Provision relating to Nidhis and its application, etc.

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....Mutual Benefit Society, as the case may be. (2) The Central Government may, by notification in the Official Gazette, direct that any of the provisions of this Act specified in the notification- (a) shall not apply to any Nidhi or Mutual Benefit Society; or (b) shall apply to any Nidhi or Mutual Benefit Society with such exceptions, modifications and adaptations as may be specified in the noti....

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...., as soon as may be after it has been issued, be laid before each House of Parliament.] **************** Notes:- 1. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 15-08-2019 before it was read as, "406. Power to modify Act in its application to Nidhis (1) In this section, "Nidhi" means a company which has been incorporated as a Nidhi with the objec....