Chapter xix revival and rehabilitation of sick companies. Section 8 amends section 72 of the companies act 2014. Section 391 section 93 of the companies code all pages. Companies act, 1963, section 148 irish statute book.
Recently, we have discussed in detail section 147 punishment for contravention of ca 20. This revised act is an administrative consolidation of the companies act 2014. Nonprofit companies, which are the successors to the current section 21 companies, have to comply with a set of principles set out in schedule 1 of the act. Section 3952 there is no direct equivalent to section 3952, though section 1483 of the 1963 act does require companies act individual accounts from certain categories of entities, including those not trading for the acquisition of gain by members. Effect of removal of company from register 6 5 10 15 20 25 30 35 40 45.
Consequential cesser of powers under section 14 of the insurance companies act 1958 and section 18 of the protection of depositors act 1963. Be it enacted by parliament in the fourteenth year of the republic of india as follows. Actions by shareholders to require directors to act. Part ii incorporation of companies and matters incidental. It provides a new definition of company for the purposes of section 72 to apply to all bodies corporate acquired in a merger, including a foreign company. Duties of directors in connexion with sales or purchases of the companys securities 153. Chapter xxi part i companies authorised to register under this act.
Act structured to facilitate its use in relation to most common type of company 10. Section 148 of ca 20 provides for central government to specify audit of items of cost in respect of certain companies. The companies act, 20 rules on the companies act, 20 this feature allows you to view the companies act, 20 section wise or chapterwise. Application, for purposes of part iii, of certain provisions. Companies act 71 of 2008 english text signed by the president assented to. Dissolution of companies and removal from register 83. Section 8 of the companies amendment act, 1986 as amended by regulation 4 of the european communities accounts regulations, 1993 s. Definitions of holding company, wholly owned subsidiary and group of companies 9. During the course of such assessment proceedings, he discovers that.
Section 148 of the income tax act deals with the issuance of a notice wherein any income has escaped recomputation or assessment. Please refer to schedule 5 of the new companies act, no. 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. General application of act and preservation of rights of existing companies. The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Way in which and extent to which objects of company may be altered. Section 9 amends section 85 of the companies act 2014. 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. These sections are updated and extracted from the ebook on the companies act 20 by aubsp. Table of origins department of business, enterprise and innovation. Regulations required in the case of an unlimited company or company limited by guarantee. The power of assessment or reassessment of any income chargeable to tax that have escaped assessment has been provided under section 147 r w s 148 of income tax act of 1961. Construction of references in other acts to companies registered under companies consolidation act 1908 and act of 1963 7.
This an act to consolidate and amend the law relating to companies. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. You can view a specific section, or view all sections grouped by chapters. Chapter x sections 9 148 of the companies act, 20 ca 20 deals with the provisions related to audit and auditors. The companies act, 20 empowers the central government cg to make rules in the areas of maintenance of cost records by the companies engaged in specified industries, manufacturing of goods or providing services.
Where the central govt cg is of the opinion that the cost records of such class of companies engaged in the production of such goods and providing such services as may be prescribed, is required to be audited, then the cg on consultation with the regulatory bode can demand for cost audit to be conducted. Application of cost record for the purposes of sub section i of section 148 of the act. Laws of malaysia act 125 companies act 1965 arrangement of sections part i preliminary section 1. Penalization of furnishing false information under part iii. Arrangement of sections section part i preliminary 1. Compensation for occupational injuries and diseases act of. Cg by order may direct to include cost records in the books of account of specified class of companies. This act shall be called the justices of the peace and commissioners of oaths act, 1963, and shall come into operation on a.
Companies act 1963 sect 148 profit and loss account and balance sheet. Circumstances in which company may be wound up by the court. If the assessing officer has the reason to believe that any income chargeable to tax has escaped assessment then the assessing officer may subject to the provisions of. Note on section 340 of the act section 340 of the act states that every former act company shall within two years after the commencement date of the act i. Ministry of corporate affairs companies act search. Section 148 1 in the companies act, 1956 1 where any notice, advertisement or other official publi cation, or any business letter, bill head or letter paper, of a. Companies act 1963 act 179 section 1commencement spent. The companies act, 20 empowers the central government to make the rules in the area of maintenance of cost records by the companies engaged in the specified industries, manufacturing providing such goods services. Registrar and offices for registration of companies. Complete list of sections of companies act, 20 corporate. When corporations deemed to be related to each other 6a. This act may be called the negotiable instruments act, 1881. Companies act 1948 first schedule table a part 1 regulations for management of a company limited by shares, not being a private company interpretation 1 in these regulations. Act 553 insurance act 1996 date of royal assent sep1996 date of publication in the gazette 26sep1996 an act to provide new laws for the licensing and regulation of insurance business, insurance broking business, adjusting business and financial advisory business and for other related purposes.
