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[Section 383A] [Complete Act]
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Central Government Act
Section 383A(2) in The Companies Act, 1956
(2) Where, at the commencement of the Companies (Amendment) Act, 1974 (31 of 1974 ),--
(a) any firm or body corporate is holding office, as the secretary of a company, such firm or body corporate shall, within six months from such commencement, vacate office as secretary of such company;
(b) any individual is holding office as the secretary of more than one company having a paid- up share capital of
1. The word" annual" omitted by Act 65 of 1960, s. 144.
2. Ins by Act 41 of 1974, s. 30. (w. e. f. 1- 2- 1975 ).
3. Subs. by Act 31 of 1988, s. 53 (w. e. f. 1- 12- 1988 ).
4. Ins. by s. 53, ibid.
rupees twenty- five lakhs or more, he shall, within a period of six months from such commencement, exercise his option as to the company of which he intends to continue as the secretary and shall, on and from such date, vacate office as secretary in relation to all other companies.] B. MANAGERS