Companies Act Section 183 — Power of Board and other persons to make contributions to national defence fund, etc
CHAPTER XII MEETINGS OF BOARD AND ITS POWERS
Commercial / Corporate
Summary
Sub-section (1) allows the Board of Directors of any company, or any person or authority that exercises the powers of the Board or of the company in general meeting, to contribute any amount it thinks fit to the National Defence Fund or any other Fund approved by the Central Government for national defence. This power applies even if other provisions of the Act, or the company's memorandum, articles, or any other related instrument, would otherwise restrict such contributions.
Sub-section (2) requires every company to disclose in its profit and loss account the total amount or amounts it contributed to the Fund mentioned in sub-section (1) during the financial year to which the amount relates.
Official Text
(1) The Board of Directors of any company or any person or authority exercising the powers of the Board of Directors of a company, or of the company in general meeting, may, notwithstanding anything contained in sections 180, 181 and section 182 or any other provision of this Act or in the memorandum, articles or any other instrument relating to the company, contribute such amount as it thinks fit to the National Defence Fund or any other Fund approved by the Central Government for the purpose of national defence.
(2) Every company shall disclose in its profits and loss account the total amount or amounts contributed by it to the Fund referred to in sub-section (1) during the financial year to which the amount relates.