Amended and updated notes on section 416 of Companies Act 2013. Detail discussion on provisions and rules related to resignation of Members.
Chapter XXVII (Sections 407-434) of the Companies Act, 2013 (CA 2013) deals with the provisions related to National Company Law Tribunal and Appellate Tribunal i.e. NCLT and NCLAT. Section 416 of CA 2013 provides for resignation of Members.
Recently, we have discussed in detail section 415 (Acting President and Chairperson of Tribunal or Appellate Tribunal) of CA 2013. Today, we learn the provisions of section 416 of the Companies Act 2013.
The provisions of section 416 are effective from 1st June, 2016. You may refer Notification No. S.O. 1934(E) dated 1-06-2016. In this article, you will learn detail of the provisions of section 416 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. | XXVII |
| Chapter Name | National Company Law Tribunal and Appellate Tribunal |
| Section No. | 416 |
| Section Name | Resignation of Members |
| Monthly Updated Edition | Company Law PDF |
Section 416 of Companies Act 2013: Resignation of Members
Section 416 shall come into force on 1st June, 2016 vide Notification No. S.O. 1934(E) issued dated 01.06.2016.
The President, the Chairperson or any Member may, by notice in writing under his hand addressed to the Central Government, resign from his office:
Provided that the President, the Chairperson, or the Member shall continue to hold office until the expiry of three months from the date of receipt of such notice by the Central Government or until a person duly appointed as his successor enters upon his office or until the expiry of his term of office, whichever is earliest.