Section 616 – The Companies Act,1956

The Companies Act, 1956

616. Application of Act to Insurance, banking, electricity supply and other companies governed by special Acts.

The provisions of this Act shall apply-

(a) to insurance companies, except in so far as the said provisions are inconsistent with the provisions of the Insurance Act, 1938;

(b) to banking companies, except in so far as the said provisions are inconsistent with the provisions of the Banking Companies Act, 1949;1

(c) to companies engaged in the generation or supply of electricity, except in so far as the said provisions are inconsistent with the provisions of 2[the Indian Electricity Act, 1910 or] the Electricity Supply 1948;

(d) to any other company governed by any special Act for the time being in force, except in so far, as the said provisions are inconsistent with the provisions of such special Act;

3[(e) to such body corporate, incorporated by any Act for the time being in force, as the Central Government may, by notification in the Official Gazette, specify in this behalf, subject to such exceptions, modifications or adaptation, as may be specified in the notification.]

1 See now the Banking Regulation Act, 1949.

2 Inserted by Act No. 65 of 1960.

3 Inserted by Act No. 41 of 1974, w.e.f. 1st. February, 1975.

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The Companies Act, 1956

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