Investor education and protection under section 205c of the. Companies act the companies act is a successor to the indian companies act of 19 and is a consolidation of many successive amendment acts, statutory rules and principles laid down in decisions of. Office of the registrar of companies central government office building a wing, second floor, next to reserve bank of india, cbd, belapur 400 614 b transfer to the investor education and protection fund consequent upon amendment to section 205a of the 1956 act and introduction of section 205c by the companies amendment act, 1999, the. The central government shall establish a fund, called as investor education and protection fund. Section 263a sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. The provisions of companies act, 1956 is still in force. Provided that the person whose amounts referred to in clauses a to d of subsection 2 of section 205c transferred to investor education and protection fund, after the expiry of the period of seven years as per provisions of the companies act, 1956 1 of 1956, shall be entitled to get refund out of the fund in respect of such claims in. Download section 205c of the companies act, 1956 file in. Group 1 aarti singh, azhar hussain, jyoti nawlani, nemchand meena, renuka sharma companies act. Companies act, 1956 repealed all earlier companies acts. The word company means an association formed by a number of persons for some common object. These are the companies which are formed and registered under the companies act, 1956 or were registered under any of the earlier companies act. Ebook on companies act 20 in pdf april 2020 edition. Short title and extent 1 this act may be called the hindu succession act.
May 29, 2008 section 291 of the companies act, 1956 confers general power on the board of directors. Nonprofit companies, which are the successors to the current. Section 209 books of account to be kept by company. Securities contracts regulation act, 1956 42 of 1956 an act to prevent undesirable transactions in securities by regulating the business of dealing therein, 1 by providing for certain other matters connected therewith. Be it enacted by parliament in the sixth year of the republic of india as follows.
Indian companies act 1956 was an act of the parliament of india, enacted in 1956. Attention students applicability of companies act, 1956. Companies act, 1956 legal definition of companies act. Bhaba committee the biggest of all procedural laws in country was enacted on april 1. As to memorandum and articles of companies limited by guarantee. The act contains the mechanism regarding organizational, financial, and managerial, all the relevant aspects of a company. Pdf companies act 1956 and 20 pdf download, high quality. Sec 205c establishment of investor education and protection fund. 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.
Full text containing the act, companies act, 1956, with all the sections, schedules, short. Undertakings act, 1970, the banking companies acquisition and transfer of undertakings act, 1980, the state bank of india act, 1955, the state bank of india subsidiary banks act, 1959, the deposit insurance and credit guarantee corporation act, 1961, the exportimport bank of india act, 1981 and the national housing bank act, 1987. Companies act, 1956 means companies act, 1956 without reference to the provisions thereof that have ceased to have effect upon notification of the sections of the companies act, 20 along with the rules made thereunder. Part ixa of companies act, 1956 income tax department. Fund means the iepf constituted under section 125 of the act. Companies act 20 vs companies act 1956 the companies act, 20 has been passed by lok sabha as well as rajya sabha and the president has given his consent to the same in august 20. Section 205c establishment of investor education and protection fund. Full text containing the act, companies act, 1956, with all the sections, schedules, short title, enactment date, and footnotes. The companies act 20 has 464 sections and 7 schedules. A company is defined as a voluntary association of persons formed for the purpose of doing business, having a distinct name and limited liability.
April 2020 edition of my ebook on the companies act, 20 is available for sale from april 1, 2020. Associations and partnerships to be registered as companies under act. Companies declaration of beneficial interest in shares rules, 1975 view download. Protection fund uploading of information regarding unpaid and unclaimed amounts lying with companies rules, 2012 which mandates filing of form 5 inv containing the information of unclaimed and unpaid amounts as referred to in sub section 2 of section 205c of the companies act, 1956. An attempt has been made to reduce the content of the substantive portion of the related law in the companies act, 20 as compared to the companies act, 1956 1956 act. Consequent upon amendment to section 205a of the companies act, 1956 and introduction of section 205c by the companies amendment act, 1999, the company has transferred all unclaimed divided declared till the financial year ended 31st march 2006 to the investor education and protection fund set up by the government of india as per section.
The bill for an act with this short title will usually have been known as a companies bill during its passage through parliament. Introduction to companies act 1956 authorstream presentation. The companies act audit requirement and other matters. 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. The pdf file you are about to download is not created by writinglaw. Companies act, 1956 1 of 1956 so repealed under section 465 of this act. The companies act, 1956 existing act contains 658 sections and xv schedules. Section 205c establishment of investor education and. These are created by special act of the legislature e. Section 205 in the companies act, 1956 indian kanoon. Sendirian or any abbreviation thereof as part of its name if it does not fulfil the requirements required by this act to be fulfilled by private companies and every corporation and every officer of a corporation who is in default shall be guilty of an offence and shall be liable on. Companies disqualification of directors under section 2741g of the companies act, 1956 rules, 2003 view download. Companies act 20 section 125 citation 62508 bare act. Definitions of company, existing company, private company and public company 4.
