ibid., ss. 18, 19, 21, 23 and 24. and '378A inserted. First Schedule amended '
..
First Schedule substituted
.
Second Schedule amended
. .
Fourth Schedule amended
*
Constitution (Seventh Amendment) Act, s. 2.
.
Ibid., ss. 25 and 29 aild Sch.
.
Fourth Schedule substituted,
Seventh Schedule-Union inserted. I
Law-iii
.
List Entry g2A Constitution (Sixth -4mendment) Act, s. 2.
Seventh Schedule amended 1512 M Of
Constitution (Seventh Amendment) Act, s. 3. Ibid., s. 29 and Sch. '
Fifth and Sixth Schzdules am-nded
. -
..
.
'
,
Constitution ("eventh Amendme-nt) Act, ss 26- to 29 and Sch.
.
*
-
I
I
j i
-.
Table showing effect of Parliamentary legislation
xviii
i
.
-.
i
Year No. of ofOrder Order
!
, P
r
z
0rd&
No. and section of 1956 Act by which affected
How affected
.-
A
(B) Orders under the Constitution of India.
f
1950 19 Constitution (Sche- Amended ., . . duled Castes) Order. I950 22 Constitution ( ~ c h &Schedule amended duled Tribes) Order. I950 24 Constitution (Re- Paragraph 2 amended moval of Difficulties) Order (VIII).
k
1
-
\ i
5 "s
f,
--
t t
i.
k B
C i' $
2 O
x
i
a,r'
1951 32 Constitution (Sche- Amended . . . duled Castes) (Part C States) Ordsr. I951 33 Constitution (Sche- Scheduleamended . 63, s. 4(i) and duled Tribes) (Part Sch. IV. C States) Order. . 1953 46 ~9nstitutioi(Distri- Paragraphs 3 and 5 37, s. 74(1) and bution of-Revenues) modified. Fourth Sch. Order. (C) Order. of Table modified . 37, s. 35 (2) and 1951 . . Delimitation Council ConstituenSecond Sch. cies (Madras) Order. ---- -.--
f k t
PART IV.-STATE
ACTS REPE~LED, AMENDED- OR
OTHERWISE AFFECTED -
F
Year NO. of of Short title of Act Act Act
F t
r
56
-
$
e
.
i .
1954
C 1
--
ANDHRA Will be repealed when 89, s. 18(2). Act 89 of 1956 comes' I into force. 7 Indian Bar Councils Validated . 4, S. 2 aud Sch (Andhra Amend-ment) Act (Presi.lent's Act).
22
Madras Weights and Measures Act.
,5
1955: i
-
No. and section of 1956 Act by which affected
How affected
-
1948
k
9
63, s. 3(1) and Sch. I. 63, s. 4(1) and Sch. 111. Constit~~tion(Seventh Amendment) Act, s. 29 and Sch. 63, s 3(2) and Sch. 11.
9 Assam Adoption of Standard Weights Act.
ASSAM Will bd repealed 89, s. 18(2). when Act 89 of 1956 comes into force.
iI L
t t &
-1
.
-
-
II/ .$
1 B
Trr.hl,esh,nu,ing effect of Parliamentary ZegisErition
--
I
Year No. of of Act Act
-
Short title of Act
No. and section o f 1956 Act by which affected-
How affected
1953 15 Bhopal State Weights Will be repealed when 89, s. 18(2). Act 89 of 1956 comes and Measures Act. into force.
BIHAR 1947 17 Bihar Weights Act
.
Will be repealed when 89, s. 18 (2). Act 89 of m56 comes into force.
BOMBAY 1925
I 932
1954
8 Bombay Securities Repealed Contracts Control . Act.
.
.
4a, s, 31.
15 Bombay Weights and Will be repealed when 89, s. 18(2). Measures Act. Act 89 of 1956 comes into force.
7
Coorg Act
.
.
COORG Will be repealed when 89, s. 18(2). Act 89 of 1956 comes into force.
