Section 459 - Powers of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications

Company approvals and exemptions may be conditioned and withdrawn; applications must pay prescribed fees, which may vary by matter or company.

Section 459 authorises the Central Government or the Tribunal, when called upon by the Act to accord approvals, give directions or grant exemptions, to impose conditions, limitations or restrictions and to rescind those instruments if conditions are breached. It mandates that, unless otherwise provided, every application under the Act to the Government or Tribunal for approvals, directions, exemptions or other matters must be accompanied by prescribed fees, with provision for different fees by matter or by classes of companies.