Section 54 - Amendment of section 167 - Companies (Amendment) Act, 2017

Amendment of section 167 54. In section 167 of the principal Act, in sub-section (1),- (i) in clause (a), the following proviso shall be inserted, namely:- Provided that where he incurs disqualification under sub-section (2) of section 164, the office of the director shall become vacant in all the companies, other than the company which is in default under that sub-section. ; (ii) in clause (f), for the proviso the following proviso shall be substituted, namely,- Provided that the office shall not be vacated by the director in case of orders referred to in clauses (e) and (f)- (i) for thirty days from the date of conviction or order of disqualification; (ii) where an appeal or petition is preferred within thirty days as aforesaid against the conviction resulting in sentence or order, until expiry of seven days from the date on which such appeal or petition is disposed of; or (iii) where any further appeal or petition is preferred against order or sentence within seven days, until such further appeal or petition is disposed of. .