What is Companies Act Chapter 50?

What is Companies Act Chapter 50?

Act – Companies Act (Chapter 50) and includes any statutory modification or re-enactment thereof. Articles – these Articles of Association as originally framed or as altered from time to time by special resolutions. Board of Trustees – the Board of Trustees of the Company.

What are the 29 chapters in Companies Act 2013?

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What is Section 12 of Companies Act 2013?

(1) A Company shall, on and from the fifteenth day of its incorporation within thirty days of its incorporation and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it.

What is Section 22 of Companies Act?

Section 22: Execution of bills of exchange, etc.

(2) A company may, by writing 1[under its common seal, if any,] authorise any person, either generally or in respect of any specified matters, as its attorney to execute other deeds on its behalf in any place either in or outside India.

What is Section 7 of Companies Act?

(g) the particulars of the interests of the persons mentioned in the articles as the first directors of the company in other firms or bodies corporate along with their consent to act as directors of the company in such form and manner as may be prescribed.

What is section 9 of Companies Act?

From the date of incorporation mentioned in the certificate of incorporation, such subscribers to the memorandum and all other persons, as may, from time to time, become members of the company, shall be a body corporate by the name contained in the memorandum, capable of exercising all the functions of an incorporated …

How many chapters are there in Companies Act 2013?

29 chapters
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules. However, currently there are only 484 (470-43+57) sections in this Act.

What are chapters in an act?

Chapters or Parts, identified by their headings (these are subdivisions used to arrange the information in an Act or other piece of legislation. In some countries, especially those which were once under British rule, the Acts are known as Chapters or by a Latin abbreviation, “Cap”)

What is Section 14 of the Companies Act 2013?

(1) For effecting the conversion of a private company into a public company or vice versa, the application shall be filed in Form No. INC. 27 with fee. (2) A copy of order of the competent authority approving the alteration, shall be filed with the Registrar in Form No.

What is Section 11 of Companies Act, 2013?

(1) A company having a share capital shall not commence any business or exercise any borrowing powers unless- (a) a declaration is filed by a director in such form and verified in such manner as may be prescribed, with the Registrar that every subscriber to the memorandum has paid the value of the shares agreed to be …

What is Section 23 of Companies Act, 2013?

Explanation. —For the purposes of this Chapter, “public offer” includes initial public offer or further public offer of securities to the public by a company, or an offer for sale of securities to the public by an existing shareholder, through issue of a prospectus.

What is Section 24 of Companies Act, 2013?

24. Power of Securities and Exchange Board to regulate issue and transfer of securities, etc. 25. Document containing offer of securities for sale to be deemed prospectus.

What is Section 8 of Companies Act?

As per Section 8(1a, 1b, 1c) of the new Companies Act, 2013, a person can establish Section 8 company for “promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object”, provided it “intends to apply its profits, if any, or other …

What is Section 10 of Companies Act?

(1) Subject to the provisions of this Act, the memorandum and articles shall, when registered, bind the Company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the …

What is a Section 8 company?

A company is referred a to as Section 8 Company when registered as a Non-Profit Organization (NPO) i.e. when it the has motive of promoting arts, commerce, education, charity, protectithe on of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for …

How many sections does company law have?

The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules.

How many chapters are in each act?

Defining The Three-Act Structure
In some, the middle is the same size as the beginning and end put together. However, when you’re first starting out, it’s much easier to plan each act as the same length. In this version of the three-act structure, each act is divided into nine chapters for 27 chapters in total.

How many chapters are there in Companies act?

Initially, there were 470 sections under 29 chapters with seven schedules in the Companies Act 2013. Currently the total number of sections increased to 484 (470-43+57) under 42 chapters in this Act.

What is Section 143 of Companies Act, 2013?

In accordance with the provisions of section 143(1) of CA, 2013, the auditor have right to access the books of account and vouchers of a company and the records of all its subsidiaries, if any, in relation to the Consolidation of Financial Statements (CFS).

What is Section 102 of the Companies Act 2013?

Section 102. Statement to be annexed to notice. (iii) relatives of the persons mentioned in sub-clauses (i) and (ii); (b) any other information and facts that may enable members to understand the meaning, scope and implications of the items of business and to take decision thereon.

What is Section 8 of Companies Act, 2013?

What is Section 39 of Companies Act, 2013?

(1) No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so stated have been paid to and received by the company by cheque or other …

What is Section 25 of Companies Act?

the Central Government may, by licence, authorise the company by a special resolution to change its name, including or consisting of the omission of the word” Limited” or the words” Private Limited”; and section 23 shall apply to a change of name under this sub- section as it applies to a change of name under section …

What is Section 26 of Companies Act?

Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles.

What is Section 9 of the Companies Act 2013?