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1951_The_Companies_Act.md

1951_The_Companies_Act.md 2.0 KB
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THE COMPANIES (DONATIONS TO NATIONAL FUNDS) ACT, 1951

ARRANGEMENT OF SECTIONS

SECTIONS

  1. Short title and extent.
  2. Definitions.
  3. Power of companies to make donations to certain National Funds.
  4. Repeal of Act 35 of 1948.

THE COMPANIES (DONATIONS TO NATIONAL FUNDS) ACT, 1951 ACT NO. 54 OF 1951[^1]

[17th October, 1951.]

An Act to enable companies to make donations to National funds.

BE it enacted by Parliament as follows:—

  1. Short title and extent.—(1) This Act may be called the Companies (Donations to National Funds) Act, 1951.

(2) It extends to the whole of India except the State of Jammu and Kashmir[^2].

  1. Definitions.—In this Act,—

(a) “company” means a company as defined in section 2 of the companies Act, and includes a company deemed to be incorporated and registered under that Act by virtue of section 2B thereof;

(b) “the Companies Act” means the Indian Companies Act, 1913 (7 of 1913).

  1. Power of companies to make donations to certain National Funds.—Any company may, notwithstanding anything contained in the companies Act or in any other law for the time being in force regulating the affairs thereof, and notwithstanding that the memorandum or articles of association of the company do not enable it so to do, by an extraordinary resolution passed in accordance with the provisions contained in section 81 of the Companies Act, authorise the making of donations to the Gandhi National Memorial Fund or the Sardar Vallabhbhai National Memorial Fund, or to any other Fund established for a Charitable purpose which by reason of its national importance has been approved by the Central Government for the purposes of this section.

[^1]. Extended to the Union territory of Pondicherry by Act 26 of 1968, s. 3 and Schedule. [^2]. Vide notification No. S.O. 3912(E), dated 30th October, 2019, this Act is made applicable to the Union territory of Jammu and Kashmir and the Union territory of Ladakh.