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Start Free TrialCompanies Act, 1956 Chapter 3
Title: Managing Agents
State: Central
Year: 1956
.....(Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 344 - Managing agency not to be heritable after commencement of Act [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 345 - Succession to managing agency by inheritance or devise under agreement before commencement of Act, to be subject to Central Government's approval [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 346 to 347 - Changes in constitution of firms and corporations Section 346 - Changes in constitution of managing agency, firm or corporation to be approved by Central Government [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 347 - Application of Schedule VIII to certain managing agents [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). Section 348 to 355 - Remuneration of managing agents Section 348 - Remuneration of managing agent ordinarily not to exceed 10 per cent. of net profits [Repealed] Rep. by the Companies (Amendment) Act, 2000 (53.....
View Complete Act List Judgments citing this sectionInsurance Act, 1938 (4 of 1938) Section 32
Title: Limitation on Employment of Managing Agents and on the Remuneration Payable to Them
State: Central
Year: 1938
.....in the articles of the insurer, if a company, or in any agreement entered into by the insurer, such managing agent shall cease to hold office on the expiry of three years from the commencement of this Act and no compensation shall be payable to him by the insurer by reason only of the premature termination of his employment as managing agent. (3) After the commencement of this Act, notwithstanding anything contained in the Indian Companies Act, 1913 (7 of 1913), and notwithstanding anything to the contrary contained in any agreement entered into by an insurer or in the articles of association of an insurer being a company, no insurer shall pay to a managing agent and no managing agent shall accept from an insurer as remuneration for his services as managing agent more than two thousand rupees per month in all, including salary and commission and other remuneration payable to and receivable by him, for his services as managing agent.
View Complete Act List Judgments citing this sectionState Financial Corporations Act, 1951 Section 32D
Title: No Right to Compensation for Termination of Contract of Managing Agent, Managing Director, Etc.
State: Central
Year: 1951
1[32D. No right to compensation for termination of contract of managing agent, managing director, etc (1) Notwithstanding anything to the contrary contained in any contract or in any law for the time being in force, no managing agent, managing director or any other director or a manager or any person in charge of management of an industrial concern shall be entitled to any compensation for the loss of office or for the premature termination under this Act of any contract of management entered into by him with such concern. (2) Nothing contained in Sub-section (1) shall affect the right of any such managing agent or managing director, or any other director or manager or any such person in charge of management to recover from the industrial concern, moneys recoverable otherwise than by way of such compensation.] ______________________ 1. Inserted by Act 56 of 1956, section 17 (w.e.f. 1-10-1956).
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 4
Title: Effect of Notify Order Appointing Directors or Managing Agents
State: Central
Year: 1951
.....to has terminated; (c) the managing agent, if any appointed under this Act shall be deemed to have been duly appointed in pursuance of the Company Act and the memorandum and articles of association of the railway company, and the provisions of the Companies Act and of the memorandum and articles shall, subject to the other provisions contained in this Act, apply accordingly but no such managing agent shall be removed from office except with the previous consent of the Central Government. (d) the directors shall take such steps as may be necessary to take in to the I custody or under their control all the property, effect and actionable claims to which the railway company is, or appears to be, entitled, and all the property and effects of the railway company shall be deemed to be in the custody of the directors as from the date of the notify order; (e) the directors shall be for all purposes the directors of the railway company duly constituted under the Companies Act and shall alone been titled to exercise all the powers of the directors of the railway company, whether such powers are derived from the Companies Act or from the memorandum or articles of association of the.....
