Companies (Amendment) Act, 2000

182. Amendment of section 407.-

In section 407 of the principal Act,-

(a) in sub-section (1), in clause (b),- (i) the words "managing agent, secretaries and treasurers," at both the places where they occur, shall be omitted;

(ii) the words "managing agent or secretaries and treasurers" shall be omitted;

(b) in sub-section (2),-

(A) in clause (a), the words "managing agent, secretaries and treasurers" shall be omitted;

(B) clause (b) shall be omitted;

(C) in clause (c), for the words "five thousand rupees", the words "fifty thousand rupees" shall be substituted.