Power to modify Act for electronic records allows government to exempt or adapt provisions for electronic filings, with parliamentary review. The Central Government may, by notification, direct that specified provisions of the Companies Act shall not apply to matters filed in electronic form or shall apply only with such exceptions, modifications or adoptions as specified; proposed notifications must be laid before both Houses of Parliament for review and may be disapproved or modified by them, and notifications cannot impose or alter fines, pecuniary penalties, fees or create offences.