The Companies Act, 2013
CHAPTER II: INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO
Section 8: Formation Of Companies With Charitable Objects, Etc
Bare Act
(1) Where it is proved to the satisfaction of the Central Government that a person or an association of persons proposed to be registered under this Act as a limited company -
- has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
- intends to apply its profits, if any, or other income in promoting its objects; and
- intends to prohibit the payment of any dividend to its members, the Central Government may, by licence issued in such manner as may be prescribed, and on such conditions as it deems fit, allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word "Limited", or as the case may be, the words "Private… Read the complete text with KanoonGPT Pro.
Explanation using examples
Imagine a group of individuals passionate about environmental conservation decide to form an organization. They want to promote sustainable living and protect natural habitats. Their goals include educating… Read the complete text with KanoonGPT Pro.
