Definition.

In this Act, ‘company’ means a company formed and registered under this Act, or an existing company formed and registered under any of the previous companies laws specified in clause (ii) of sub-section (1) of section 3 of the Companies Act, 1956 (Central Act 1 of 1956), and— (1) which is confined in the scope of its Objects to the Union territory of Chandigarh; and (2) which is a non-trading corporation within the meaning of entries 43 and 44 in List I of the Seventh Schedule to the Constitution of India.