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(2) For the purpose of the provisions of this Act relating to the memorandum of a company limited by guarantee and of this section, every provision in the memorandum or articles, or in any resolution, of any company limited by guarantee and registered on or after the first day of April, 1914 , purporting to divide the undertaking of the company into shares or interests, shall be treated as a provision for a share capital, notwithstanding that the nominal amount or number of the shares or interests is not specified thereby. sub- section (1) of section 39 or in any other agreement, or any resolution, referred to in section 192, every copy of the memorandum, articles, agreement or resolution issued after the date of the alteration shall be in accordance with the alteration.
(2) If, at any time, the company issues any copies of the memo- randum, articles, resolution or agreement, which are not in accordance with the alteration or alterations made therein before that time, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to ten rupees for each copy so issued.
(3) For the purposes of jurisdiction to wind up companies, the expression" registered office" means the place which has longest been the registered office of the company during the six months immediately preceding the presentation of the petition for winding up.
As soon as may be after the commencement of the Companies (Amendment) Act, 1988 , the Central Government shall, by notification in the Official Gazette, constitute a Board to be called the Board of Company Law Administration.
(2) From the date of incorporation mentioned in the certificate of incorporation, such of the subscribers of the memorandum and other persons, as may from time to time be members of the company, shall be a body corporate by the name contained in the memorandum, capable forthwith of exercising all the functions of an incorporated company, and having perpetual succession and a common seal, but with such liability on the part of the members to contribute to the assets of the company in the event of its being wound up as is mentioned in this Act. (1) Subject to the provisions of this Act, the memorandum and articles shall, when registered, bind the company and the members thereof to the same extent as if they respectively had been signed by the company and by each member, and contained covenants on its and his part to observe all the provisions of the memorandum and of the articles.
(1) In the case of a company limited by guarantee and not having a share capital, and registered on or after the first day of April, 1914 , every provision in the memorandum or articles or in any resolution of the company purporting to give any person a right to participate in the divisible profits of the company otherwise than as a member shall be void. Notwithstanding anything in the memorandum or articles of a company, no member of the company shall be bound by an alteration made in the memorandum or articles after the date on which he became a member, if and so far as the alteration requires him to take or subscribe for more shares than the number held by him at the date on which the alteration is made, or in any way increases his liability as at that date, to contribute to the share capital of, or otherwise to pay money to, the company: (b) in any case where the company is a club or the company is any other association and the alteration requires the member to pay recurring or periodical subscriptions or charges at a higher rate although he does not agree in writing to be bound by the alteration.] (1) A company shall, on being so required by a member, send to him within seven days of the requirement and subject to the payment of a fee of one rupee, a copy each of the following documents as in force for the time being- (2) If a company makes default in complying with the requirements of this section, the company, and every officer of the company who is in default, shall be punishable, for each offence, with fine which may extend to fifty rupees.
1 OF 1956 [ 18th January, 1956]An Act to consolidate and amend the law relating to companies and certain other associations. 615, dated the 24th April, 1965 (Gazette of India, Pt. Explanation I.- For the purposes of this Act, references to" secretaries and treasurers" shall be construed as references to any firm or body corporate which was, at any time before the 3rd day of April, 1970 , secretaries and treasurers of any company.
(b) a company having the liability of its members limited by the memorandum to such amount as the members may respectively undertake by the memorandum to contribute to the assets of the company in the event of its being wound up (in this Act termed" a company limited by guarantee"); (a) the name of the company with" Limited" as the last word of the name in the case of a public limited company, and with" Private Limited" as the last word of the name in the case of a private limited company; (3) The memorandum of a company limited by guarantee shall also state that each member undertakes to contribute to the assets of the company in the event of its being wound up while he is a member or within one year after he ceases to be a member, for payment of the debts and liabilities of the company, or of such debts and liabilities of the company as may have been contracted before he ceases to be a member, as the case may be, and of the costs, charges and expenses of winding up, and for adjustment of the rights of the contributories among themselves, such amount as may be required, not exceeding a specified amount. (c) be signed by each subscriber (who shall add his address, description and occupation, if any,) in the, presence of at least one witness who shall attest the signature and shall likewise add his. Special provision as to alteration of memorandum consequent on alteration of name of State of Mysore. (2) Without prejudice to the generality of the foregoing power, a name which is identical with, or too nearly resembles, the name by which a company in existence has been previously registered, may be deemed to be undesirable by the Central Government within the meaning of sub- section (1). Change of registration of companies (2) On registration pursuance of this section, the Registrar shall close the former registration of the company, and may dispense with the delivery to him of copies of any documents with copies of which he was furnished on the occasion of the original registration of the company; but, save as aforesaid, the registration shall take place in the same manner and shall have effect, as if it were the first registration of the company under this Act.(4C) Every Bench referred to in sub- section (4B) shall have powers which are vested in a Court under the Code of Civil Procedure, 1908 , (5 of 1908 ).while trying a suit, in respect of the following matters, namely:- Chapter XXVI of the Code of Criminal Procedure, 1973 ], (2 of 1974 ). (b) intends to apply its profits, if any, or other income in promoting its objects, and to prohibit the payment of any dividend to its members, the Central Government may, by licence, direct that the association may be registered as a company with limited liability, without the addition to its name of the word" Limited" or the words" Private Limited".19 of 1857 or in Table A in the First Schedule annexed to the Indian Companies Act, 1882 , (6 of 1882 .) or in Table A in the First 1. Company C is a subsidiary of Company A, by virtue of clause (c) above.This Act has been extended to Goa, Daman and Diu by Regulation 12 of 1962 (with modifications), s. It Company D is a subsidiary of Company C, Company D will be a subsidiary of Company B and consequently also of Company A, by virtue of clause (c) above; and so on.