Section 470 of the Companies Act, 2013
⚖️ Section 470 of the Companies Act, 2013
– Power to Remove Difficulties
Text of the Section:
(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 it to be necessary or expedient for removing the difficulty.
(2) However, no such order shall be made after the expiry of five years from the commencement of the Act.
(3) Every order made under this section shall be laid before each House of Parliament.
✅ Key Highlights:
Grants the Central Government the power to remove difficulties in implementing the Companies Act, 2013.
Such orders must be:
Published in the Official Gazette,
Not inconsistent with the provisions of the Act,
Issued within five years from the date of commencement of the Act.
Ensures Parliamentary oversight — all such orders must be placed before both Houses of Parliament.
📌 Purpose:
To allow the government to:
Fix technical or procedural problems,
Clarify ambiguities in the law during the initial implementation phase,
Ensure smooth and efficient enforcement of the Act.
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