Application of Central Act 1 of 1956 to companies to which this Act applies.

(1) The provisions of the Companies Act, 1956 (Central Act 1 of 1956), shall so far as may be, apply to the incorporation, regulation and winding up of companies to which this Act applies : Provided that— (a) the powers and functions vested in the Central Government under those provisions shall be exerciseable and may be exercised by the State Government ; (b) the State Government shall be competent, by notification, to delegate all or any of such powers or functions to such subordinate officer or authority, and subject to such conditions, restrictions and limitations, as may be specified in the notification : (c) the State Government shall have power by a like notification to relax, omit, add to or vary any provision of the aforesaid Central Act hereby made applicable to companies to which this Act applies ; and (d) the powers, duties and functions of the Registrar under the said provisions shall be exercised, discharged and performed by such person as appointed by the State Government, by name or by virtue of office, to be the Registrar, in relation to companies to which this Act applies. (2) A copy of every notification issued under clauses (a), (b), and (c) of sub-section (1), shall, as soon as issued, be placed before both Houses of the State Legislature.