Amendment of section 49

In force As on 07 Oct 2026

Ministry Finance

Section 145 of the Finance Act, 2021 deals with amendment of section 49. Amendment of section 49. 145. In the principal Act, in section 49,— (i) | in sub-section (1), for the word "Corporation", the word "Board" shall be substituted;

Amendment of section 49.
145. In the principal Act, in section 49,—
(i) in sub-section (1), for the word "Corporation", the word "Board" shall be substituted;
(ii) in sub-section (2),—
(a) in clause (a), for the word "Corporation", the word "Board" shall be substituted;
(b) clause (c) shall be omitted;
(c) in clause (e), for the word "Fund", the words "fund or funds" shall be substituted;
(d) for clause (h), the following clause shall be substituted, namely:—
"(h) the manner in which meetings of the Board and its Committees shall be held, the business to be transacted and procedure to be followed thereat, and the quorum therefor;";
(e) clause (i) shall be omitted;
(f) after clause (m), the following clauses shall be inserted, namely:—
"(n) the manner of election of directors under clause (f) of sub-section (2) of section 4;
(o) the form and manner of registers to be kept and maintained under sub-section (1) of section 5B;
(p) the manner of nomination by an individual registered member or joint holder of shares, the manner of variation or cancellation of such nomination, and the manner of nomination in favour of a minor, under section 5E;
(q) the manner in which and the conditions subject to which shares, including partly paid-up shares, may be issued, held, transferred and registered;
(r) the maintenance and operation of the funds and reserves under section 24;
(s) the form and manner in which the books and records referred to in section 24A may be kept;";
(iii) after sub-section (2), the following sub-section shall be inserted, namely:—
"(2A) Any reference in the regulations as in force immediately before the coming into force of section 132 of the Finance Act, 2021 to "Investment Committee" shall be construed as a reference to the Investment Committee of the Board referred to in section 19A.".
Section 145, The Finance Act, 2021.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

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Questions about Section 145

What does Section 145 of the Finance Act deal with?

Section 145 of the Finance Act is headed "Amendment of section 49". Amendment of section 49. 145. In the principal Act, in section 49,— (i) | in sub-section (1), for the word "Corporation", the word "Board" shall be substituted;

How do I find court cases under Section 145 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 145, section 145 Finance Act 2021, section 145 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 145 of the Finance Act, and has it changed?

Its own text turns on section 4 (Amendment of section 9A), section 24 (Amendment of section 56), section 49 (Amendment of section 153C), section 132 (Substitution of section 19), 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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(i)		in sub-section (1), for the word "Corporation", the word "Board" shall be substituted;
(ii)		in sub-section (2),—

(a)		in clause (a), for the word "Corporation", the word "Board" shall be substituted;
(b)		clause (c) shall be omitted;
(c)		in clause (e), for the word "Fund", the words "fund or funds" shall be substituted;
(d)		for clause (h), the following clause shall be substituted, namely:—
		"(h) the manner in which meetings of the Board and its Committees shall be held, the business to be transacted and procedure to be followed thereat, and the quorum therefor;";
(e)		clause (i) shall be omitted;
(f)		after clause (m), the following clauses shall be inserted, namely:—

		"(n) the manner of election of directors under clause (f) of sub-section (2) of section 4;
		(o) the form and manner of registers to be kept and maintained under sub-section (1) of section 5B;
		(p) the manner of nomination by an individual registered member or joint holder of shares, the manner of variation or cancellation of such nomination, and the manner of nomination in favour of a minor, under section 5E;
		(q) the manner in which and the conditions subject to which shares, including partly paid-up shares, may be issued, held, transferred and registered;
		(r) the maintenance and operation of the funds and reserves under section 24;
		(s) the form and manner in which the books and records referred to in section 24A may be kept;";

(iii)		after sub-section (2), the following sub-section shall be inserted, namely:—
		"(2A) Any reference in the regulations as in force immediately before the coming into force of section 132 of the Finance Act, 2021 to "Investment Committee" shall be construed as a reference to the Investment Committee of the Board referred to in section 19A.".