Exemption – All classes of financial companies specified to which provisions of the section are not applicable - SO 523(E), - Companies Law

Notification : No. SO 523(E), dated 18 ‑ 9 ‑ 1975. Subject:- Exemption All classes of financial companies specified to which provisions of the section are not applicable S.O. 523(E).- In pursuance of clause (b) of sub‑section (7) of section 58A of the Companies Act, 1956 (1 of 1956), the Central Government, after consultation with the Reserve Bank of India, hereby specifies all classes of financial companies as the companies to which no provisions of section 58A of the Companies Act, 1956 [except the provisions relating to advertisement contained in clause (b) of sub‑section (2) of that section] shall, for the purpose of that clause, apply. Explanation . For the purpose of this notification, financial company means a non‑banking company which is a financial institution within the meaning of clause (c) of section 45‑I of the Reserve Bank of India Act, 1934 (2 of 1934).