Section 55 - Insertion of new section 393A - The Companies (Amendment) Act, 2020

Insertion of new section 393A. 55. After section 393 of the principal Act, the following section shall be inserted, namely:- Exemptions under this Chapter. 393A. The Central Government may, by notification, exempt any class of- (a) foreign companies; (b) companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India, as may be specified in the notification, from any of the provisions of this Chapter and a copy of every such notification shall, as soon as may be after it is made, be laid before both Houses of Parliament. .