Bare Act Search Results

Companies (Issue of Share Capital with Differential Voting Rights) Rules, 2001 Complete Act

State: Central

Year: 2001

.....company has obtained the approval of share holders in General Meeting by passing resolution as required under the provision of sub-clause (a) of sub-section (1) of section 94 read with sub-section (2) of the said section. 8. the listed public company obtained approval of share holders through Postal Ballot. 9. the notice of the meeting at which resolution is proposed to be passed is accompanied by an explanatory statement stating " (a) the rate of voting rights which the equity share capital with differential voting right shall carry; (b) the scale or in proportion to which the voting rights of such class or type of shares will vary; (c) the company shall not convert its equity capital with voting rights into equity share capital with differential voting rights and the shares with differential voting rights into equity share capital with voting rights; (d) the shares with differential voting rights shall not exceed 25% of the total share capital issued; (e) that a member of the company holding any equity share with differential voting rights shall be entitled to bonus shares, right shares of the same class; (f) the holders of the equity shares with differential.....

Companies Act, 1956 Section 581D

Title: Membership and Voting Rights of Members of Producer Company

State: Central

Year: 1956

.....consists of individuals and Producer institutions, the voting rights shall be computed on the basis of a single vote for every Member. (2) The articles of any Producer Company may provide for the conditions, subject to which a Member may continue to retain his membership, and the manner in which voting rights shall be exercised by the Members. (3) Notwithstanding anything contained in sub-section (1) or sub-section (2), any Producer Company may, if so authorised by its articles, restrict the voting rights to : active Members, in any special or general meeting. (4) No person, who has any business interest which is in conflict with business of the Producer Company, shall become a Member of that Company. (5) A Member, who acquires any business interest which is in conflict with the business of the Producer Company, shall cease to be a Member of that Company and be removed as a Member in accordance with articles.

Companies Act, 2013, Section 47

Title: Voting Rights

State: Central

Year: 2013

(1) Subject to the provisions of section 43 and sub-section (2) of section 50,-- (a) every member of a company limited by shares and holding equity share capital therein, shall have a right to vote on every resolution placed before the company; and (b) his voting right on a poll shall be in proportion to his share in the paid-up equity share capital of the company. (2) Every member of a company limited by shares and holding any preference share capital therein shall, in respect of such capital, have a right to vote only on resolutions placed before the company which directly affect the rights attached to his preference shares and, any resolution for the winding up of the company or for the repayment or reduction of its equity or preference share capital and his voting right on a poll shall be in proportion to his share in the paid-up preference share capital of the company: Provided that the proportion of the voting rights of equity shareholders to the voting rights of the preference shareholders shall be in the same proportion as the paid-up capital in respect of the equity shares bears to the paid-up capital in respect of the preference shares: Provided further that.....

State Bank of India Subsidiary Banks Act, 1959 Section 19

Title: Restriction on Voting Rights

State: Central

Year: 1959

.....Act, 1963 (55 of 1963), Section 30 w.e.f. 1-2-1964. 2. Substituted for the following by the State Bank of India (Subsidiary Banks Laws) Amendment Act, 2007 (Act No. 30 of 2007) "19 - Restriction On Individual Holdings.- (1) No person shall be registered as a shareholder in respect of any shares in a subsidiary bank held by him, whether in his own name or jointly with any other person, in excess of two hundred shares, or be entitled to payment of any dividend on the excess shares held by him, or to exercise any of the rights of a shareholder in respect of such excess shares otherwise than for the purpose of selling them:-- Provided that nothing contained in this sub-section shall apply to-- (a) the State Bank; (b) a State Government; (c) a Corporation; (d) an insurer as defined in the Insurance Act, 1938 (e) a local authority. (f) a co-operative society; (g) a trustee of a public or private religious or charitable trust; (h) a shareholder of an existing bank who is allotted any shares under sub-section (9) of section 13; (2) Notwithstanding anything contained in sub-section (1) no person referred to in the proviso to that sub-section, other than the.....

Companies Act, 1956 Section 87

Title: Voting Rights

State: Central

Year: 1956

(1) Subject to the provisions of section 89 and sub-section (2) of section 92 (a) every member of a company limited by shares and holding any equity share capital therein shall have a right to vote, in respect of such capital, on every resolution placed before the company; and (b) his voting right on a poll shall be in proportion to his share of the paid up equity capital of the company. (2) (a) Subject as aforesaid and save as provided in clause (b) of this sub-section, every member of a company limited by shares and holding any preference share capital therein shall, in respect of such capital, have a right to vote only on resolutions placed before the company which directly affect the rights attached to his preference shares. Explanation.Any resolution for winding up the company or for the repayment or reduction of its share capital shall be deemed directly to affect the rights attached to preference shares within the meaning of this clause. (b) Subject as aforesaid, every member of a company limited by shares and holding any preference share capital therein shall, in respect of such capital, be entitled to vote on every resolution placed before the company at any.....

