Amended and updated notes on section 183 of Companies Act 2013. Detail discussion on provisions and rules related to power of Board and other persons to make contributions to national defence fund, etc.
Chapter XII (Sections 173–195) of the Companies Act, 2013 (CA 2013) deals with the provisions related to meetings of board and its powers. Section 183 of CA 2013 provides for power of Board and other persons to make contributions to national defence fund, etc.
Recently, we have discussed in detail section 182 (Prohibitions and restrictions regarding political contributions) of CA 2013. Today, we learn the provisions of section 183 of Companies Act 2013.
The provisions of section 183 are effective from 12-Sept-2013. You may refer Notification No. S.O. 2754(E) issued dated 12-09-2013. In this article, you will learn detail of the provisions of section 183 of the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XII |
| Chapter Name | Meetings of Board and its Powers |
| Section No. | 183 |
| Section Name | Power of Board and other persons to make contributions to national defence fund, etc. |
| Monthly Updated Edition | Company Law PDF |
Section 183 of Companies Act 2013: Power of Board and other persons to make contributions to national defence fund, etc.
Section 183 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013.
(1) The Board of Directors of any company or any person or authority exercising the powers of the Board of Directors of a company, or of the company in general meeting, may, notwithstanding anything contained in sections 180, 181 and section 182 or any other provision of this Act or in the memorandum, articles or any other instrument relating to the company, contribute such amount as it thinks fit to the National Defence Fund or any other Fund approved by the Central Government for the purpose of national defence.
(2) Every company shall disclose in its profits and loss account the total amount or amounts contributed by it to the Fund referred to in sub-section (1) during the financial year to which the amount relates.