Professional Documents
Culture Documents
death, insolvency ,insanity etc. of any member of a company does not affect the
continuity of the company. thus the life of the company does not depend upon the life of
its members.
the Model Articles do not allow for the issue of nil or partly paid shares;
they do not contain provisions for alternate directors which could be useful for
companies where directors are to be absent for extended periods;
they contain no provisions expressly covered by the Act such as members rights,
proxies, meetings regimes, share pre-emption or directors conflicts, assuming instead that
all directors have sufficient knowledge of the Act in detail clearly an unreasonable
assumption in the majority of owner managed businesses;
they do not contain any provisions for a change of name to be effected by board
resolution;
they include no provision for the appointment of a company secretary if the company
has one.
carried on by other
Make the markets work for the benefit and welfare of consumers.
being
an
authorized
person.
(b) Make any payment to or for the credit of any person resident outside India in
any
manner.
behalf
of
any
person
resident
outside
India
in
any
manner.
persons. Authorised person has been defined in Sec.2(c) of the Act which means
an authorised dealer,MONEY changer, off shore banking unit or any other
person for the time being authorized to deal in foreign exchange or foreign
securities.
SECTIONS 13 and 15 - of the Act deal with penalties and enforcement of the
orders of Adjudicating Authority as well power to compound contraventions