Act not to apply to certain urban properties

Act not to apply to certain urban properties. Nothing in this Act shall apply to—

1. (i) the Central Government or the State Government or any local authority or any corporation established by or under a Central or State Act or any Government company as defined in section 617 of the Companies Act, 1956;
2. (ii) any public charitable or religious trust ;
3. (iii) any widely-held company ;
4. (iv) any co-operative society (registered under any law relating to co-operative societies) other than a co-operative housing society engaged in any business or industry ; and
5. (v) any club formed by association of individuals on mutual non-profit basis ; or
6. (vi) any building or class of buildings which the Government may, by special or general order, specify.

1. (b) any urban property, being a building built for the accommodation of the poorer portions of the society in accordance with the schemes approved by the Government. Explanation : In this section "widely-held company" means a company (not being a private company) as defined in the Companies Act, 1956, the shares of which are listed, in a recognised stock exchange in India in accordance with the Securities Contract (Regulation) Act, 1956 and the rules made thereunder.