The PUNJAB NON-TRADING COMPANIES ACT, 1960

4960 : Pb. Act XXV]_ Non-Trapina Companies 645 THE PUNJAB NON-TRADING COMPANIES ACT, 1960 TABLE OF CONTENTS SECTION. 1. Short title, extent, commencement and application. 2. Definition. 3. Application of Central Act 1 of 1956 to companies to which this Act applies, 4. Power to make rules. 5. Repzals and savings. - 1960 : Pb. Act XXV] Non-TRADING Companies 647 “HE PUNJAB NON-TRADIN ACT, 1960, 0 PUNIAB ACT NO. XXV OF 1960 t gO h o e 0 v1e 1 [ 2 r R t n e h m c M e e l a n y t v , e d 19 t a 6 h z 0 e e tt a a e n s s d e nt s x t o t r f a r ao t r he d i p n G u a o b r v l y é i ) s f h n e o o d r f i t n o h f e th P e u 3 n id j a P b u J n u j n a e o b , n aie ans _— ; —_--—_—_ —— al _ | Whether re pealed or otherwis Year No short title affected by jegislation erwee e f 1960 XXV_ | Th C e o mp P a un n j i a e bi s N A o ct n , - Tr 19 a 6 d 0 i ng ( L T C a h h w e a s n dig o P n a uu d r nj h j S ) a t b a te A a e R n e d z C t o i n o cu n i r s r at e i n of t Subjects) Order, 1968. _ eee ___ AN ACT to pr o w o f i v t i h n d o e n o - b f t j o r r e a c d t i s t n h g e co i c n n o f c m i o n p r e a p d n o i r e a t t s o i o t n a h , n e d r S c e t e g a r u t t e l a a i t n i o o f n o t P h u e a n r n j d a b a . s w s i o n c d i i a n t g i on u s p i _ o T n f r a th d e C i _ ( 1 B h n 2 . E ) a g E n l i d t e I ( t i v / C e ) e g n o n a e a t m r x T c h h p t h t ] e a i e . n s n Y d d e i s a e r b A s y c t t o o t f h A e c t t m h t h a e , e L y e g R w i e h 1 s p 9 b l 6 u e o a 0 l b t . e l u i c r c a e o l f l e o o f d f t he I t n h t d e h i ( e a U S n t i a a P s t o u e n n f j o a o l f b l t o e w P r s u r N i n t o j o n a - r - b — y Shor a t n d a l p s p , l i S ca m t e i a o t n. _& (3) He It s shall a c pp o l m y e t i o n to 2 S f o o n rc e e a t y o a n s c e. d efined in section 2. (Chan ‘ d ‘ F i S o g u r a b r s h t S ) i t t a ut t ( e e A d m d e a n p t t fo a r t o i f t o h n e O bj w e o o c f r t d s L s a w a s n “ d s t © a R n t e e a S s t at o o f e n s, a P n u s d e n é j a C b P o u ” n n j c a u b r by rent G t o he v e S P u u b r n j n j e m c a e t b n s t ) R O G e r a o d z r e e g r t a , t n e i s 1 ( 9 a E 6 t x 8 i - . o n 648 NON-TRADING COMPANIES [1960 : Pb. Act. Xxy Definition. 2. In this Act, ‘company’ means a company formed and registered under this Act, or an existing. company formed and registered under any of the previous companies laws specified in clause (i/) of sub-section (/) of section 3 of the Companies Act, 1956 (Central Act 1 of 1956), and— (1) which is confined in the scope of its Objects to the ‘[Union territory of Chandigarh] ; and (2) which is a non-trading corporation within the meaning of entries 43 and 44 in List I of the Seventh Schedule to the Constitution of India, Application of 3. (/) The provisions of the Companies Act, 1956 1C9e5n6t ra t l o c A o c m t p 1 a nie of s (Central Act 1 of 1956), shall so far as may be, apply to the to which this Act incorporation, regulation and winding up of companies to applies. which this Act applies : P Provided that— (a) the powers and functions vested in the Central Government under those provisions shall be exerciseable and may be exercised by the State Government ; (6) the State Government shall be competent, by notification, to delegate all or any of such powers or functions to such subordinate officer or authority, and subject to such conditions, res- trictions and limitations, as may be specified in the notification : (c) the State Government shall have power by a like notification to relax, omit, add to or vary any provision of the aforesaid Central Act hereby made applicable to companies to