Section 393A: Exemptions under this Chapter
This section allows the Central Government to exempt certain classes of companies from some provisions of this Chapter by issuing a notification.
The section, clause by clause
What the section says
In plain terms
The Central Government may, by notification, exempt any class of—
(a)foreign companies;
(b)companies incorporated or to be incorporated outside India, whether the company has or has not established, or when formed may or may not establish, a place of business in India, as may be specified in the notification, from any of the provisions of this Chapter and a copy of every such notification shall, as soon as may be after it is made, be laid before both Houses of Parliament.]
CHAPTER XXIII GOVERNMENT COMPANIES
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Subs. by Act 1 of 2018, s. 79, for sub-section (2) (w.e.f. 9-2-2018).
- 2. The words “with imprisonment for a term which may extend to six months or” omitted by Act 29 of 2020, s. 54 (w.e.f. 21-12- 2020).
- 3. Subs. by s. 54, ibid., for “fifty thousand rupees, or with both” (w.e.f. 21-12-2020).
- 4. Ins. by s. 55, ibid. (w.e.f. 22-1-2021).
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.