Vidhi Codex

Punjab Non-Trading Companies Act, 1960

Punjab Non-Trading Companies Act, 1960

Corporate19605 sections

This Act governs non-trading companies operating exclusively within the Union territory of Chandigarh. It applies to associations that are not engaged in trade and are confined to this specific region. The legislation adopts the framework of the Companies Act, 1956, but transfers regulatory authority to the State Government instead of the Central Government. This allows Chandigarh to manage corporate incorporation, regulation, and winding up locally. Furthermore, the State Government has the power to make its own rules and modify central provisions to suit local requirements, ensuring that corporate governance fits the specific needs of the territory.

Start reading →Read full ActSections
  1. 1. Short title, extent, commencement and application.
  2. 2. Definition.
  3. 3. Application of Central Act 1 of 1956 to companies to which this Act applies.
  4. 4. Power to make rules.
  5. 5. Repeals and savings.

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