Section 263A - Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. - Companies Act, 1956

Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying business for profit, etc. [1] [263A. Nothing contained in sections 177, 255, 256 and 263 shall affect any provision in the articles of a company for the election by ballot of all its directors at each annual general meeting if such company does not carry on business for profit or prohibits the payment of a dividend to its members.] ---------------------------------- Notes:- [1] Inserted by the Companies (Amendment) Act, 1960, Act, 65 of 1960, section 88,