Companies Act Section 458 — Delegation by Central Government of its powers and functions

CHAPTER XXIX MISCELLANEOUS

Commercial / Corporate

Summary

Sub-section (1) allows the Central Government to hand over any of its powers or functions under this Act to another authority or officer, as long as it does so through a formal notification. That notification can include conditions, limitations, or restrictions on how the delegated power is used. However, the Central Government cannot delegate its power to make rules under this Act.

Sub-section (2) requires that every notification issued under sub-section (1) be placed before both Houses of Parliament as soon as possible after it is issued.

Official Text

(1) The Central Government may, by notification, and subject to such conditions, limitations and restrictions as may be specified therein, delegate any of its powers or functions under this Act other than the power to make rules to such authority or officer as may be specified in the notification: 1* * * * *

(2) A copy of every notification issued under sub-section (1) shall, as soon as may be after it is issued, be laid before each House of Parliament.