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CS Executive · Company Law and Practice · Introduction to Company Law

Under the Companies Act, 2013, what happens to the Company Law Board constituted under the Companies Act, 1956 when the Tribunal and the Appellate Tribunal are constituted?

The Company Law Board stands dissolved on the constitution of the Tribunal and the Appellate Tribunal. Section 466(1) provides for this dissolution, with transitional arrangements for qualified members and employees, but the Board itself does not continue alongside or merge into another body.

  1. AIt continues to function alongside the Tribunal
  2. BIt is merged into the Registrar of Companies' office
  3. CIt stands dissolvedCorrect
  4. DIt becomes the Appellate Tribunal without change

Explanation

Section 466(1) provides that the Board of Company Law Administration constituted under the 1956 Act, referred to as the Company Law Board, stands dissolved on the constitution of the Tribunal and the Appellate Tribunal. Its qualified members and employees may move to the new bodies under the provisos, but the Board itself does not continue.

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