Companies Act, 1956
Section - 273 - Saving
Saving.273. Sections [and ] shall not apply to a private company, unless it is a subsidiary of a public company.Share qualificationTime within which share qualification is to be obtained and maximum amount thereof.270. (1) Without prejudice to the restrictions imposed by , it shall be the duty of every director who is required by the articles of the company to hold a specified share qualification and who is not already qualified in that respect, to obtain his qualification within two months after his appointment as director.(2) Any provision in the articles of the company (whether made before or after the commencement of this Act) shall be void in so far as it requires a person to hold the qualification shares before his appointment as a director or to obtain them within a shorter time than two months after his appointment as such.(3) The nominal value of the qualification shares shall not exceed five thousand rupe .... To read the full section download the app from Google Play store
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