rule based legislation

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Dear team ,
why is it said that companies act 2013 is a rule based legislation ?

Is there any difference between principal based and rule based regulatory systems ?
Replies (4)
As every section supported by rules thats why called
If it is prposed that amendments should be made in section then it is possible only through companies amendments act but in case of rules just through circular and notification
dear sir ,
thank you for clearing my doubt.
Here is also a student.. Not sir... Hope ur query will resolved now without any doubt


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