SECTION 620

POWER TO MODIFY ACT

 

Notifications notifying provisions of the Act as not applicable or applicable with modification in relation to Government companies

 

PROVISIONS NOT TO APPLY

 

Notification 1

 

In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), and in supersession of the notification of the Government of India in the Ministry of Law, Justice and company Affairs (Department of Company Affairs) No.S.O.729 dated the 24th May, 1978 except as respects things done or omitted to be done before such supersession the Central Government hereby directs that section 295 of the said Act shall not apply to a Government company:

 

Provided that such company shall obtain the 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.

 

* NOTIFICKATION NO.GSR 581(E) DATED 16-7-1985.

 

Notification 2

 

In exercise of the powers conferred by clause(a) of sub-section(1) of section 620 of the companies Act, 1956 (1 of 1956), and in supersession of the notification of the Government of India in the Ministry of Law, Justice and Company Affairs (Department of Company Affairs) No.G.S.R. 23  dated the 31st January, 1978, the Central Government hereby directs that section 205A of the said Act shall not apply to a Government company in which 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, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of section 620 of the said Act.

 

* NOTIFICATION NO.GSR 580(E), DATED 16-7-1985

 

Notification 3

 

In exercise of the powers conferred by clause(a) of sub-section(1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that sections 43A, 149(2A), 205B, 263, 264, 265, 266, 307, 308, 316, 317 and 386 of the said Act, 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, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of section 620 of the said Act.

 

*NOTIFICATION NO.GSR 577(E), DATED 16-7-1985.

 

Notification 4

 

In exercise of the powers conferred by clause (a) of sub-section (1) of section 620  of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that sections 165, 187D, 294 and sub-sections (2) and (3) of section 294AA of the said Act shall not apply to a Government company, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of section 620 of the said Act.

 

*NOTIFICATION M NO.GSR 578(E), DATED 16-7-1985.

 

Notification 5

 

In exercise of the powers conferred by clause (a) of sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that section 108 of the said Act shall not apply to a Government company in respect of shares held by nominees of Government, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of section 620 of the said Act.

 

* NOTIFICATION NO.GSR 579(E), DATED 16-7-1985.

 

Notification 6

 

In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that section 370 of the said Act shall not apply to a Government company in respect of which the entire paid-up capital is held by--

 

a) the Central Government and its nominees, or

b) a State Government and its nominees:

 

Provided that such company shall obtain the approval of the Central Government or the State Government, as the case may  be, before making any loan or giving any guarantee or providing any security under the said section 370.  Notification comes into effect from 4-3-1978.

 

* NOTIFICATION NO.GSR 309, DATED 20-2-1978.

 

Notification  7

 

In exercise of the powers conferred by section 620(1)(a), the Central Government has directed  that the following sections of the companies Act shall not apply to a Government company:

 

                                   Sections                                                                                               Notification No.

 

Section 187C (requiring disclosure of beneficial interest in                                           GSR.232, dated        31-1-1978.

shares of a company)                                                                                         

 

Sections 198, 259, 268, 269, 309, 310, 311, 387 and 388                                                    GSR 235, dated 31-1-1978

(pertaining to appointment of managing/whole-time director             

and remuneration of managing/whole-time director and

manager)

 

Proviso to sub-section (1) of section 297 (requiring previous                                     GSR.233, dated 31-1-1978

approval of the Central Government in respect of contracts              

entered into by it with any other Government company)

 

Notification 8

 

In exercise of the powers conferred by section 620(1)(a), the Central Government has directed that the following sections of the Companies Act 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 Government:

 

Sections 255, 256 and 257 (pertaining to appointment and retirement of directors).

 

*NOTIFICATION NO.GSR.234, DATED 31-1-1978.

 

Notification 9

 

In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that section 372 of the said Act shall not apply to any company established with the object of financing, where a State Government has made, or agreed to make, to the company a special advance for the purpose of making loans or advances to, or subscribing to the capital of private industries/enterprises in India.

 

* NOTIFICATION NO.GSR. 990, DATED 9-8-1975.

