Repeal of Certain Enactments and Savings (1) The Companies Act, 1956 and the Registration of Companies (Sikkim) Act, 1961 (hereafter in this section referred to as the repealed enactments) shall stand repealed: 1[Omitted] 2[Provided that] until a date is notified by the Central Government under subsection (1) of section 434 for transfer of all matters, proceedings or […]

Prohibition of Association or Partnership of Persons Exceeding Certain Number (1)No association or partnership consisting of more than such number of persons as may be prescribed shall be formed for the purpose of carrying on any business that has for its object the acquisition of gain by the association or partnership or by the individual members thereof, unless it

Power of Court to Grant Relief in Certain Cases (1) If in any proceeding for negligence, default, breach of duty, misfeasance or breach of trust against an officer of a company, it appears to the court hearing the case that he is or may be liable in respect of the negligence, default, breach of duty, misfeasance or breach of

Power to Exempt Class or Classes of Companies from Provisions of this Act (1) The Central Government may in the public interest, by notification direct that any of the provisions of this Act,— (a) shall not apply to such class or classes of companies; or (b) shall apply to the class or classes of companies with such

Annual Report by Central Government The Central Government shall cause a general annual report on the working and administration of this Act to be prepared and laid before each House of Parliament within one year of the close of the year to which the report relates.

Condonation of Delay in Certain Cases Notwithstanding anything contained in this Act,— (a) where any application required to be made to the Central Government under any provision of this Act in respect of any matter is not made within the time specified therein, that Government may, for reasons to be recorded in writing, condone the

Powers of Central Government or Tribunal to Accord Approval, etc., Subject to Conditions and to Prescribe Fees on Applications. (1) Where the Central Government or the Tribunal is required or authorised by many provision of this Act— (a) to accord approval, sanction, consent, confirmation or recognition to, or in relation to, any matter; or (b) to give

Delegation by Central Governemnt of its Powers and Functions (1) The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such authority or officer as may be specified in the notification: 1.[Omitted]

Nondisclosure of Information in Certain Cases Notwithstanding anything contained in any other law for the time being in force, the Registrar, any officer of the Government or any other person shall not be compelled to disclose to any court, Tribunal or other authority, the source from where he got any information which— (a) has led the Central Government to order an

Protection of Action Taken in Good Faith No suit, prosecution or other legal proceeding shall lie against the Government or any officer of the Government or any other person in respect of anything which is in good faith done or intended to be done in pursuance of this Act or of any rules or orders made thereunder,