TMI BlogExemptions to Section 8 (Non-Profit) under section 462 of CA 2013X X X X Extracts X X X X X X X X Extracts X X X X ..... spects things done or omitted to be done before such supersession, the Central Government in the interest of public, hereby directs that certain provisions of the Companies Act, 2013 , as specified in column (2) of the Table, shall not apply or shall apply with such exceptions, modifications and adaptations, as specified in column (3) of the said Table, to a body to which a licence is granted under the provisions of the aforesaid section 8, namely :- Serial Number Provisions of the Act Exceptions, Modifications and Adaptations (1) (2) (3) 1. Clause (24) of section 2. The provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... words fourteen days shall be substituted. 1 [8. Clause (b) and first proviso to sub-section (1) of section 149. Shall not apply.] 9. Sub-sections (4), (5), (6), (7), (8), (9), (10), (11), clause (i) of sub-section (12) and sub-section (13) of section 149. Shall not apply. 10. Section 150. Shall not apply. 11. Proviso to sub-section (5 of section 152. Shall not apply. 12. Section 160 . Shall not apply to companies whose articles provide for election of dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons of the contract or arrangement exceeds one lakh rupees. 2 [19A. Sub-section (7) of section 186. In sub-section (7), the following proviso shall be inserted, namely:- Provided that nothing contained in this sub-section shall apply to a company in which twenty-six per cent or more of the paid-up share capital is held by the Central Government or one or more State Governments or both, in respect of loans provided by such company for funding Industrial Research and Development projects in furtherance of its objects as stated in its memorandum of association. 20. Section 189. Shall apply only if the transaction with reference to section 188 o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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