which this Act applies ; and (d) the powers, duties and functions of the Regis- trar under the said provisions shall be exercised, discharged and performed by such person as appointed by the State Government, by name or by virtue of office, to be the Registrar, in relation to companies to which this Act applies. ————— *Substituted for the words ‘‘State of Punjab” by the Punjab Reorganisation (Chan digarh) (Adaptation of Laws on State and Concurrent Subjects) Order, 1968. : ph. Act XXV]_ NON-TRADING ComPantts 649 1960 (2) A copy of every notification issued under clauses af sub-section (7), shall, < nd (c) of su » Shall, aS Soon as (b),8 issued, be placed before both Houses of the State - pegisiatur’: t o i r o n, ma _ k ( e b 1 y ) r T l u i h l k e e e s n f o [ or t C i e c f n i a t c r r a r a t y l i i o n n g Go an o v u d e t r n f t m o h r e e n c t p a ] u r r ry p m i o a n s y g e , s o b u y o t f t n l h i o i k t s e i fi A p c c u a r t - - r Po i w l e e r . to max p t s t t t o h h u i s h e e e c o e a e h n l > r s c C » e a O o u a F r a p d m T n d o a p y d i a n p i a r m t n n e m e g a c i o t t n e s d i d u O s i o W c m t f n " h h e i s a n c t A o r t a c f u t t a , l , n i a e s d n o s u y n c a 1 s s h 9 m s 5 h o r a 6 m d p u s l , l a i o u l e f y r s i p m h i c n o a a a s b v m d t e e e s a e i o s d o n e n e e a f s f s s a c f , h r e e a b c s i l f y t l s a w a s t h r s a h a y e u e p n s , b t y p y u j h l c e e y h w c o r r a t e u r w t e e i r t h x b t u o p o y h l e r m e t d i s a h o w i t - e d r e a y r e n y e w t a l i , a d u t u t a o n h f e n p d o d t a e u a e n r r e t t - d r o - this Act. (2) Every rule made or applied under this section shall i b e f e o r m a f m e v e o a x n u f o f i a r m c l e p t f c d l e h e e i e l a i i c r a r d a t d t f i s y i i , i d i s e H o t t a h s h c n y o o a s t o a a o a t u s i v s f u e t a s o e l l i l o o n e f t d o r y s t h n h o e p e e o o a e f r a o n n n f f r f c o n e i y o i a s t n c n l I o t s e t a n t l u d h e s s h o l i s b t e w t i n e o h m m m i w o e o n g e a a n f o n l S n y g y y m t t , a r a t p u s i t e d r n l b n u e i b e b e e n e 2 c o s , v c w h i t d e L a a h s o a h o s l o s e f u i u r y l r o s t g c c s s e i i h r h l v s h H a b y e b l o o p o w e a i w p m u t t h i t l t o e s h i d s u i i d v e c e w o r s e i i s e s h i n e s d f s r t m H e , i i h a o o s e o m o w u d n a d t u a h s g s t u e h t i , h r y n e a l e l e d s t a e f e i e o o a d r r b p r n r e r u a i d m i a t l e a n n o g e j p r t y c r u h i p i o e s m a f o d l e r s m t t a i s i h h b p c i u e k a e n e e r c d l i t r f h t l i e n u o h s l s s g a r b e e e e t t m e t . e o s o s d o h f f s s e d o i a i r t t i o r t n o e h n h n i e - h y n e - o e n e t e t 1 h n u 9 t t e 1 r i 3 r y o e 5 n o , f ( 3 C 2 o e f i ( n n 1 o t ) f I r s n a o d L l S i i e a s f c t , a t r A i c I o a t T n a r s e in I 2 I t h h 8 e t e 9 r h y o - e e f A b y r S e 1 e l 9 o v a 1 f r e t 3 e e n ) p , t t e h h a e l t a e o I S n d n d . c m d h a i e t a d a t l n u l e l r e s o C t o h e m e t n o r p u a m t n h e p i e r r e o a s v C t i o e s n d i s A o t c n t i s , i - n R sa e v p i e n a gs l . s ané f A i c e t d , ( 2 i ) n 1 898 S s , e u c b t - s i h s a o e l n c l s t i a o p 4 n p l a y é n n d ) to 2 a 2 s t he of t he r t y e h p e e a a l P p u pl n of y j a t b h t e o G p e t r n h o e e v r i a r s e l i p o e n al s C la e u ol s e es 4 Punjab Act. oe (Chandi 1 g S a u r b h s ) t itu ( t A e d d a pt f a o t r io th n e o w f o r L d a s w s “ St o a n t e S tat G e o v a n e d r n C m o e n nt c ” u rr by e t n he, Fun Reo