It extends to the whole of india but nothing herein contained affects the indian paper currency act, 1871, 3 of 1871. For the purposes of this section, notice of a meeting shall be deemed to be duly given and the meeting to be duly held when the notice is given and the meeting held in manner provided by this act or the articles. Members severally liable for debts where business carried on with fewer than seven, or in case of private company two, members. Today, we learn the provisions of section 148 of the ca 20.
The company may exercise the powers conferred by section 148 of the act. There is some other income relating to the same assessment year which has also escaped assessment. Amendment in companies cost records and audit rules, 2014. Dpc act cags duties powers and conditions of service. Pursuant to section 24 of the companies act, 1963, act 179 the company has. Prohibition of partnership exceeding twenty m embers.
Private company company limited by shares regulations form. Central government to specify audit of items of cost in respect of certain companies 1 notwithstanding anything contained in this chapter, the central government may, by order, in respect of such class of companies engaged in the production of such goods or providing such services as may be prescribed, direct that particulars relating to the. Cost records and cost audit under companies act, 20. Functions, duties and membership of committees of affected persons.
Payments to directors for loss of office or on transfer of undertaking 154. Assessing officer has issued a notice to r under section 148 to assess the income of assessment year 201011 which according to him has escaped assessment. Guidance note on aoc4 3 iii the assets and liabilities of the company. An act to consolidate and amend the law relating to companies and certain other associations. Rgd regulations of a private company unlimited by shares. Application of act to existing companies and savings. Companies act, 1963, section 141 irish statute book. Company auditors and liquidators to be approved by minister charged with responsibility for finance. Chapter xviii removal of names of companies from the register of companies. Be it enacted by parliament in the sixth year of the republic of india as follows 1. An act to codify the law relating to marine insurance.
In this act, unless the context otherwise requires. The following act of parliament received the assent of the president on the 26th september, 2010, and is hereby published for general information. Pursuant to section 24 of the companies act, 1963, act179 the company. Power for company to have official seal for use abroad. Company law article index company law commencement of business. Construction of references in other acts to companies registered under the companies consolidation act, 1908. An act to consolidate the law to regulate the acceptance and utilisation offoreign.
Download the complete list of all sections of companies act 20 in pdf format. Section 148 of companies act, 20 central government to. As we know that the companies act, 20 has now replaced the decades old companies act, 1956 which was amended tons of time. The companies act audit requirement and other matters. Companies act, 1963, section 149 irish statute book. Incorporated private partnerships act, 1962 act 152 as amended by the incorporated private partnerships amendment act, 1980 act 4231. In respect of certain companies effective from 1st april, 20141 notwithstanding anything contained in this chapter, the central government may, by order, in respect of such class of companies engaged in the production of such goods or providing such services as may be prescribed, direct that particulars relating to the.
Short title and date of operation 1 part i incorporation of companies and related matters essential characteristics of companies 2. Publication of authorised as well as subscribed and paid up capital. Updated notes on section 148 of the companies act 20. Section 148 central government to specify audit of items of cost in respect of certain companies of companies act 20 section 148 1 of companies act 20. This section states that an assessing officer will intimate the assessee in question by serving him or her a notice wherein he or she will be required to provide the following.
The companies act, 20 rules on the companies act, 20 this feature allows you to view the companies act, 20 sectionwise or chapterwise. In this code, unless the context otherwise requires, the expressions defined in the first schedule hereto shall have the meanings assigned to them in that schedule. Companies code, 1963 act 179 report of the commission of enquiry into the working and administration of company law in ghana 1961 gowers report paul davies, gowers principles of company law 6th edition robert r. Part 11 incorporation of companies and matters incidental thereto chapter i the companys memorandum and articles memorandum of association 3. In respect of certain companies effective from 1st april, 20141 notwithstanding anything contained in this chapter, the central government may, by order, in respect of such class of companies engaged in the production of such goods or providing such services as may be prescribed, direct that particulars. The duties and powers of the comptroller and auditorgeneral in relation to the audit of the accounts of government companies shall be performed and exercised by him in accordance with the provisions of the companies act, 1956 1 of 1956. These principles relate mainly to the purpose or objectives and. A company may be wound up by the court if a the company has by special resolution resolved that the company be wound up by the court. You can also search for keywords within the sections of the act. Prohibition of loans by companies to directors 152. A member of a body referred to in section 2 of the electoral act, 1993 act 202 of. Index of customs act, 1962 other customs acts chapterssection. Feb 20, 2015 extract of section 148 of companies act,20. Resolved that pursuant to the provisions of section 148 3 and other applicable provisions, if any, of the companies act, 20 and the companies audit and auditors rules, 2014 including any statutory modifications or reenactments thereof, for the time being in force, the remuneration payable to ms b.
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