Section 41, Competition Act, 2003 [S21-NK2]
As at 8 November 2003. In force from 8 November 2003.
41. Grant of licence.—(1) An application for a licence to undertake the carrying on of business by a company shall be made to the Registrar of Companies in Form INC-1, accompanied by a fee of five thousand rupees. (2) The Registrar of Companies may, after making such inquiry as it thinks fit, grant the licence subject to such conditions as may be prescribed, or, for reasons to be recorded in writing, refuse to grant the licence. (3) A licence granted under this section shall be valid for a period of three years from the date of its grant and may be renewed in such manner as may be prescribed. (4) The Registrar of Companies may, after giving the licensee an opportunity of being heard, suspend or cancel a licence for contravention of any condition thereof.
Defined terms in this text (2)
company: Section 2, Competition Act, 2003 [S21MCX] (In this Act, unless the context otherwise requires,—): "company" means a company incorporated under this Act or under any previous company law
company: 13 more definitions.
Registrar: Section 2, Competition Act, 2003 [S21MCX] (In this Act, unless the context otherwise requires,—): "Registrar" means a Registrar, an Additional Registrar, a Joint Registrar, a Deputy Registrar or an Assistant Registrar, having the duty of registering companies and discharging various functions under this Act
Registrar: 79 more definitions.
Made under this section, or naming it (0)
none
Cited by (2)
Section 40, Competition Act, 2003 [S21-NJ0], 8 November 2003, Band A. "section 41".
Section 2, Competition Act (Amendment) Act, 2019 [S29-JB1], 7 November 2019, Band A. "section 41 of the Competition Act, 2003 (12 of 2003)".
Not held (0)
none
Duties published under this section (0)
none