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The Companies Act 1956 was an Act of the Parliament of India, enacted in 1956, which enabled companies to be formed by registration, and set out the responsibilities of companies, their directors and secretaries. [1] It was repealed and replaced by the Companies Act 2013 .
The Companies (Amendment) Bill, 2020. Status: In force. The Companies Act 2013 (No. 18 of 2013) is an Act of the Parliament of India which forms the primary source of Indian company law. It received presidential assent on 29 August 2013, and largely superseded the Companies Act 1956. The Act was brought into force in stages.
The 2013 Companies Act superseded the Companies Act of 1956, under whose provisions Indian corporations previously operated.In addition to the Companies Act, corporations are subject to other regulations administered by the Ministry of Corporate Affairs (MCA), which has two branches: the Regional Director (RD) and the Registrar of Companies (ROC).
In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India. [2] It replaces The Companies Act, 1956 which has proven outmoded in terms of handling 21st century problems. [3]
Passed the House on July 27, 1956 (Passed) Signed into law by President Dwight D. Eisenhower on August 3, 1956. The Indian Relocation Act of 1956 (also known as Public Law 959 or the Adult Vocational Training Program) was a United States law intended to create a "a program of vocational training" for Native Americans in the United States.
Companies Act. Companies Act (with its variations) is a stock short title used for legislation in Botswana, Hong Kong, India, Kenya, Malaysia, New Zealand, South Africa and the United Kingdom in relation to company law. The Bill for an Act with this short title will usually have been known as a Companies Bill during its passage through Parliament .
Citizenship Act: 1955: 57 Companies Act: 1956: 1 University Grants Commission Act: 1956: 3 Bar Councils (Validation of State Laws) Act: 1956: 4 Sales Tax Laws Validation Act: 1956: 7 All-India Institute of Medical Sciences Act: 1956: 25 Hindu Succession Act: 1956: 30 Life Insurance Corporation Act: 1956: 31 Hindu Minority and Guardianship Act ...
The Life Insurance Corporation of India was established on 1 September 1956, when the Parliament of India passed the Life Insurance of India Act, nationalising the insurance industry in India. Over 245 insurance companies and provident societies were merged. [5] [6]