The Companies Act, 2013

Act No. 18

29-Aug-2013

Section 1 — Short title, extent, commencement and application

1. Short title, extent, commencement and application.

(1)This Act ma y be called the Companies Act, 2013.

(2)It extends to the whole of India.

(3)This section shall come into force at once and the remaining provisions of this Act shall come into force on such date1 as the Central Government may, by notification in the Off icial Gazette appoint.

(1)and sub -section ( 2) of section 23; sub -section ( 3) of section 25; ss. 26, 27 and 28; sub -section ( 3) of s. 33; clause ( e) of sub -section ( 1) of s. 35; sub -section ( 4) of s. 39; sub -section ( 6) of s. 40; ss. 41, 42 and 43; ss. 46 and 47; ss. 52, 53 and 54; s. 55 [except sub -section ( 3)]; s. 56; s. 61 [except proviso to clause ( b) of sub -section ( 1)];

(4)The provisions of this Act shall apply to -

(a)companies incorporated under this Act or under any previous company law;

(b)insurance companies, except in so far as the said provisions are inconsistent with the provisions of the Insurance Act, 1938 (4 of 1938) or the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);

(c)banking companies, except in so far as the said provisions are inconsistent with the provisions of the Banking Regulation Act, 1949 (10 of 1949);

(d)companies engaged in the ge neration or supply of electricity, except in so far as the said provisions are inconsistent with the provisions of the Electricity Act, 2003 (36 of 2003);

(f)such body corporate, incorporated by any Act for the time being in force, as the Central Govern ment may, by notification, specify in this behalf, subject to such exceptions, modifications or adaptation, as may be specified in the notification.

Section 2 — Definitions

2. Definitions. -In this Act, unless the context otherwise requires, -

(1)“abridged prospectus ” means a memo randum containing such salient features of a prospectus as may be specified by the Securities and Exchange Board by making regulations in this behalf;

(2)“accounting standards ” means the standards of accounting or any addendum thereto for companies or cla ss of companies referred to in section 133;

(3)“alter” or “alteration ” includes the making of additions, omissions and substitutions;

(4)“Appellate Tribunal ” means the National Company Law Appellate Tribunal constituted under section 410;