SECTION 620c

SPECIAL PROVISIONS AS TO COMPANIES IN JAMMU & KASHMIR

Notification notifying provisions of the Act as not applicable or applicable with modification in relation to companies in Jammu and Kashmir.

In exercise of the powers conferred by section 620C of the Companies Act, 1956, the Central Government hereby directs that; with effect from the 15th August, 1968, the provisions of the said Act as specified in column (1) of the Schedule annexed hereto shall not apply, or as the case may be, shall apply with such exceptions, modifications or adaptations specified in the corresponding entry in column (2) thereof, to companies, other than banking, insurance and financial corporations, registered in the State of Jammu and Kashmir before the said date.

SCHEDULE

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Provisions of the Extent of application

Companies Act, 1956

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Sub-section (4) of section For the words, figures and letters "the 1st day of

89 December, 1949", the words, figures and letters "the

15th day of August, 1968" shall be substituted.

Section 211 After the proviso to sub-section (1), the following

proviso shall be inserted, namely:

"Provided further that in respect of any financial year

commencing on a date prior to the 15th day of August,

1968, the balance sheet of a company registered in the

State of Jammu and Kashmir need not be in the form

set out in Part I of Schedule VI".

Sub-section (1) of section Sub-section (1) of section 226 shall not apply to a

226 private company which is not a subsidiary of a public

company in respect of the balance sheet and profit

and loss account relating to any financial year commencing

before the 15th day of August, 1968.

Section 259 In clause (a), for the words, figures and letters "the

21st day of July, 1951", the words, figures and letters

"the 15th day of August, 1968" shall be substituted.

Section 284 In the first proviso to sub-section (1), for the words,

figures and letters "the first day of April, 1952", the

words, figures and letters "the 15th day of August,

1968" shall be substituted.

Section 294 (i) Reference to the commencement of the Com-

panies (Amendment) Act, 1960, shall in relation

to a company registered in the State of Jammu

and Kashmir, be construed as reference to the

commencement of the companies Act, 1956, in

that State.

(ii) For sub-section (3), the following sub-section

shall be substituted, namely:

"(3) Where, before the commencement of this Act in

the State of Jammu and Kashmir, a company registered

in that State has appointed a sole selling agent for any

area for a period of not less than five years and the

period of such appointment has not expired, and is

not likely to expire earlier, such appointment shall be

placed before the company in general meeting within

a period of eighteen months from such commencement,

and the company in general meeting may, by

resolution, terminate the appointment with effect

from such date, not being a date later than the 15th

day of August, 1970, as may be specified in the

resolution.

Provided that in the event of any omission to place

such appointment before the company in general

meeting for its approval, such appointment shall

stand terminated on the expiry of the period of

eighteen months from such commencement."

Section 295 In sub-section (6), for the words, figures and letters

"the 1st day of April, 1956", the words, figures and

letters "the 15th day of August, 1968" shall be

substituted.

Section 325 In sub-section (4), for the words, figures and letters

"the 15th day of August, 1956", the words, figures and

letters "the 31st day of March, 1970" shall be substituted.

Section 330 Shall not apply.

Section 332 In sub-section (1), for the words, figures and letters

"the 15th day of August, 1960", the words, figures and

letters "the 31st day of March, 1970" shall be substituted.

Section 361 For the words and figures "the first day of March,

1958", the words and figures "the third day of April,

1970" shall be substituted.

Section 373 (i) For the words and figures "after the first day of

April, 1952", the words and figures "before the fifteenth

day of August, 1968" shall be substituted.

(ii) For the words "within six months" the words

within eighteen months" shall be substituted.

Section 618 Shall not apply.

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* NOTIFICATION NO. GSR 71, DATED 29-12-1969.