Company Law Board (Amendment) Regulations, 1995 - Substitution of regulation 4 and insertion of regulation 50 - GSR 374(E), - Companies Law

NOTIFICATION NO. GSR 374(E), DATED 2-5-1995, ISSUED BY THE COMPANY LAW BOARD, GOVERNMENT OF INDIA Subject:- Company Law Board (Amendment) Regulations, 1995 - Substitution of regulation 4 and insertion of regulation 50 G.S.R. 374(E).- In exercise of the powers conferred by sub-section (6) of section 10E of the Companies Act, 1956 (1 of 1956), the Company Law Board hereby amends the Company Law Board Regulations, 1991, namely : 1. (1) These regulations may be called the Company Law Board (Amendment) Regulations, 1995. (2) They shall come into force on the date of their publication in the Official Gazette. 2. For regulation 4 of the Company Law Board Regulations, 1991 (hereinafter referred to as Principal Regulation) the following shall be substituted, namely : 4. "Power of the Chairman to specify matters which may be dealt with by a Bench. (1) It shall be lawful for the Chairman to provide that matters falling under sections 235, 237, 247, 248, 250, 388B, 408 and 409 and matters falling under Chapter VI of Part VI of the Act and under section 2A of the Monopolies Act shall be dealt with by a Bench consisting of not less than two members including the Chairman or the Vice Chairman (which shall be known as the Principal Bench). (2) The Principal Bench shall be at New Delhi but the Principal Bench may sit at such places in India and at such time as may be most convenient in exercise of its powers and functions in India. (3) It shall be lawful for the Chairman to provide the matters falling under sections 111 and 269 of the Act and under section 22A of the Securities Act shall be dealt with by a Bench consisting of not less than two members. (4) All other matters including interlocutory and miscellaneous applications connected with the matters falling under sub-regulations (1) and (3) of this regulation may be heard and decided by a Bench consisting of a single member: Provided that notwithstanding anything contained in regulation 7, it shall be lawful for the Chairman to transfer any matters pending before any Regional Bench to the Principal Bench, for reasons to be recorded in writing." 3. In the Principal Regulation, after Regulation 49, the following shall be inserted, namely : "50. Dress for the members, for the Authorised Representatives and for the parties in person : (1) For the Members : The dress for the members will be suit with a tie or buttoned-up coat over a pant. (2) For the Authorised Representatives : An Authorised Representative who is a professional, shall appear before the Bench in his/her professional dress, if any, and if there is no such dress, (a) In the case of male, a suit with a tie or buttoned-up coat over a pant. (b) In the case of female, in a saree or any other dress of a sober colour. (3) For parties in person : Parties appearing in person before the Company Law Board shall be properly dressed.