[17th October, 1951]
An Act to enable companies to make donations to national funds
Be it enacted by Parliament as follows:-
In this Act,—
(a) “company” means a company as defined in section 2 of the Companies Act, and includes a company deemed to be incorporated and registered under that Act by virtue of section 2B thereof;
(b) “The Companies Act” means the Indian Companies Act, 1913 (VIII of 1913).
Any company may, notwithstanding anything contained in the Companies Act or in any other law for the time being in force regulating the affairs thereof, and notwithstanding that the memorandum or articles of association of the company do not enable it so to do, by an extraordinary resolution passed in accordance with the provisions contained in section 81 of the Companies Act authorise the making of donations to the Gandhi National Memorial Fund or the Sardar Vallabhbhai National Memorial Fund, or to any other Fund established for a charitable purpose which by reason of its national importance has been approved by the Central Government for the purpose of this section.
The Gandhi National Memorial Fund Donations (Companies) Act, 1948, is hereby repealed.