Special provisions - Notification notifying provisions of the Act as not applicable or applicable with modification in relation to companies in Jammu and Kashmir - GSR 71, - Companies Law

Notification : No. GSR 71, dated 29-12-1969. Subject:- Special provisions - Notification notifying provisions of the Act as not applicable or applicable with modification in relation to companies in Jammu and Kashmir GSR 71.- In exercise of the powers conferred by section 620C of the Companies Act, 1956, the Central Government hereby directs that, with effect from the 15 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 Kashmir before the said date. THE SCHEDULE Provisions of the Companies Act, 1956 Extent of application (1) (2) Sub-section (4) of section 89 For the words, figures and letters the 1st day of 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 226 Sub-section (1) of section 226 shall not apply to a 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 Companies (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.