Friday, August 19, 2016

Section 458 of Companies Act 2013

Section 458 of Companies Act 2013 :-

Delegation by Central Governemnt of its powers and functions.

1.     The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such authority or officer as may be specified in the notification:

Provided that the powers to enforce the provisions contained in section 194 and section 195 relating to forward dealing and insider trading shall be delegated to Securities and Exchange Board for listed companies or the companies which intend to get their securities listed and in such case, any officer authorised by the Securities and Exchange Board shall have the power to file a complaint in the court of competent jurisdiction.

2.     A copy of every notification issued under sub-section (1) shall, as soon as may be after it is issued, be laid before each House of Parliament.

India's Important Case Laws and Landmark Judgments on Companies Act 2013.

Section 458 Companies Act 1956 has been repealed.

No comments:

Post a Comment