JAB WE MET LAW: SECTIONS OF COMPANIES ACT

SECTIONS OF COMPANIES ACT CONTINUED FROM 30TH JULY 2008

Part III	Prospectus and Allotment, and other matters relating to issue of shares or debentures.

55	Dating of prospectus.
55A	Powers of Securities and Exchange Board of India
56	Matters to be stated and reports to be set out in prospectus.
57	Expert to be unconnected with formation or management of company.
58	Expert's consent to issue of prospectus containing statement by him.
58A	Deposits not to be invited without issuing an advertisement.
58AA	Small depositors
58AAA	Default in acceptance or refund of deposits to be cognizable
58B	Provisions relating to prospectus to apply to advertisement.
59	Penalty and interpretation.
60	Registration of prospectus.
60A	Filing of Shelf prospectus.
60B	Information memorandum
61	Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied.
62	Civil liability for misstatements in prospectus.
63	Criminal liability for misstatements in prospectus.
64	Document containing offer of shares or debentures for sale to be deemed prospectus.
65	Interpretation of provisions relating to prospectuses.
66	Newspaper advertisement of prospectus.
67	Construction of references to offering shares or debentures to the public, etc.
68	Penalty for fraudulently inducing persons to invest money.
68A	Personation for acquisition, etc., of shares.
69	Prohibition of allotment unless minimum subscription received.
70	Prohibition of allotment in certain cases unless statement in lieu of prospectus delivered to Registrar.
71	Effect of irregular allotment.
72	Application for, and allotment of, shares and debentures.
73	Allotment of shares and debentures to be dealt in on stock exchange.
74	Manner of reckoning fifth, eighth and tenth days in sections 72 and 73.
75	Return as to allotments.
76	Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc.
77	Restrictions on purchase by company, or loans by company for purchase, of its own or its holding company's shares.
77A	Power of company to purchase its own securities
77AA	Transfer of certain sums to capital redemption reserve account
77B	Prohibition for buy-back in certain circumstances.
78	Application of premiums received on issue of shares.
79	Power to issue shares at a discount.
79A	Issue of sweat equity shares
80	Power to issue redeemable preference shares.
80A	Redemption of irredeemable preference share, etc.
81	Further issue of capital.

Part IV	Share Capital and Debentures

82	Nature of shares.
83	Numbering of shares [Omitted w.e.f. 20-9-1995]
84	Certificate of shares.
85	Two kinds of share capital.
86	New issues of share capital to be only of two kinds.
87	Voting rights.
88	Prohibition of issue of shares with disproportionate rights.
89	Termination of disproportionately excessive voting rights in existing companies.
90	Savings.
91	Calls on shares of same class to be made on uniform basis.
92	Power of company to accept unpaid share capital, although not called up.
93	Payment of dividend in proportion to amount paid-up.
94	Power of limited company to alter its share capital.
94A	Share capital to stand increased where an order is made under section 81(4).
95	Notice to Registrar of consolidation of share capital, conversion of shares into stock, etc.
96	Effect of conversion of shares into stock.
97	Notice of increase of share capital or of members.
98	Power of unlimited company to provide for reserve share capital on re-registration.
99	Reserve liability of limited company.
100	Special resolution for reduction of share capital.
101	Application to Court for confirming order, objections by creditors and settlement of list of objecting creditors.
102	Order confirming reduction and powers of Court on making such order.
103	Registration of order and minute of reduction.
104	Liability of members in respect of reduced shares.
105	Penalty for concealing name of creditor, etc.
106	Alteration of rights of holders of special classes of shares.
107	Rights of dissentient shareholders.
108	Transfer not to be registered except on production of instrument of transfer.
108A	Restriction on acquisition of certain shares.
108B	Restriction on transfer of shares.
108C	Restriction on the transfer of shares of foreign companies.
108D	Power of Central Government to direct companies not to give effect to the transfer.
108E	Time within which refusal to be communicated.
108F	Nothing in sections 108A to 108D to apply to Government companies, etc.
108G	Applicability of the provisions of sections 108A to 108F.
108H	Construction of certain expressions used in sections 108A to 108G.
108I	Penalty for acquisition or transfer of share in contravention of sections 108A to 108D.
109	Transfer by legal representative.
109A	Nomination of shares
109B	Transmission of shares
110	Application for transfer.
111	Power to refuse registration and appeal against refusal.
111A	Rectification of register on transfer.
112	Certification of transfers.
113	Limitation of time for issue of certificates.
114	Issue and effect of share warrants to bearer.
115	Share warrants and entries in register of members.
116	Penalty for personation of shareholder.
117	Debentures with voting rights not to be issued hereafter.
117A	Debenture trust deed
117B	Appointment of debenture trustees and duties of debenture trustees
117C	Liability of company to create security and debenture redemption reserve
118	Right to obtain copies of and inspect trust deed.
119	Liability of trustees for debenture-holders.
120	Perpetual debentures.
121	Power to re-issue redeemed debentures in certain cases.
122	Specific performance of contract to subscribe for debentures.
123	Payments of certain debts out of assets subjects to floating charge in priority to claims under the charge.

124	"Charge" to include mortgage in this Part.
125	Certain charges to be void against liquidator or creditors unless registered.
126	Date of notice of charge.
127	Registration of charges on properties acquired subject to charge.
128	Particulars in case of series o debentures entitling holders pari passu.
129	Particulars in case of commission, etc., on debentures.
130	Register of charges to be kept by Registrar.
131	Index to register of charges.
132	Certificate of registration.
133	Endorsement of certificate of registration on debenture or certificate of debenture stock.
134	Duty of company as regards registration and right of interested party.
135	Provisions of Part to apply to modification of charges.
136	Copy of instrument creating charge to be kept by company at registered office.
137	Entry in register of charges of appointment of receiver or manager.
138	Company to report satisfaction and procedure thereafter.
139	Power of Registrar to make entries of satisfaction and release in absence of intimation from company.
140	Copy of memorandum of satisfaction to be furnished to company.
141	Rectification by Company Law Board of register of charges.
142	Penalties.
143	Company's register of charges.
144	Right to inspect copies of instruments creating charges and company's register of charges.
145	Application of Part of charges requiring registration under it but not under previous law.