Companies Act, 1956

Section - 278 - Exclusion of certain directorships for the purposes of sections 275, 276 and 277

Exclusion of certain directorships for the purposes of sections , and .

278. (1) In calculating, for the purposes of sections , and , the number of companies of which a person may be a director, the following companies shall be excluded, namely :—

         (a)  a private company which is neither a subsidiary nor a holding company of a public company;

         (b)  an unlimited company;

          (c)  an association not carrying on business for profit or which prohibits the payment of a dividend;

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