*
.-
-
HIMACHAL PRADESH . 1953
6 Himachal Pradesh Panchayat Raj Act, 19.52.
I
Ss. 2,4, 17,21, 22, 102, s. 64 and Sch. 30, 34, 36, 38, 39, 99,'IoO~ 103, 104, 105, 106, 113, 114, 118, 119, I 2 2 3 123, 125, 127, 129, 130, ,131, 135, and 138 amended. S S . I O ~ , I I O , I I I , I I ~Ibid. , 116 and 117 omitted.
135oF 19, Hyderabad Bank Act.
State Ss. 2 and 79, s. 43 and Seccnd 3 amended Sch. Ss. 4 to 28 and Schs. Ibid. I and I1 omitted. 1356F 14' Hyderabad Weights Will be repealed when 89, s. 18(2). . and Measures Act. Act 89 of 1956 . comes into force.
,
1
Table showing efl+at, of Parliamentarg.ile'g;isla$iwz
XX.
Year No. of: ofAct Act
Short title .of Act
No. and section,pf 19-56 Act- by,. which affected
How affc~ted..
.
.
I 953
21
Madhya Bharat Pttb- Repealed lic Debt Ace:
1954
21
Madhya Bharat Will be repealed when 89, S. 18(2). Weights Act. Aa;89;@&1g56 comes into force.
,
\
57,.s. r5.
MADHWA' PRADESII
1928
2
-
Central Provinces and Will be repealed when 89, s. 18(2). Berar Weights and ACI 89 ofr~g56 comes Measures of Capa- into force. city Act.
MADRAS t 948 22 Madras Weights-iamk Will be-repeaSed,when 89, s. 1e2). Measures-Act., Act 8g.of 1956 comes into force. 1954 35 Indian Baf Councils Validated . . 4, s. 2 and Sch. (Madras Amendment) Act.
1902
3 Mysore Weiglpwnd Measures Act.
1933
6 Mysore PubllcDebt Act. ,--
1943
7 Orissa Weights and Measulxs Act.
Will berkp&e,&when 89, s. 18(2). Act 89 of 1956 comes into- flLrc3e. Repealed . 57,az~.
Will be repealed when 89, s. 18(2). Act 89 of 1956 comes into force. PUNJAB
1941
12
Punjab Weights and. Will be repealed when 89, S. 18(2). Measures Act. Act 89 of 1956 comes into force.
1954 19 Rajasthan Weights and Measures Act
fi ~e:hoi!&hdha::.6f.grticles.:'~ -1
- - I
-
,
Copies of memorandum and articles etc. to be given to members. . . Alteration of il;remoj?&n'dum oi . $&iCie'setc, to be not=& . . , . .. . : '." . .. in evesly- copy. .
,
;
;
!I 7
I
Membership of ~ o m p q 41. Definition of "member". 42. Membership of holding company. Private companies 43. Consequences of default in complying with coditiom constituting a company a private company. M. Prospectus or statement in lieu of prospectus to @ filed by private company on ceasing to be private company,
-
Reduction of- number of members below le'gal rniriimum 4-5. Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members. 46. 47. 48. 49. 5€X
Contracts and deeds, investments, seal etc. -Form of contracts. Bills of exchange and premissory notes, Execution of deeds. Investments of company to be held in its own name. Power for company to have official seal for use outside h d i a Service of documents
.
51. Service of documents on company. 52. Service of documents on Registrar. 53. Service of documents on members by compzny.
Authentication of documents and proceedings 54.* Authentication of documents and proceedings.
PART I11
PROSPECTUS AND ALLOTMENT, AND OTHER ~ T T E R SRELAT~NG TO IS$UI OF SHARESOR DEBENTURES Prospectus 55. Dating of prospectus. 56. Matters to be stated and reports to be set out in prospecfus. 57. Expert to be unconnected with formation or management d company. 58. Expert's consent to issue of prospectus- contaking s t a h e n a t ,by him. -*.
