Amendment of section 48
Section 144 of the Finance Act, 2021 deals with amendment of section 48. Amendment of section 48. 144. In section 48 of the principal Act, in sub-section (2),— (i) | in clause (a), for the word "members", the word "directors" shall be substituted;
Amendment of section 48.
144. In section 48 of the principal Act, in sub-section (2),—
(i) in clause (a), for the word "members", the word "directors" shall be substituted; (ii) for clause (aa), the following clauses shall be substituted, namely:— "(aa) the manner of disclosure of interest by a director under section 4B; (ab) the conditions subject to which the Board may consent to related party transactions under section 4C; (ac) the securities and instruments which may be issued under section 5; (ad) the manner of reservation in favour of life insurance policyholders and allotment against such reservation, in relation to a public issue, under clause (a) of sub-section (9) of section 5;"; (iii) after clause (h), the following clauses shall be inserted, namely:— Section 144, The Finance Act, 2021.
"(ha) the manner in which general meetings shall be held, and the business to be transacted and procedure to be followed thereat; (hb) the quorum for a general meeting, and the manner of holding the meeting if it could not be held for want of quorum and was adjourned under section 23A; (hc) the manner in which persons may attend a general meeting and exercise their vote; (hd) the manner in which notices may be served on behalf of the Corporation upon members or other persons; (he) the form and manner in which the financial statements referred to in sub-section (8) of section 24B may be issued, circulated or published; (hf) matters that may be prescribed under clause (n) of sub-section (1) of section 24C; (hg) the manner and procedure of selection and conditions of appointment of auditors under sub-section (1) of section 25; (hh) the form in which an auditor who has resigned shall indicate the reasons and other facts relevant to the resignation under sub-section (2) of section 25A; (hi) the matters to be prescribed under clause (j) of sub-section (3) of section 25B; (hj) the duties and powers of the Corporation's auditor with reference to the audit of a branch or office of the Corporation and the auditor thereof, under sub-section (6) of section 25B; (hk) the details, procedure and documents under sub-section (6) of section 28C.".
Cross-references
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This section refers to
Questions about Section 144
What does Section 144 of the Finance Act deal with?
Section 144 of the Finance Act is headed "Amendment of section 48". Amendment of section 48. 144. In section 48 of the principal Act, in sub-section (2),— (i) | in clause (a), for the word "members", the word "directors" shall be substituted;
How do I find court cases under Section 144 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2021 144, section 144 Finance Act 2021, section 144 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 144 of the Finance Act, and has it changed?
Its own text turns on section 5 (Insertion of new section 9B), section 25 (Amendment of section 72A), section 48 (Amendment of section 153B), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2021. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule26628 words
- First Schedule. First Schedule9574 words
- 2. Income-tax5993 words
- 6. Amendment of section 103582 words
- 130. Substitution of new section for section 43513 words
- 131. Substitution of new section for section 52699 words
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