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3. dqff q&ft{q, 2013 ff q|{r 462 fi sc-qRr (2) ff 3{}trr{qrr q{ qfsKc-{r * \'d cft {Fq * #i ra=it * qqeT Yrsq sc i {4 .r8 *r j Isr. {i. 1/2/2014-*\rq-! 3l{cfc R'{ qrfucr, ri5s qefi MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 5th June, 2015 G.S.R. 466(E).-In exercise of the powe6 conferred by clauses (a) and (b) of sub-section (l) of Section 462 and in pursuance of sub-scction (2) of said Section read with Section 8 ofthe Companies Acl, 2013 (l8 of 2013), and in supersession ofnotifications issued under section 25 ofthe Companies Act, 1956 (l .f !q56\.y.en, ac.-"-^^rc,hin^c A^6- ^t ^ntn.A b he rln"^ rv,r^rA.,,^h c,.narcaaci^n rha aF.ral Govemm€nt in the interest of public, hereby directs that oertain provisions ofthe Companies Act,2013, as specilied in column (2) of the labie, shail not apply or shall apply with such exceptions, nodifiootions and adaptations, as speoificd in column (3) ofthe said Teble, to a body to which a licence is granted under the provisions ofthe aforesaid Secrion 8, namely' Sc al Nlmber Provisions of th€ Act Erceptions, Modilicationr end Adrpt.iions
(t) (2) (3) I Clause (24) ofsection 2- The provisions ofclause (24) ofsection 2 shall not apply.
2. Clause (68) ofsection 2. The requirehent of having minimun) paid-up share capital shallnot apply.
3. Clause (71) of section 2. The rcquirement of having minimum paid-up share capital sh4Ll uot apply.
4. Sub-section (2) of section 96. ln sub-section (2), after the proviso and before the explanation, the following proviso shall be inserted, namely:-
Provided further that th€ time. alate and Dlace of each annual general meeting arc decided upon b€forc-hand by the board of directors having rcgard to the directions, if any, given in lhis regard by the company in its general meeting.
5. Sub-scclion (l) of seltion l0l. In sub-section (l), for the \rords "twenty one days", the words "fourtem days" shall be substituted.
6. Soction I18. The scclion shall not apply as a whole cxcept tiat minutes may be reoorded within lhirty days of the conclusion of every meoting in case of companies where the articles of association providc for confirmation of minutes by circulation.
1. Sub-section (1) of section
136. In sub-section (l), for the words "twenty one days", the words "fou een days" shall be substituted.
8. Sub-scction (l) ofs€ction 149 and the first proviso to subsection (1). Shall notapply. THE OAZETTE OF INDIA: EXTRAORDINARY IPARr JI._SEC.l(il
9. Sub-sections (4), (5), (6), (7),
(8), (9), (10), (ll), clause (i) of subsection (12) and subsection (13) ofs€ction 149. Shall not apply. t0. Section 150. Shall not apply. tl Proviso to sub-section (5) of section 152. Shall not apply.
12. S€ction 150. Shall not apply to companies whose articles provide foi election ofdirectors by ballot. t3. Sub-seqtion (1) of section 165. Shall not apply. t4. Sub-section (l) of section 173 Shall apply only to the extent that the Board of Dire.tors, of such Compani€s shall hold at least one me€ting within every six colendar months.
15. Sub-s€ction (1) of section 174. In sub-section (l ),--
(a) for the words "one-third of its total sfength or two ,li--r^4 {,tti^La--. ic l"idha." 'La u/^r.l. -airlcr didLt rnembers or trventy 11",e per cent. oi its totai strength whichever is less" shall be substitutedl
(b) the following proviso shall be inserted, namely:- "Provided that the quorum shall not be less than two members".
16. Sub-s€ction (2) of section
171. The words "with independent directors forming a majority" shall be omifted. t7. Section l?8. Shall not apply. tE. Section 179. Matters rcferred to in clauses (d), (e) and (f) of sub-section
(3) may be decided by th€ Boaxd by circulation instead ofat a rneetrns,
19. Sub-seotion (2) of seotion
184. Shall apply only if the transaction with reference to section 188 on the basis of terms and corditions of the conract or arangenent exce€ds one lakh rupees.
20. Sect'on 189. Shall apply only if the transaction with refcrence to section 188 on the basis of terms and conditions of the contract or armngement exce€ds one la&h rup€es.
2. The companies covered under S€ction 8 ofthe CornpaDies Act 2013, while complying with such exceptions, modilioations and adaptations, as specified in column (3) ofthe aforesaid Table, shall ensure that the interests of their sharcholders are proteoted.
3. A copy ofthis notification has been laid in draft beforc both Hous€s of Parliament as required by sub-section (2) ofSection 462 ofthe Companies Aot, 2013. lF. No. l/2/2014-CL.I] AMARDEEP SNGII BI{ATIA, Jt. Secy. Printcd by fie Ms''aser, Govemment of India f'resx Ring Road, Mayapuri, Ncw Dethi I t0064 atrd Publish€d by tlc Conirollcr ofPublicaliors, Delhi-l10054.