Daily Email Newsletter (Sign-up Free)

Companies (Donations to National Funds) Act 1951 — Bare Act

(Act No. 54 of 1951)

[The Act received the assent of President of India on 17th October, 1951 and was published by Ministry of Law in the Gazette of India on 18th October, 1951.]

An Act to enable companies to make donations to National funds.

BE it enacted by Parliament as follows:—

1. Short title and extent.—
(1) This Act may be called the Companies (Donations to National Funds) Act, 1951.
(2) It extends to the whole of India except the State of Jammu and Kashmir.

2. Definitions.—

In this Act,—
(a) "company" means a company as defined in section 2 of the companies Act, and includes a company deemed to be incorporated and registered under that Act by virtue of section 2B thereof;
(b) "the Companies Act" means the Indian Companies Act, 1913 (7 of 1913).

3. Power of companies to make donations to certain National Funds.—

Any company may, notwithstanding anything contained in the companies Act or in any other law for the time being in force regulating the affairs thereof, and notwithstanding that the memorandum or articles of association of the company do not enable it so to do, by an extraordinary resolution passed in accordance with the provisions contained in section 81 of the Companies Act, authorise the making of donations to the Gandhi National Memorial Fund or the Sardar Vallabhbhai National Memorial Fund, or to any other Fund established for a Charitable purpose which by reason of its national importance has been approved by the Central Government for the purposes of this section.

4. Repeal of Act XXXV of 1948.—

The Gandhi National Memorial Fund Donations (Companies) Act, 1948, is hereby repealed.

Extra Notes for Readers

(1) The Act was extended to the Union territory of Pondicherry by Act 26 of 1968, s. 3 and Schedule.

(2) The Indian Companies Act, 1913 has been repealed. The current Indian company law enactment is the Companies Act, 2013.

(3) Section 4 of this Act was repealed by the Repealing and Amending Act, 1957 (36 of 1957), s. 2 and Schedule I.

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.