Companies Act, 1956 Section 89

Title: Termination of Disproportionately Excessive Voting Rights in Existing Companies

State: Central

Year: 1956

.....shares, by whatever name called, of any existing company limited by shares carry voting rights in excess of the voting rights attaching under sub-section (1) of section 87 to equity shares in respect of which the same amount of capital has been paid up, the company shall, within a period of one year from the commencement of this Act, reduce the voting rights in respect of the shares first mentioned so as to bring them into conformity with the voting rights attached to such equity shares under sub-section (1) of section 87. (2) Before the voting rights are brought into such conformity, the holders of the shares in question shall not exercise in respect thereof voting rights in excess of what would have been exercisable by them if the capital paid up on their shares had been equity share capital, in respect of the following resolutions placed before the company, namely: - 1 [(a) any resolution relating to the appointment or re-appointment of a director or to any variation in the terms of an agreement between the company and a managing or whole-time director thereof;] (b) any resolution relating to the appointment of buying or selling agents; 2 [***] (3) If, by reason.....

Companies Act, 2013, Section 106

Title: Restriction on Voting Rights

State: Central

Year: 2013

(1) Notwithstanding anything contained in this Act, the articles of a company may provide that no member shall exercise any voting right in respect of any shares registered in his name on which any calls or other sums presently payable by him have not been paid, or in regard to which the company has exercised any right of lien. (2) A company shall not, except on the grounds specified in sub-section (1), prohibit any member from exercising his voting right on any other ground. (3) On a poll taken at a meeting of a company, a member entitled to more than one vote, or his proxy, where allowed, or other person entitled to vote for him, as the case may be, need not, if he votes, use all his votes or cast in the same way all the votes he uses.

Forward Contracts (Regulation) Act, 1952 Section 9A

Title: Power of Recognised Association to Make Rules Respecting Grouping of Members, Restricting Voting Rights, Etc., in Special Cases

State: Central

Year: 1952

.....Act, 1956. (3) Where, before the commencement of the Forward Contracts (Regulation) Amendment Act, 1957, any rules have been made or amended in relation to any matter referred to in 5 [clauses (b) to (e) and (g)] of sub-section (1), the rules so made or amended shall not be deemed to be invalid or ever to have been invalid merely by reason of the fact that the rules so made or amended are repugnant to any of the provisions of the Companies Act, 1956.] _______________________ 1. Inserted by the Forward Contracts (Regulation) Amendment Act, 1957 (32 of 1957), Section 2 (17-9-1957). 2. New clause (a) inserted and original clauses (a) to (e), relettered as (b), (c) (d), (e) and (g) respectively by Act 62 of 1960, Section 9 (28-12-1960). 3. Inserted by Act 62 of 1960, Section 9 (28-12-1960). 4. Substituted for clauses (a), (b), (c) and (d), by Act 62 of 1960, Section 9 (28-12-1960). 5. Substituted for "clauses (a) to (e)" by Act 62 of 1960, Section 9 (28-12-1960).

Insurance Act, 1938 (4 of 1938) Section 6A

Title: Requirements as to Capital Structure and Voting Rights and Maintenance of Registers of Beneficial Owners of Shares

State: Central

Year: 1938

.....the expressions "group" and "same management" shall have the same meanings respectively assigned to them in the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969).] (5) Every person who has any interest in any share of a company referred to in sub-section (4) which stands in the name of another person in the register of members of the company, shall, within thirty days from the commencement of the Insurance (Amendment) Act, 1950, or from the date on which he acquires such interest, whichever is later, make a declaration in the prescribed form (which shall be countersigned by the person in whose name the shares is registered) to the company declaring his interest in such share, and notwithstanding anything contained in any other law or in any contract to the contrary, a person who fails to make a declaration as aforesaid in respect of any share shall be deemed to have no right or title whatsoever in that share: Provided that nothing in this sub-section shall affect the right of a person who has an interest in any such share to establish in a Court his right thereto, if the person, in whose name the share is registered, refuses to countersign the declaration as.....

Small Industries Developement Bank of India Act, 1989 Section 4E

Title: Restriction on Exercising of Voting Right

State: Central

Year: 1989

1[4E. Restriction on exercising of voting right Every shareholder of the Small Industries Bank holding equity shares shall have a right to vote in respect of such shares on every resolution and his voting right on a poll shall be in proportion to his share of the paid-up equity share capital of the Small Industries Bank: Provided, however, that no shareholder, other than the Development Bank, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government, shall be entitled to exercise voting rights in respect of any equity shares held by him in excess of ten per cent. of the issued equity share capital.] ________________________ 1. Inserted by Act 7 of 2000, sec. 3 (w.e.f. 27-3-2000).