Report No. 255
2.31. A combined list of recommendations is reproduced below:
(a) On Expenses and Contribution
1. Section 77(1) of the RPA should be amended to extend the starting time period of the regulation of the election expenditure from the current date of nomination to the date of notification of elections, extending to the date of declaration of results.
- Thus, the words "on which he has been nominated" in sub-section (1) of section 77 should be deleted and instead, the words "of notification of such election" should be inserted in its place.
2. Section 182(1) of the Companies Act, 2013 should be amended to require the passing of the resolution authorising the contribution of the company's funds at the company's Annual General Meeting (AGM) instead of its Board of Directors.
- Thus, the words "a meeting of the Board of Directors" in sub-clause (1) of section 182 should be deleted and in its place, the words "the annual general meeting" should be inserted.