--
r9
i
1
--
- --
--
Companies
4
--
-
[ACT
-
-
1
SEGTIONS 59. Penalty and interpretation. 60. Registration of prospectus.
i
i
I
-j 1
61. Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied. 62. Civil liability for mis-statements in prospectus. 63. Criminal liability for mis-statements in prospectus. 64. Document containing offer of shares or debentures for sale to be deemed prospectus. 65. Interpretation of provisions relating to prospectuses. 66. Newspaper adve~lisementsof prospectus. 67. Construction of references to offering shares or debentures to the public etc. 68. Penalty for fraudulently inducing persons to invest money.
5
G9. Prohibition of L
g t-
5
70.
F
71. 72. . 73.
15
74.
c
I
1 ii P :Ea E
L I
&
k
e.
i
allotment unless minimum subscription received. Prohibition of allotment i n certain cases unless statement in lieu of prospectus delivered to Registrar. Effect of irregular allotment. Applications for, and allotment of, shares and debentures. Allotment of shar& and debentures to be dealt in on stock e exchange. Manner of reckoning fifth, eighth and tenth days in sections 72 and 73. ,
75. Return as to allotments. Commissions and discounts 76. Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc. 1 '77. Restrictions on purchase by company, or loans by company for purchase, of its own or its holding company's shares. Issue of shares a t premium and discount 48. Application of premiums received on issue of shares.
79. Power to issue shases at a discount. Redeemable preference shares 80. Power to issue redeemable preference shares.
\
k,
d~ 19861
F
.
Companies
5
SECTIONS Further issue of capital 81. Further issue of capital.
L
PART IV SHARECAPITAL AND DEBENTURES Nature, numbering and certificate of shares 82. Nature of shares. 83. Numbering of shares. 84. Certificate of shares.
+ -
:
-
Kinds of share capital
.
85. 86. 87. 88. 89.
Two kinds of share capital. New issues of share capital to be only of two kinds. Voting rights. prohibition of issue of shares with disproportionate rights. , Termination of disproportionately excessive voting rights in existing companies. 90. Savings. Miscellaneous provis+ms as to share capital Dl. Calls on shares of same class to be made on uniform basis. 92. Power of company to accept unpaid share capital, although
93. 34. 95.
I I
96. 97. 98. 99.
-
not called up, Payment of di,vidend in proportion to amount paid up. Power of limited company to alter its share capital. Notice to Registrar of consolidation of share capital, cmversion of shares into stock, etc. Effect of conversion of shares into stock. Notice of increase of share capital or of members. Power of unlimited company to provide for reserve share capital on re-registration Reserve liability of limited company. ,
-
-
-
Reduction of share capital
'.MI. Special resolution for reduction of shark capital. 101. Application to Court for confirming order, objections by creditors, and settlement of list of objecting creditors.
"
-
t \
C'ompnnzes
6
,
f 1 -~
SECTIONS 102. Order confirming reduction and powers of Court on making such order. 103. Registration of order and minute of reduction. 104. Liability of members in respect of reduced shares. 105. Penalty for concealing name of creditor, etc. Variation of shareholders' rights
-
106. Alteration of rights of holders of special classes of shares. 107. Rights of dissentient shareholders.
6
Transfer of shares and debentures 108. Transfer not to be registered except on production of instrument of transfer. 109. Transfer by legal, representative. 110. Application for transfer. 111. Power to refuse registration and appeal against refusal. 112. Certification of transfers.
I S Wof ~ certificate of shares, etc.
113. Limitation of time for issue of certificates. :t
Share w a m n t s ,
/'-
114. Issue and effect of share warrants to bearer.. 115. Share warrants and entries in register of members.
i
L
!
Penalty for personation of shareholder
I
116. Penalty for personation of shareholder. Special provisions as to debentures 117. 118. 119. 120. 121. 122. 123.
a hereafter. Debentures with voting rights not to be issued Right to obtain copies of-and inspect trust deed. Liability of trustees for debenture holders. Perpetual debentures. Power to re-issue redeelned debentures in cerlal'n cases. Specific performance of contract to subscribe for debentures Payments of certain debts out of assets subject to floating charge in priority to claims under the charge.
