55. Issue and redemption of preference shares (1) No company limited by shares shall, after the commencement of this Act, issue any preference shares which are irredeemable. (2) A company limited by shares may, if so authorised by its articles, issue preference shares which are liable to be redeemed within a period not exceeding twenty
54. Issue of sweat equity shares (1) Notwithstanding anything contained in section 53, a company may issue sweat equity shares of a class of shares already issued, if the following conditions are fulfilled, namely:— (a) the issue is authorised by a special resolution passed by the company; (b) the resolution specifies the number of shares,
53. Prohibition on issue of shares at discount (1) Except as provided in section 54, a company shall not issue shares at a discount. (2) Any share issued by a company at a discounted price shall be void. (3) Where a company contravenes the provisions of this section, the company shall be punishable with fine
52. Application of premiums received on issue of shares (1) Where a company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate amount of the premium received on those shares shall be transferred to a “securities premium account” and the provisions of this Act relating to reduction of
51. Payment of dividend in proportion to amount paidup A company may, if so authorised by its articles, pay dividends in proportion to the amount paid-up on each share. Complete: companies-act-2013
54. Repeal and saving. 54. Repeal and saving.— (1) The Foreign Contribution (Regulation) Act, 1976 (49 of 1976) (hereafter referred to as the repealed Act) is hereby repealed. (2) Notwithstanding such appeal,— (a) anything done or any action taken or purported to have been done or taken under the repealed Act shall, insofar as it
53. Power to remove difficulties. 53. Power to remove difficulties.— (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to be necessary for removing the
52. Application of other laws not barred. 52. Application of other laws not barred.— The provisions of this Act shall be in addition to, and not in derogation of, the provisions of any other law for the time being in force. Complete: fcra-act-2010
51. Act not to apply to certain Government transactions. 51. Act not to apply to certain Government transactions.— Nothing contained in this Act shall apply to any transaction between the Government of India and the Government of any foreign country or territory. Complete: fcra-act-2010
Section 50 in The Foreign Contribution (Regulation) Act, 2010 50 Power to exempt in certain cases. If the Central Government is of opinion that it is necessary or expedient in the interests of the general public so to do, it may, by order and subject to such conditions as may be specified in the