View Complete Act List Judgments citing this sectionBanking Regulation Act, 1949 Section 10
Title: Prohibition of Employment of Managing Agents and Restrictions on Certain Forms of Employment
State: Central
Year: 1949
.....person concerned; (iv) the remuneration paid toother persons employed by the banking company or to any person occupying asimilar position in any other banking company similarly situated; and (v) the interests of itsdepositors. 6 [7 [***].] (6) Anydecision or order of the Reserve Bank made under thissection shall be final for all purposes.] ___________________ 1. Subsituted by Act 33 of 1959, Section 6, for the proviso w.e.f.1-10-1959 2. Subsituted by Act 33 of 1959, Section 6 for sub-clause (i) w.e.f.1-10-1959. 3. Subsituted by Act 33 of 1959, Section 6 for sub-clause (i) w.e.f.1-10-1959. 4. Subsituted by Act 55 of 1963, Section 8, for certain words w.e.f.1-2-1964. 5. Subsituted by Act 55 of 1963, Section 8, for the first provisow.e.f. 1-2-1964. 6. Subsituted by Act 33 of 1959, Section 6, for sub-section (3)w.e.f. 1-10-1959. 7. Sub-sections (3), (4) and (5) omitted by Act 55 of 1963, Section 8w.e.f. 1-2-1964.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 239
Title: Power of Inspectors to Carry Investigation into Affairs of Related Companies, or of Managing Agent or Associate Etc
State: Central
Year: 1956
.....to in clause (b) (ii), (b) (iii), (c) or (d) of sub-section (1), the inspector shall not exercise his power of investigating into, and reporting on, its or his affairs without first having obtained the prior approval of the Central Government thereto: Provided that before according approval under this sub-section, the Central Government shall give the body corporate or person a reasonable opportunity to show cause why such approval should not be accorded.] ___________________ 1 . Substituted by Act 65 of 1960, Section 74, for section 239 (w.e.f. 28-12-1960). 2 . Substituted by Act 53 of 2000, Section 116, for clause (b) (w.e.f. 13-12-2000). 3 . Substituted by Act 53 of 2000, Section 116, for clause (d) (w.e.f. 13-12-2000). 4 . Substituted by Act 53 of 2000, Section 116, for certain words (w.e.f. 13-12-2000).
View Complete Act List Judgments citing this sectionRailway Companies (Emergency Provisions) Act, 1951 Section 11
Title: No Right to Compensation for Termination of Contract of Managing Agent or Any Other Contract
State: Central
Year: 1951
(1) Not with standing any thing contained in the Companies Act or in any other law for the time being in force, no managing agent shall be entitled to any compensation for the premature termination under this Act of any contract of management entered into by him with the railway company, and no person shall be entitled to compensation in respect of the cancellation or variation under this Act of any other contract or agreement. (2) Nothing contained in sub-section (1) shall affect the right of any such managing agent or person to recover from the railway company moneys recoverable otherwise than by way of such compensation.
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 204A
Title: Restrictions on the Appointment of Former Managing Agents or Secretaries and Treasurers to Any Office [Repealed]
State: Central
Year: 1956
1[204A . Restrictions on the appointment of former managing agents or secretaries and treasurers to any office.- [Repealed by the Companies (Amendment) Act, 2000 (53 of 2000) Section 91 (w.e.f. 13-12-2000)]. ____________________ 1. Inserted by Act 41 of 1974, Section 17 (w.e.f. 1-2-1975).
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Section 325A
Title: Subsidiary of a Body Corporate Not to Be Appointed as Managing Agent [Repealed]
State: Central
Year: 1956
1[325A. Subsidiary of a body corporate not to be appointed as managing agent Rep. by the Companies (Amendment) Act, 2000 (53 of 2000), sec. 159 (w.e.f. 13-12-2000). _______________________ 1. Section 325A Inserted by Act 65 of 1960, Section 121 (w.e.f. 28-12-1960).
View Complete Act List Judgments citing this sectionCompanies Act, 1956 Part 6
Title: Management and Administration
State: Central
Year: 1956
.....Act, 1996, shall be deemed to be an index of members and register and index of debenture-holders, as the case may be, for the purposes of this Act.] ____________________ 1. Inserted by Act 22 of 1996, Section 30 and Schedule (w.r.e.f. 20-9-1995). Section 153 - Trusts not to be entered on register No notice of any trust, express, implied or constructive, shall be entered on the register of members or of debenture-holders1[***] ____________________ 1. The words "or be receivable by the Registrar" omitted by Act 53 of 1963, Section 6 (w.e.f. 1-1-1964). Section 153A - Appointment of public trustee 1[153A. Appointment of public trustee 2[(1)] The Central Government may, by notification in the Official Gazette, appoint a person as public trustee to discharge the functions and to exercise the rights and powers conferred on him by or under this Act.] 3[(2) The provision of this section shall not apply on and after the commencement of the Companies (Amendment) Act, 2000.] ____________________ 1. Inserted by Act 53 of 1963, Section 7 (w.e.f. 1-1-1964). 2. Section 153A renumbered as sub-section (1) thereof by Act 53 of 2000, Section 63 (w.e.f. 13-12-2000)......
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