Sections 177, 255, 256, and 263 Not to Be Apply in Relation to Companies Not Carrying Business for Profit Etc.
1[ 263A . Sections 177 , 255 , 256 and 263 not to apply in relation to companies not carrying business for profit, etc.
Nothing contained in sections 177 , 255 , 256 and 263 shall affect any provision in the articles of a company for the election by ballot of all its directors at each annual general me eting if such company does not carry on business for profit or prohibits the payment of a dividend to its me mbers.]
______________________
1. Inserted by Act 65 of 1960, section 88 (w.e.f. 28-12-1960).