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Reference Number
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Provision of Companies Act, 1963
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Modifications
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(1)
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(2)
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(3)
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1.
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Section 135
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The reference to an application to the High Court by any director of a company or any member of a company shall be construed as a reference to an application to the court by the administrator.
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2.
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Section 148
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The obligation on directors of a company to lay a profit and loss account and a balance sheet before the annual general meeting of the company shall be construed as an obligation on the administrator to deliver a profit and loss account and a balance sheet to the registrar of companies not later than six months after the end of the year to which they relate.
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3.
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Section 150
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The obligation to lay group accounts (within the meaning of the
Companies Act, 1963
) of a company before the annual general meeting of the company shall be construed as an obligation on the administrator to deliver group accounts (within the meaning aforesaid) to the registrar of companies not later than six months after the end of the year to which they relate.
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4.
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Section 156
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The obligation that every balance sheet and profit and loss account of a company shall be signed on behalf of the directors by two or three, as the case may be, of the directors shall be construed as an obligation that every such balance sheet and profit and loss account shall be signed by the administrator.
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5.
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Section 158
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The obligations specified in subsection (1) shall be construed as an obligation on the administrator to deliver to the registrar of companies, not later than six months after the end of the year to which it relates, a report by him on the state of the company's affairs and, if the company is a holding company, on the state of affairs of the company and its subsidiaries as a group.
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6.
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Section 160
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The duty of a company to appoint and re-appoint an auditor or auditors shall be construed as a duty of the court, on the application of the administrator, to appoint an auditor or auditors to hold office for such period as may be determined by the court and, on the application of the administrator, to re-appoint an auditor or auditors as occasion requires for such period as may be determined by the court and, on the application of the administrator and having heard any submission of the auditor or auditors concerned, to remove at any time an auditor or auditors and to appoint in his or their place another person or other persons for such period as may be determined by the court.
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The power of the directors of a company to fill any casual vacancy in the office of auditor shall be construed as a power of the court, on the application of the administrator, to fill any such vacancy.
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The power of a company and of the directors of a company to fix the remuneration of the auditors of the company shall be construed as a power of the court, on the application of the administrator, to fix such remuneration.
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7.
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Section 163
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The obligation on the auditors of a company to make a report to the members of the company on the matters specified in the section shall be construed as an obligation on the auditors to deliver such a report to the registrar of companies not later than six months after the end of the year to which it relates.
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8.
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Section 231
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The powers conferred by subsection (1) shall be exercisable by the administrator of an insurer without his having obtained the sanction specified in the subsection.
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