Section - 182 - Prohibitions and restrictions regarding political contributions
Prohibitions and restrictions regarding political contributions.182. (1) Notwithstanding anything contained in any other provision of this Act, a company, other than a Government company and a company which has been in existence for less than three financial years, may contribute any amount directly or indirectly to any political party:[***]Provided [***] that no such contribution shall be made by a company unless a resolution authorising the making of such contribution is passed at a meeting of the Board of Directors and such resolution shall, subject to the other provisions of this section, be deemed to be justification in law for the making [***] of the contribution authorised by it.(2) Without prejudice to the generality of the provisions of sub-section (1),-
(a)
-
a donation or subscription or payment caused to be given by a company on its behalf or on its account to a person who, to its knowledge, is carrying on any activity which, at the time at which such donation or subscription or payment was given or made, can reasonably be regarded as likely to affect public support for a political party shall also be deemed to be contribution of the amount of such donation, subscription or payment to such person for a political purpose;
(b)
-
.... To read the full section download the app from Google Play store
CAclubindia
