Share means share in the share capital of a company and includes stock except where a distinction between stock and shares is expressed or implied. A joint stock company is a voluntary association of individuals for profit having a capital divided into transferable shares the ownership of which is the condition of membership introduction.
definition of joint stock company according to companies act 1956
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Section 2 in the companies act 1956.
Definition of joint stock company according to companies act 1956. A company means a group of persons associated together for the attainment of a common end social or economic. Explore the companies act 2013 and companies act 1956. Companies act 1956 ppt 1.
According to haney joint stock company is a voluntary association of. Introductionwhat is company a company is an artificial person created by law. Section 3 1 i of the companies act 1956 defines a company as a company.
Act 20131956. Content introduction definition characteristics of a company types of company 2. Be it enacted by parliament in the sixth year of the republic of india as follows.
Section 266d obligation of director to intimate director identification number to concerned company or companies. Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. With the technological improvements the scale of operations has increased.
1 of 1956 18th january 1956 an act to consolidate and amend the law relating to companies and certain other associations. The requirements for finances and managerial resources have gone up. A joint a deputy or an assistant registrar having the duty of registering companies under this act.
Section 73 allotment of shares and debentures to be dealt in on stock exchange. A joint stock company is a business entity in which shares of the companys stock can be bought and sold by shareholderseach shareholder owns company stock in proportion evidenced by their shares certificates of ownership. A company formed and registered.
The companies act 1956 act no. The traditional forms of. Section 31i of the companies act 1956 defines a company as.
1 meaning characteristics and types of a company structure 10 objective 11 introduction.