,
1
I
Companies
PART V
Swne~s
124. "Charge'' to include mortgage in this Part. 125. Certain charges to be void against liquidator or creditors unless registered. 126. Date of notice of charge. 127. Registration of charges on properties acquired subject to charge. ,'
128. Particulars in case of series of debentures entitling holders pdri passu. 129. Pqrticulars in case of commission etc., on debentures. I
I
130. -Registel: of charges to be kept by Registrar. 131. Index to register of charges. 132. Certificate of registration.
I
133. Endorsement of certificate of registration on debenture or \certificate of debenture stock. 134. Duty of cornpan+ as regards interested party.
registration and right of
135. Provisions of Part to %applyto modification of charges. 136~ Copy of instrument creating charge to be kept by company at registered office. 137. Entry in register of charges of appointment of receiver .or manager. , 138. Company to report satisfaction and procedure thereafter. 139. Power of Registrar to make entries of satisfaction and release - in absence of intimation from company. 140. Cqpy of memorandum of satisfaction to be furnished to company. 141. Rectification by Court of register of .cPiarges. 142. Penalties. 143. Company'k -register of charges.
-..
144. Right to inspect copies of instruments creating charges and
company's register of charges.
.?
t
145. Application of Part to charges requir~ngregistration under
it but not under previous law.
'
,
,
- --
----
----.-----*.
--.-,.----
"-v.,"--".---v-.------.
--*-----
----.*-mw
Companies
8
'
,
I ACT
a
PART VI
MANAGEMENT
AND
ADMINISTRATION
CHAPTERI--General provisions ~ e g i s t e r e dofice and name
SECTIONS 146. Registered office of company. l 147. ~u~blicafion of name by company. 148. Publication of authorised as well as subscribed and paidup capital.
E f i i
k
Restrictions on commencement of business
L
149. Restrictions on commencement of business. '
Registers of members and debenture holders 150. 151. 152. 153. 154. 155. 156. F
1k >!
?!
t F
F 6 F
i
k
eF .
1
Foreign registers of members or debenture holders
D
1
Register of members. Index of members. Register 'and index of debenture holders. Trusts not to be entered on register. Power to close register- of members or debenture holders. Power of Court to rectify register of members. Notice to Registrar of rectification of register.
.
157. Power for company to keep foreign register of members ox debenture holders. 158. ~rdvisionsas to foreign registers. Annual returns 159. Annual return to be made by company having a share capital. 160. Annual return to be made by company not having a share capital. , 161. Further provisions regarding annual return and certificate to be annexed thereto. 162. Penalty and interpretation.
-
-
.
-
I
OF 19561
Companies
9
SECTIONS General provisions regarding registers and ,returns 163. Place of keeping, and inspection of, registers and returns. 164. Registers etc., to be evidence. Meetings and proceedings Statutary meeting and statutory report of company, Annual general meeting. Power of Central Government to call annual general meeting. Penalty for default in complying with section 166 or 167. Calling 03 extraordinary general meeting on requisition. Sections 171 to 186 to apply to meetings. Length of notice for calling meeting. Contents and manner of service of notice and persons on whom it is to be served. Explanatory statement to be annexed to notice. Quorum for meeting. Chairman of meeting. Prosies. Voting to be by show of hands in first instance. , Chairman's declaration of result of voting by show of hands to be conclusive. Demand for poll. T i ~ of e taking poll. Restriction on exercise of voting right of members who have not paid calls, etc. 182. Restrictions on exercise of voting right in other cases to be void. 183. 184. 185. 186. 187. 188. 189. 190.
191.
Ri,ght of member to use his votes differently. Scrutineers at poll. Manner of taking poll and result thereof. Power of Court to order meeting to be called. RepresentaMon of corporations at meetings of companies and of creditors. Circulation of members: r.esolutions. Ordinary and special resolutions. Resolutions requiring special notice. Resolutions passed at adjourned meetings.