Companies act, 1882 6 of 1882, or in table a in the first schedule annexed to the indian companies act, 19 7 of 19, or in table a in schedule i annexed to this act. Main provisions of companies act 1956 presented by. Provisions related to producer companies under companies. June, 1956 an act to amend and codify the law relating to intestate succession among hindus be it enacted by parliament in the seventh year of the republic of india as follows. Companies act with its variations is a stock short title used for legislation in botswana, hong kong, india, malaysia, new zealand, south africa and the united kingdom in relation to company law. The act consolidates and amends the law relating to companies. Provided that the person whose amounts referred to in clauses a to d of subsection 2 of section 205c transferred to investor education and protection fund, after the expiry of the period of seven years as per provisions of the companies act, 1956, shall be entitled to get refund out of the fund in respect of such claims in accordance. Content introduction definition characteristics of a company types of company 2. When such an association of persons is registered under the companies act, it becomes an artificial person with perpetual succession and common seal. In india, the companies act, 1956, is the most important piece of legislation that empowers the central government to regulate the formation, financing, functioning and winding up of companies. Under schedule xiii of the companies act, 1956, part ii, section ii relating to.
The companies act, 1956 memorandum of association of the. Understanding section 205 of the companies act, 20. Companies issue of share capital with differential voting rights rules, 2001 view download. Companies act, 1956 bare acts law library advocatekhoj. Section 205c of the companies act 1956 caclubindia. If you agree then only proceed to download companies act 20 pdf. Section 31i of the companies act, 1956 defines a company as. Classification on the basis of incorporation statutory companies. Attention students applicability of companies act, 1956 and the companies act, 20 for june, 2015 examinations the question papers on the subjects of foundation new syllabus, executive new syllabus, and professional programme old and new syllabus shall carry questions from the. A company means a group of persons associated together for the attainment of a common end, social or economic. Pursuant to provisions of section 205a read with section 205c of the companies act, 1956 the unpaid unclaimed dividend pertaining to the year ended on december 31, 2002 amounting to rs.
Subject to the provisions of the act, the board of directors of a company shall be entitled to exercise all such powers, and to do all such acts and things, as the company is authorised to exercise and do. 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. In terms of the new act, companies are classified as either profit companies or nonprofit companies. Explore them by section wise, view them or download them. Investor means any person, who has committed money in shares, or debentures, bond or deposits under a scheme or plan of a company registered under the act. Some of the provisions of the act have been implemented by a notification published on 12th september, 20. Establishment of investor education and protection fund. Power of central government to declare an establishment not to be a branch office. The 20 act introduces a new type of entity to the existing list i. Act empowers the central government to allow any company, in the public interest, to declare or pay dividend without. Pursuant to the provisions of section 205c of the companies act, 1956, the amount of dividend remaining unclaimed and unpaid for a period of 7 years from the date. Provisions of part ix a of the companies act, 1956 shall be applicable mutatis mutandis to a producer company in a manner as if the companies act, 1956 has not been repealed.
Jul 19, 2014 query on section 205c of the companies act 1956 corporate law. Ministry or department means ministry or department of the central. Companies act 1956, companies act 20, corporate governance, corporate social. The name of the company hereinafter called the federation is the federation of indian mineral industries. Pursuant to the provisions of section 205c of the companies act, 1956, th e company has to transfer dividend which remain unpai d unclaimed for a period of 7 years fr om the date it becom e due for payment to investors education and protection fund iepf of the central government. When such an association of persons is registered under the companies act, it.
Notwithstanding anything contained in this act or in any other law for the time being in force or in the regulations of the interstate cooperative society, no director of the board, chairman, managing director or any other person entitled to manage the whole or. The reserve bank of india the life insurance corporation the unit trust of india registered companies. Query on section 205c of the companies act 1956 corporate law. The fund shall be utilized for promotion of investors awareness and protection of the interests of investors in accordance with such rules as may be prescribed. Apr 24, 2010 the government has said that under the provisions of section 205c of the companies act, the following amounts are required to be credited to the investor education and protection fund by the companies.
The companies act 1956 section 205c establishment of. In these rules, unless the context otherwise requires. The companies act, 20 has been notified in the official gazette on 30th august, 20. The companies act 20 is an act of the parliament of india on indian company law which. Fund means the investor education and protection fund iepf established under subsection 1 of 205c of the act, 1956 1 of 1956. Companies act, 1956 based on the recommendations of h. The companies act 1956 in india bare acts, banking and insurance, business and corporate, constitutional, consumer laws, criminal law, energy, environmental, family and inheritance, heritage and national importance, immigration law, labor law, the companies act 1956 national security, others, procedural and administration, property related, public utilities, shipping laws, tax laws. Companies act in pdf is available for students and professionals. The companies act, 1956 memorandum of association of the federation of indian mineral industries new delhi limited by guarantee and not having a share capital name 1. Download section 205c of the companies act, 1956 file in pdf. In the process, much of the aforesaid content has been left, to be prescribed, in the rules. Interpretation of person in accordance with whose directions or instructions directors are accustomed to act.