is charged with Ike overall responsibility for: administration and enforcement of the Companies Act It acts through the Department of Company Affairs. Till recently the task of loo after the Department of Company Affairs v as entrusted to the Manish of Industry and Company Affairs. On reshuffling of the Ministries in 1991, the Department of Company Affairs nova. form a pall of the Ministry Law, -Justice and Corns- 4tfiiirs
THE COMPANY LAW BOAFD
Vita a Lieu to ertsum; g greater ferities cohesion and dispatch in the day-to-day ad Tnnictrarion of the Compares Act an administrative authority. named the Board of C 1 Administration (popularly known as the Corny Lave Board) Vegas set up in Fibrous l9G4, by the Central Government m e with Section 10E (instituted by the Companies amendment) ACL 196 ] According to Section 10E, as amendment by the Cur nixes (Amendment) .ACL 19g8, the Company Law Board is to exercise and discharge such pullers and functions as may be conferred on it, by or under the Compares At or any other law it is also to exercise and discharge- such other powers and functions of the Central Government under this act or am other law as mad be conferred on it by the Central Government, by notification in the Official the provisions of this Act, or that other law [Sec. 10E (IA)|
Powers and Functions Under the provisions of the Companies (Amendment) Act, 19S8, the powers and functions to the Company Law Board have been enlarged Unlike the earlier Company Law Board which was subjecttothe control oilier Central Government,(Department of Company Affairs) in the exercise of its powers and discharge of its Emotions, the Government has constituted an independent company Law Board with effect from List May, 191 The new Board is a quasijudicial body it has been vested with considerable powers and functions. Some of these are judicial while others are administrative m nature: The Boated will exercise most of the powers which were Writhers being exercised by the Court or the Central Governtnent. The Board has the power to regulate its own procedure and act in its own discretion The Board would be guided by the principles of natural justice ill the conduct of its business
Reconstitution. Since the Company Law Board will regulate its own procedure under Second 10E (6 of the Act, the Companies (Appeal to the Central Government), Rules, 1957, the Company Law Board (Procedure) Rules 196 l and the Company Law Board (Bench) Rules, 1975 has been rescinded The new Company Law Board as reconstituted on 3 Its May, 1991, has framed the Company Law Board Regulations, 1991, for regulating the proceedings before it. The Government has also prescribed fee for ma an application to the Company Law Board wed the CLB (Fees on Application and Potions) Rules, 1991.
36 ’S: SECRETARIAL PRACTICE
Govt. members. The CompailyLaw Bound is to consist of of members, not exceeding nine, as Loc Central Government mar ark-=: notification in Use Of chital Gazette, and one of such members shall be off as its chairman The members of the Company Law Board shall posse ,i qualifications and experience as may be prescribed. They may be app. for such period, not exceeding three years, as may be specified in I nohilcation. The Board so constituted may, by order in writing, form one o: more Benches from moil its numbers and authorize each such Bench exercise and discharge styli of has powers and factious as may be specified in the order Every order made or act done by a Bench in pursuance of S Icky authority would be deemed to be the order or act of the Board [Sec. I OE l: (2A) (3) and (4B) j.
Pm errs to the Bench. As regards the powers of a Bench, Y bile trying a smut, every Bench shall enjoy powers of a civil court to discover and inspect doc lunettes producible as evidence, to enforce the attendance of witness au i production of etc., and also to provide for punishment for its contempt [Set 10E(4C) and (4D)1
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