1512M of Law-2
,
-
192. Registration of certain resolutions and agreements. 193. Minutes of proceedings of general meetings and of Board and other meetings. 194. Minutes to he evidence. 195. Presumptions to be drawn where minutes duly drawn and signed. , 19.6. Ins~ectionof minute books of general meetings. 19.7. Publication of reports of proceedings of general meetings. Managerial remuneration, etc.
1915. Overall maximum managerial rernutleratioh and 1nifiimtim , managerial remuneration in the absence or inadequacy of profits. 199, Calcu1at;ion of commission etc., in certain cases. 208. Prohibition of tax-free payments. 201, Avoidance of provisions relieving liability of officers and auditors of company. Prevention of management by undesirable persons
202. Undischarged insolvent not to manage companies. 203. Power to restrain fraudulent persons fwom managing companies. Res&iction on appointment of firms and bodies corporate'to ofices
204. Restriction on appointment of firm or body corporate to office or place of profit under a company. i
F P
1
4
Dividends and manner and time of payment thereof
205. Dividend to be paid only out of profits. 206. Dividend not to be paid except to registered shareholders or to their order or to their bankers. 207. Penalty for failure to distribute dividends within three months.
i
$
1 I
F ?-
Payments of interest out of capital
.
-
208. Power of company to pay interest out of capital in certain cases.
-
OF 19561
Companies
T- I
S~caro~s
Accounts 209. Books of accounts to be kept by company. 210. Annual accounts and balance-sheet. 211. Form and contents of balance-sheet and profit and loss a e count. 212. Balance-sheet of holding company to include - .certain particulars as to its subsidiaries. 213. Financial year of holding company and subsidiary. 214, Rights of holding company's representatives and members. . 2 l 5 . Ahthentication of balance-sheet and profit and loss account. 216. Profit and loss account to be annexed and auditors' repbrt to ,be aflached to balance-sheet. 217. Board's report. 218. Penalty for improper issue, circulation or publication of balance-sheet o r profit and loss account. 219: Right of member to copies of balance-she$ and auditors' report. 220. Three copies of balance-sheet, etc., to be filed with Registrar. 221. Duty of officer to make disclosure'of payments, etc. . 222. Construction of references to documents annexed to accounts. 223. Certain companies to publish statement in the Form in Table F in Schedule I.
AuGt \
224. Appointment and remuneration of auditors. 225. Provisions as to resolutions for appointing or removing auditors. 226. Qualifications and disgualifications of auditors. 227. Powers and duties of auditors. 228. Audit of accounts of branch office of company. 229. Signature of audit report, etc. 230. Reading and inspection of auditor's report. 231. Right of auditor to attend gen'eral meeting. 232. Penalty for non-compliance with sections 225 to 231. 233. Penalty for non-compliance by auditor with sections 227 and 229.
Power of Registrar to cull for information etc.
234. Power of Registrar to call for information or explanation. Investigation
235, Investigation of affairs of company on application by m e m b s ~ or report by Registrar. 236. Application by members to be supported by evidence and power to call for security. 237. Investigation of company's affairs in other cases. 238. Firm, body corporate or association not to 'be appointed as Wpector. 239. Power of inspectors to carry investigation into affairs of related companies or of managing agent or associate. 240. Production of documents and evidence. 241. Inspectors' report. 242. Prosecvtion. 243. Application for winding up of company or an order under section 397 or 398. 244: Proceedings for recovery of damages or property. . 245. Expenses of investigation. 246. Inspectors' report to be evidence. 247. Investigation of ownership .of company. 248. Information regarding persons having an interest, in company, or in 'body corporate or firm acting as managing agent thereof. Investigation of associateship with managing agent etc. 249. 250. Impositi~nof restrictions on shares or debentures. 251. Saving for legal advisers and bankers.
