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CS Professional · Artificial Intelligence, Data Analytics and Cyber Security - Laws and Practice · Data Analytics and Law

Under the Explanation to Section 43A, the term 'body corporate' is defined as:

Body corporate means any company and includes a firm, sole proprietorship or other association of individuals engaged in commercial or professional activities. It is therefore wider than registered companies and is not limited to listed or large entities.

  1. AOnly a company registered under the Companies Act
  2. BAny company, and includes a firm, sole proprietorship or other association of individuals engaged in commercial or professional activitiesCorrect
  3. COnly a listed public company
  4. DOnly a company with a turnover above a prescribed limit

Explanation

The Explanation defines body corporate as any company and includes a firm, sole proprietorship or other association of individuals engaged in commercial or professional activities. Hence a sole proprietor running an online shop can be covered, so restricting it to companies is wrong.

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