Amendments in schedule XIII under powers conferred by sub section (1) of section 641 of the Companies Act, 1956.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE AND COMPANY AFFAIRS

(DEPARTMENT OF COMPANY AFFAIRS)

NOTIFICATION

New Delhi, the 30th September, 2002

G.S.R. 670(E). – In exercise of the powers conferred by sub section (1) of section 641 of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following further amendments in schedule XIII to the said Act, namely : –

1. In the said schedule, in Part I, in clause (e) –

(i)  for the word “Explanation.-” shall be re-numbered as “Explanation I.-“;

(ii) after the Explanation so re-numbered, the following Explanation shall be inserted, namely :-

“Explanation II : This condition shall not apply to the companies in Special Economic Zones as notified by Department of Commerce from time to time:

Provided that a person, being a non-resident in India shall enter India only after obtaining a proper Employment Visa from the concerned Indian mission abroad. For this purpose, such person shall be required to furnish, along with the visa application form, profile of the company, the principal employer and terms and conditions of such person’s appointment.”

2. It shall come into force on the date of its publication in the Official Gazette.

(File No. 5/25/2002-CL.V)

Rajiv Mehrishi

Joint Secretary to the Government of India

Note :- The Principal Schedule was inserted by the Companies (Amendment) Act, 1988 vide GSR No. 559(E) dated 10.06.1988 and subsequently amended vide –

(i) GSR 784 (E) dated 13.07.1988

(ii) GSR 723 (E) dated 18.09.1990

(iii) GSR 510 (E) dated 14.07.1993

(iv) GSR 48 (E) dated 01.02.1994

(v) GSR 418 (E) dated 12.09.1996

(vi)

(vii) GSR   36 (E) dated 16.01.2002

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