Constitution of B,oard of directors r 1-
252, Minimum number of directors. 253. Only individuals to be directors. 254. Subscribers of memorandum deemed to bc clirectors. 255. Appointment of directors and proportion of tllose who are to retire by rotation.
t h
256. Ascertainment of directors retiring by rotation and filling of vacancies. 257.' Right of persons other than retiring directors to stand fsr directorship. 258. Right of company to increase or reduce the number of directors. 259. Increase in number of directors to require Government sanction. 260. Additional directors: 261. Certain persons not to be appointed directors, except by special resolution. 262. Filling of casual vacancies among directors. 263. Appointment of directors to be voted on individually. Consent of candidate for directorship to be filed with Registrar., Option to company to adopt proportional representation for the appointment of. directors. Restrictions on appointment or advertisement of director.
-
Managing directors, etc. Certain persons not to be appointeh managing directors. Amendment of provision relating to managing, whole-time or non-rotational directors to require Government approval. ~ ~ ~ o i & m of e nmanaging t or whole-time director to require Government approval.
Share qualification Time within which share qualification is to be obtained and . . maximum amount thereof. Filing of declaration bf share qualification by director. Pena!lty. Saving. Disqualifications of directors 274. Disqualifications of directors. R e s t d ~ t i u n - son number of directorships 275. No person to be a director of more than twenty companies. 276. Choice to be made by director of more than twenty companies at commencement of Act.
*
/
.
Companies
677. Choice by person becoming director--of more than twenty cornpahies after commencement of Act. 278. Exclusion of certain directorships for the purposes of seckions 275, 276 and 277. 279. Penalty. Retiring age of directors 280. Age limit. 281. Age limit not to apply if company so resolves. 282. Duty of director to disclose age. Vacation of ofice by dircczors 283. Vacation of office by directors. 284. Removal of directors.
-
Meetings of Board . Board to meet once in every three months. Notice of meetings. Quorum for meetings. Procedure where meeting adjourned for want of quorum. Passing of resolutions by circulation. Validity of acts of directors. d
285. 286. 287. 288. 289. 290.
Board's powers and restrictions thereon 291. General powers of Board.
a
-
292. Certain powers to be exercised by Board only a t meeting. 293. Restrictions on powers of Board. 294. Appointment of sole selling agents to require approval oi company in general meeting. 1 295. Loans to directors, etc. 296. Saving regarding book-debts. 297. Board's sanction to be required for certain contracts in which particular directors are interested. 298." Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc. Procedure, ktc., where director interested 299. Disclosure of interests by director. 300. Interested director not to participate or vote in Board's
pmeeed.hgs.
301. Register of contracts, eom$ahie~ and f h m s in which direetors are interested. 302. Disclosure to members of director's interest in contract appointing managerL managing di~ector,managing agent or secretaries and treasurers. I
Register of directors, etc. 303. Regis* of directors, managing agents, secretaries and treasurers etc. 304. Inspeetion of the register. 305. Duty of directors etc., to make disclosure. 306. Register to be kept by Registrar and inspection thereof. Register of directors' shareholdings 307. Register of directors' shareholdings, etc. 308. Duty of directors and persons deemed to be direetas to make dke2osure of shreholdings. Remuneration of Directors
309. Remuneration of directors. 310. Provision for increase in remuneration to require Govsmment sanction. 311. Increase in remuneration of managing director on reappointment or appointment after A& b require Govem-t. . sano,liola. Miscel laneoh provisions
.
312 Prohibition of assignment of office by director. 315. Appointment and term of office of alternate directors. 314. Director etc., not to hold office or place of profit. Restlictions on appointment of managing directors -
-
I 315.- Application of sec-tions 316 3J7. . .. 316. Number. of companies of which one person may be appoiated managing director. im 317. Managing director not to be appointed for more than f yeam at a k e . i .. , *--
-.
