Provision relating to Nidhis and its application, etc.

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..... i or Mutual Benefit Society, as the case may be. (2) The Central Government may, by notification in the Official Gazette, direct that any of the provisions of this Act specified in the notification- (a) shall not apply to any Nidhi or Mutual Benefit Society; or (b) shall apply to any Nidhi or Mutual Benefit Society with such exceptions, modifications and adaptations as may be specified in .....

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..... s section shall, as soon as may be after it has been issued, be laid before each House of Parliament.] ******************** Notes:- 1. Substituted vide The Companies (Amendment) Act, 2017 Dated 03-01-2018 w.e.f. 15-08-2019 before it was read as, 406. Power to modify Act in its application to Nidhis (1) In this section, Nidhi means a company which has been i .....

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..... ment, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or both Houses agree in making any modification in the notification, the notificat .....

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