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Exemptions to Government Companies under section 462 of CA 2013
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....o be done before such supersession, the Central Government, in the interest of public hereby directs that certain provisions of the Companies Act, 2013, as specified in column (2) of the Table, shall not apply or shall apply with such exceptions, modifications and adaptations, as specified in column (3) of the said Table, to a Government company. namely :- S. No. Chapter Number/ Section number/ Sub-section(s) in the Companies Act, 2013 Exceptions, Modifications and Adaptations. (1) (2) (3) ^6[1. Chapter I, clause (45) of section 2. In clause (45), the following Explanation shall be inserted, namely:- Explanation.- For the purposes of this clause, the "paid-up share capital" shall ....
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.... In sub-section (2), for the words "such other place as the Central Government may approve in this behalf', the words "such other place within the city, town or village in which the registered office of the company is situate or such other place as the Central Government may approve in this behalf' shall be substituted.".] 6. Chapter VIII, second proviso to sub-section (1 ) of section 123. Shall not apply to a Government Company in which the entire paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or more State Governments. ....
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....atively in charge of the company, or, as the case may he, the State Government" shall be substituted 13 Chapter XI, clause (c) of sub-section (6) of section 149. Shall not apply. 14. Chapter XI sub-section (5) of section 152 Shall not apply where appointment of such director is done by the Central Government or State Government, as the case may be ^2[15. Chapter Xl, sub-sections (6) and (7) of section 152 Shall not apply to - (a) a Government company, which is not a listed company, in which not less than fifty-one per cent. of paid up share capital is held by the Central Government, or by any State Government or Governments or by the Central Government and one or ....
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....sub- section(2) of section 164 Shall not apply. 20 Chapter XI, section 170 Shall not apply to a Government Company in which the.entire share capital is held by the Central Government, or by any State Government or Governments or by the Central Government or by one or more State Governments 21 Chapter XI, section 171 Shall not apply to a Government Company in which the entire share capital is held by the Central Government, or by any State Government or Governments or by the Central Government or by one or more State Governments. 22 Chapter XII, clause (1) of sub-section (4) of section 177. ln clause (i) of sub-section (4) of the section 177, for ....
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....on 188. Shall not apply to - (a) a Government company in respect of contracts or arrangements entered into by it with any other Government company, or with Central Government or any State Government or any combination thereof; (b) a Government company, other than a listed company, in respect of contracts or arrangements other than those referred to in clause (a), in case such company obtains approval of the Ministry or Department of the Central Government which is administratively in charge of the company, or, as the case may be, the State Government before entering into such contract or arrangement.] 27 Chapter XIII, sub sections (2), (4) and (5) of section 196 Shall not app....
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.... [F. No. 1/2/2014-CL. V] (Amardeep Singh Bhatia) Joint Secretary to the Government of India ******************** Notes:- 1. Substituted vide F. No 1/2/2014-CL-V - Dated 13-6-2017, before it was read as, 5. Chapter VII. sub- section (2) of section 96 In sub-section (2). for the words "some other place within the city, town or village in which the registered office of the company is situate", the words "such other place as the Central Government may approve in this behalf " shall be substituted. 2. Substituted vide F. No 1/2/2014-CL-V - Dated 13-6-2017, before it was read as, 15. Chapter XI ....