r
\
r
1
--
---
-- -
b
F
1
SE~IONS Compensation for loss of ofice
I
k k:
F I 6
i;
[ACT 1
Companies
16
1 3
5:
318. Compensation for loss of office not permissible except to managing or whole-time directors or to directors who are managers. 319. Payment to director, etc., for loss of office etc., in connection with transfer of undertaking or property. 320. Payment to director for loss of office etc., in ~onnectionwith transfer of shares. 321. Provisions supplementary to sections 318, 319 and 320. Directors with unlimited
liability
322. Directors, etc., with unlimited liability in limited company. 323. Special resolution of limited company making liability of directors etc., unlimited. CHAPTER111-Mrpaging
Agents
Prohibition of appointment of managing agent wrtain cases
in
324. Power of Central Government to notify that companies engaged in specified classes of industry or business shall not have managing agents. 325. Managing agency company not to have managing agent. , Appointment and term of ofice of managing agent in other cases. Central Gov~rnment to approve of appointdent, etc., of managing agent; and circumstances in which appcoval may be accorded. 327. Application of sections 328 to 331. 328. Term of office of managigg agent.
3%.
t i
ii c
?
T-
e
Variation of managing agency agreement
329. Variation of managing agency agreement. Special provisions i'egatding ezisting ffianaging agents ,p
330. Term of, office of existing managing agents to terminate on 15th August, 1960.
331. Application of Act to existing managing agencs. 1
1
SECTIONS Restrictions on number of managing agencies
,
;
332. N o person to be managing agent of more than ten companies after 15th August, 1960.
b p.
r
Right to charge on assets
F
f
333. Right of managing agent to charge on company's assets.
$
Vacation of ofice, removal and resignation
i
k
if, %
{-
I
I
i
i i
334. Vacation of Office on insolvency, dissolution or winding up. e tc. 335. Suspension from office where receiver appointed. 336. Vacation of office on conviction in certain cases. 337. Removal for fraud or breach of trust. 338. Removal for gross negligence or mismanagement. 339. Power to call meetings for the purposes of sections 337 and 338 and procedure. 340. Time when certain disqualifications will take effect, 341. Conviction not to operate as disqualification if convicted partner, director, etc., is expelled. 342. Resignation of office by managing agent. *
t f-
P t
1. f
Transfers of, and succession to, ofice 343. 'Transfer 6f Office by managing agent. 344. Managing agency not to be heritable after commeAcement of Act.
6
6*
g
t
1>B
i: ?
845. Succession to managing agency by idheritaaee or devise under agreement before commencement of Act, to be s u b ject to Central Goverhment's approval.
Changes in constitution of firms and corporbtions
346. changes in constitution of managing agency, firm or corporaa tion to ,be approved by Central Government. 347. Application of Schedule VIII to certain man&ging agents.
-
Remuneration of managing agents
"-+.
--
348. Remuneration of managing agent ordinarily not to exceed 10 per cent. of net profits. 349. Determination of net profits. 350. Ascertainment of depreciation. 15rzM of Law-3
tC i
351. Special provision where there is a profit-sharing arrangement
K-
362. Payment of additional remuneration. 363. Tirhe of payment of remuneration. 354. Managing agent not entitled to office allowance but entitled ;to be reimbursed ih respect of expenses.
between two or more companies.
fp
lz k
-
&iPpdintrnerlts as ge114n~and buging agents
I
466. Appointment of managing agent or associate as selling agent of mods produced by the company. 367. ~pplicationof section 356 to case where business of company Cbnsists of the supply or rendering of any services. $88. Appointment of managing agent or associate as buying agent for company.
339. Commission, ete., of managing agent as buying or selling ageht of other concerns.
360. Contracts between managing agent or associate and company for the sale or purchase of goods or the supply of services, ets.
361. Existing contracts relating to matters dealt with in sections 356 to 360 to terminate on 1st March, 1958. 362. Registers to be open to inspection. 363. Remuneration received in contravention of foregoing sections to be held in trust for company.
kF
Assignment of, or charge on, remuneration
384. Company not to be bound by assignment of, or charge oa?
b
k
!
[1. E:
tH
managing agent's remuneration. \
-C
Compensation for termination of ofice
365. Prohibition of payment of compensation for loss of office in certain cases. 366. Limit of compensation for loss of office. Other rights andl liabilities not affected on termination @ cr@e
367. Managing agent's rights and liabilities after termination
office.
d
