Section 462. Power to exempt class or classes of companies from provisions of this Act | Companies Act Integrated Ready Reckoner|Companies Act 2013|CAIRR

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Section 462. Power to exempt class or classes of companies from provisions of this Act

Effective from 12-09-2013

(1) The Central Government may in the public interest, by direct that any of the provisions of this Act,—

(a) shall not apply to such class or classes of companies; or
(b) shall apply to the class or classes of companies with such exceptions, modifications and adaptations as may be specified in the notification.

(2) A copy of every notification proposed to be issued under sub-section (1), shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days, and if, both Houses agree in disapproving the issue of notification or both Houses agree in making any modification in the notification, the notification shall not be issued or, as the case may be, shall be issued only in such modified form as may be agreed upon by both the Houses.

(3) In reckoning any such period of thirty days as is referred to in sub-section (2), no account shall be taken of any period during which the House referred to in sub¬section (2) is prorogued or adjourned for more than four consecutive days.

(4) The copies of every notification issued under this section shall, as soon as may be after it has been issued, be laid before each House of Parliament.

2(58) Notification means a notification published in the Official Gazette and the expression “notify” shall be construed accordingly

Sub-section (2) substituted with new sub-sections (2), (3) and (4) by the Companies (Amendment) Act, 2015, notified on 26th May, 2015, with effect from 29th May 2015 vide notification S.O. 1440(E) To view the Companies (Amendment) Act, 2015, Click Here

Enforcement notification S.O.2754 (E) dated 12/09/2013

The Companies (Amendment) Act,2015