Exemption power allows Central Government to notify classes of foreign companies exempt from Chapter provisions with parliamentary oversight. A newly inserted provision authorises the Central Government, by notification, to exempt specified classes of foreign companies-including companies ... Summary
Exemption power allows Central Government to notify classes of foreign companies exempt from Chapter provisions with parliamentary oversight.
A newly inserted provision authorises the Central Government, by notification, to exempt specified classes of foreign companies-including companies incorporated outside India irrespective of establishment of a place of business in India-from any provisions of the Chapter, and mandates that each such notification be laid before both Houses of Parliament as soon as practicable.
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