Section 435 of Companies Act 2013

By | June 3, 2016
(Last Updated On: June 3, 2016)

Section 435 of Companies Act 2013

Applicability of Section 435 of Companies Act 2013

NOTIFICATION NO. SO 1795(E) [F.NO.01/12/2009-CL-I (Vol. IV)], dated 18-5-2016.—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 18th day of May, 2016 as the date on which the provisions of clause (iv) of sub-section (29) of section 2, sections 435 to 438 (both sections inclusive) and section 440 of the said Act shall come into force.

Section 435 of Companies Act 2013 :-

435. (1) The Central Government may, for the purpose of providing speedy trial of offences punishable under this Act with imprisonment of two years or more, by notification, establish or designate as many Special Courts as may be necessary :

 Provided that all other offences shall be tried, as the case may be, by a Metropolitan Magistrate or a Judicial Magistrate of the First Class having jurisdiction to try any offence under this Act or under any previouscompany law. (Inserted by the Companies (Amendment) Act, 2015, w.e.f. 29-5-2015.)

(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be appointed is working.

(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is, immediately before such appointment, holding office of a Sessions Judge or an Additional Sessions Judge.

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