Amended and updated notes on section 378ZT of the Companies Act 2013 as amended by the Companies (Amendment) Act, 2020 and Company Rules made there under. Detail discussion on provisions and rules related to Power to modify Act in its application to Producer Companies.
Chapter XXIA PART-XII (Section 378ZS to 378ZU) of the Companies Act 2013 (CA 2013) deals with the provisions related to re-conversion of producer company to inter-state co-operative society. Section 378ZT of CA 2013 provides for Application of provisions relating to Power to modify Act in its application to Producer Companies.
Recently, we have discussed in detail section 378ZS (Re-conversion of Producer Company to inter-State co-operative society) of CA 2013. Today, we learn the provisions of section 378ZT of the Companies Act 2013.
In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2020 (29 of 2020), the Central Government appoints the 11th February, 2021 as the date on which the provisions of section 52 of the Companies (Amendment) Act, 2020 shall come into force.
Accordingly, the provisions of section 378ZT are effective from 11th February, 2021. You may refer Notification No. S.O. 644(E) dated 11-02-2021. In this article, you will learn detail of the provisions of section 378ZT 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. | XXIA (PART-XII) |
| Chapter Name | Re-conversion of producer company to inter-state co-operative society |
| Section No. | 378ZT |
| Section Name | Power to modify Act in its application to Producer Companies |
| Monthly Updated Edition | Company Law PDF |
Section 378ZT: Power to modify Act in its application to Producer Companies
Section 378ZT(1) of Companies Act
The Central Government may, by notification, direct that any of the provisions of this Act (other than those contained in this Chapter) specified in the said notification—
- (a) shall not apply to the Producer Companies or any class or category thereof; or
- (b) shall apply to the Producer Companies or any class or category thereof with such exception or adaptation as may be specified in the notification.
Section 378ZT(2) of Companies Act
A copy of every notification proposed to be issued under sub-section (1), shall be laid in draft before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in disapproving the issue of the notification or both Houses agree in making any modification in the notification, the notification shall not be issued or, as the case may be, shall be issued only in such modified form as may be agreed upon by both the Houses.