Amendments of Act 9 of 1932 Section 245: Amendments of Act 9 of 1932. 245. The Indian Partnership Act, 1932 shall be amended in the manner specified in the First Schedule.

Transitional provisions Section 244: Transitional provisions. *244. (1) Until the Board is constituted or a financial sector regulator is designated under section 195, as the case may be, the powers and functions of the Board or such designated financial sector regulator, including its power to make regulations, shall be exercised by the Central Government. (2) … Read more

Repeal of certain enactments and savings Section 243: Repeal of certain enactments and savings. 243. (1) The Presidency Towns Insolvency Act, 1909 and the Provincial Insolvency Act, 1920 are hereby repealed. (2) Notwithstanding the repeal under sub-sections (1),— (i) all proceedings pending under and relating to the Presidency Towns Insolvency Act 1909, and the Provincial … Read more

Power to remove difficulties Section 242: Power to remove difficulties. *242. (1) If any difficulty arises in giving effect to the provisions of this Code, the Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Code as may appear to be necessary for removing … Read more

Rules and regulations to be laid before Parliament Section 241: Rules and regulations to be laid before Parliament. 241. Every rule and every regulation made under this Code shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of … Read more

Application of this Code to micro, small and medium enterprises Section 240A: Application of this Code to micro, small and medium enterprises. 1[240A. (1) Notwithstanding anything to the contrary contained in this Code, the provisions of clauses (c) and (h) of section 29A shall not apply to the resolution applicant in respect of corporate insolvency … Read more

Power to make regulations Section 240: Power to make regulations. *240. (1) The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all … Read more

Power to make rules Section 239: Power to make rules. *239. (1) The Central Government may, by notification, make rules for carrying out the provisions of this Code. (2) Without prejudice to the generality of the provisions of sub-section (1), the Central Government may make rules for any of the following matters, namely:— (a) any … Read more

Limitation Section 238A: Limitation. 1[238A. The provisions of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal, as the case may be.]

Provisions of this Code to override other laws Section 238: Provisions of this Code to override other laws. *238. The provisions of this Code shall have effect, notwithstanding anything inconsistent therewith contained in any other law for the time being in force or any instrument having effect by virtue of any such law.