 

Notification 10

 

In exercise of the powers conferred by clause (a) of sub-section (1) of section 620 of the Companies Act, 1956 (1 of 1956), the Central Government hereby directs that the provisions of sub-section (1) of section 108 of the said Act, in so far as it requires a proper instrument of transfer to be duly stamped and executed by or on behalf of the transferor and by or on behalf of the transferee, shall not apply with respect to bonds issued by a Government company, provided that an intimation by the transferee specifying his name, address and occupation, if any, has been delivered to the company along with the certificate relating to the bond, and if no such certificate is in existence, along with the letter of allotment of the bond, a copy of this notification having been laid in draft before both the Houses of Parliament as required by sub-section (2) of section 620 of the said Act.

 

* NOTIFICATION NO. GSR 1294(E), DATED 17-12-1986.

 

 

PROVISIONS TO APPLY WITH MODIFICATION

Notification 11

 

In exercise of the powers conferred by section 620(1) (b), the Central Government has directed that the provisions of sections 100, 101, 102, 103 (regarding reduction of capital) 391, 392 and 394 (pertaining to amalgamation) shall apply to a Government company with the modifications set out below:

 

Modifications

 

1. In sections 100, 101, 102, 103, 104 391 and 394 for the word "Court", wherever it occurs, the words "Central Government" shall be substituted.

 

2. In section 391, sub-section (7) shall be omitted.

 

3. In section 392(1), for the words "High Court", the words "the Central Government" shall be substituted.

 

* NOTIFICATION NO.GSR 238, DATED 2-2-1978.

 

Notification 12

 

In exercise of the powers conferred by section 620(1)(b), the Central Government has directed that the provisions of sections 100,101, 102, 103, 104, 391 and 394 shall apply to the National Instruments Limited, Calcutta, a Government company with the modifications specified below:

 

Modifications :

 

In sections 100, 101, 102, 103, 104, 391 and 394, for the word "Court", wherever it occurs, the words "Central Government" shall be substituted.

 

* NOTIFICATION NO.GSR 237, DATED 1-2-1978

 

Notification 13

 

In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956, the Central Government hereby directs that the provisions of sections 17, 18, 19, 166, 186 and 620 of the said Act shall apply to a Government company with the modifications set out below, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of that section.

 

Modifications :

 

1) (Omitted)

2) In section 166 :

                i) in proviso to clause (e) of sub-section (1), for the word "Registrar", the words

                   "Central Government" shall be substituted;

 

                ii) 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; and

3) In section 621, sub-section (1), the words "The Registrar or of a shareholder of the company of" shall be omitted.

 

*  NOTIFICATION NO.SRO 355, DATED 17-1-1957 AS AMENDED BY GSR 1473, DATED  16-12-1961 AND GSR 236, DATED 31.1.1978.

 

Notification 14

 

In exercise of the powers conferred by sub-section (1) of section 620 of the companies Act, 1956, the Central Government hereby directs that the provisions of section 13 of the said Act shall apply to a Government company with the modification specified below, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of that section:

 

Modification :

 

In clause (a) of sub-section (1) of section 13, the words "in the case of a public limited company" and with "Private Limited" as the last words of the name in the case of a "Private Limited Company", shall be omitted.

 

* NOTIFICATION NO.GSR 1234, DATED 30-12-1958.

 

Notification 15

 

In exercise of the powers conferred by sub-section (1) of section 620 of the Companies Act, 1956, the Central Government hereby directs that the provisions of sections 21 and 23 of the said Act shall apply to a Government company with the modifications set out below, a copy of this notification having been laid in draft before both Houses of Parliament as required by sub-section (2) of that section:

 

Modifications:

 

1) To section 21, the following proviso shall be added, namely:

     "Provided that nothing in this section shall apply to a Government company where the change in its name consists only  in the deletion of the word 'Private' therefrom"

 

2) In section 23, after sub-section (1), the following sub-section shall be inserted, namely:

 

   "(1A) Where the change in the name of a Government company consists only in the deletion of the word 'Private' therefrom, that Government company shall, not later than three months from the date thereof, inform the Registrar of the aforesaid change and thereupon the Registrar shall delete the word 'Private' before the word 'Limited' in the name of the company upon the register and shall also make the necessary alterations in the certificate of incorporation issued to the company."

 

* NOTIFICATION NO.GSR 1649, DATED 13-11-1956.