| [Passed by the Indian Legislature.] |
| (Received the assent of the Governor General on the 26th November, 1941.) |
An Act further to amend the Indian Companies Act, 1913.
Whereas it is expedient further to amend the Indian Companies Act, 1913 (VII of 1913), for the purposes hereinafter appearing;
It is hereby enacted as follows:-
1. Short title.- This Act may be called the Indian Companies (Amendment) Act, 1941.
2. Amendment of section 104, Act VII of 1913.- In section 104 of the Indian Companies Act, 1913 (VII of 1918) (hereinafter referred to as the said Act),-
(a) after sub-section (2) the following sub-section shall be inserted, namely:-
"(2A) If the registrar is satisfied that in the circumstances of any particular case the period of one month specified in sub-sections (1) and (2) for compliance with the requirements of this section is inadequate, he may extend that period as he thinks fit, and, if he does so, the provisions of sub-sections (1) and (2) shall have effect in that particular case as if for the said period of one month the extended period allowed by the registrar were substituted.";
(b) in the proviso to sub-section (3), for the words "within one month after the allotment" the words, brackets and figures "within the time specified in sub-sections (1) and (2)" shall be substituted.
3. Amendment of section 282B, Act VII of 1913.- In sub-section (2) of section 282B of the said Act, for the words "shall be invested, and shall be invested only" the words "shall be either deposited in a Post Office Savings Bank account or invested" shall be substituted, and for the words "which are not so invested shall be" the words "which are not so deposited or invested shall be so deposited or" shall be substituted.