Section - 298 - [OMITTED BY THE COMPANIES (AMENDMENT) ACT, 2000, W.E.F. 13-12-2000]
Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc.298.[Omitted by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.]
54. Prior to its omission, section 298, as amended by the Companies (Amendment) Act, 1960, read as under :"298. Power of directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc.—Where in pursuance of any provisions contained in this Act, the managing agent or secretaries and treasurers of a company are deemed to have vacated or to have been suspended from office, or are removed or suspended from office, or cease to act or to be entitled to act as managing agent or secretaries and treasurers, or where a permanent or temporary vacancy has otherwise occurred in the office of managing agent or secretaries and treasurers, then the Board of directors shall have power to carry on, or arrange for the carrying on of, the affairs of the company until the managing agent or secretaries and treasurers again become entitled to act as such, or until the company in general meeting resolves otherwise.
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