Companies Act, 2013

Section 5

Saving and Repeal

⚡ Quick Answer Reference: Section 5 Companies Act

Provision: Section 5 of Companies Act
Act: Companies Act, 2013
Classification: corporate
Jurisdiction: India
Summary: This section repeals the Companies Act, 1956, but preserves actions taken under it if they are not inconsistent with the new Act.

Statutory Content

What does Section 5 of Companies Act say?

The Companies Act, 1956, is hereby repealed. Notwithstanding such repeal, anything done or any action taken or any proceeding taken or any power or jurisdiction conferred, or any appointment made, or any order issued, or any direction given under the Companies Act, 1956, shall, in so far as it is not inconsistent with the provisions of this Act, be deemed to have been done or taken or taken or conferred or made or issued or given under the corresponding provisions of this Act.

Indian StandardSection 5, Companies Act, 2013

Bluebook (21st ed.)Companies Act, 2013, § 5 (India)

Court Pleading StandardSection 5 of the Companies Act, 2013

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Source: Gazette of India (Official Publication)Verify egazette.gov.in ↗

✓ VERIFIED FOR LEGAL ACCURACYReviewed & certified by Advocate Arjun Choudhury (Bar Council ID: D/8734/2015).

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Section Meaning & Purpose

What does Section 5 of Companies Act mean?

Plain English Explanation

This section repeals the Companies Act, 1956, but preserves actions taken under it if they are not inconsistent with the new Act.

Practical Interpretation

In practice, this means that any actions, proceedings, or appointments made under the old Act remain valid unless they conflict with the new Act's provisions.

Core Legal Purpose

The purpose is to ensure a smooth transition from the old Act to the new one, minimizing disruptions to companies and their operations.

Key Legal Elements

•Repeal of the Companies Act, 1956
•Preservation of actions taken under the old Act
•Consistency with the new Act's provisions
•No inconsistency with the new Act

Practical Example

Practical Example of Section 5 Companies Act

For example, if Rajesh was appointed as a director under the Companies Act, 1956, his appointment remains valid under the new Act unless it contradicts any provision of the Companies Act, 2013. Similarly, any legal proceedings initiated under the old Act can continue under the new Act if they are not inconsistent with its provisions.

Common Questions (FAQ)

Frequently Asked Questions about Section 5 Companies Act

Q: What is the punishment or consequence under Section 5 of Companies Act, 2013?

This section is a procedural provision and does not prescribe a penal punishment.

Q: Does this section apply to private individuals or public entities?

This section applies to companies, which can be either private or public, as it deals with the repeal of the old Act and the preservation of actions taken under it.

Q: Is an offence under this section bailable or cognizable?

This section does not deal with offences, as it is a procedural provision related to the repeal of the old Act and the preservation of actions taken under it.

Common Questions about Section 5 Companies Act

What is Section 5 of Companies Act?

Section 5 of the Companies Act, 2013 (Companies Act) defines and regulates "Saving and Repeal". In plain terms: This section repeals the Companies Act, 1956, but preserves actions taken under it if they are not inconsistent with the new Act.

What are the elements of Section 5 of Companies Act?

The essential elements of Section 5 of Companies Act are: Repeal of the Companies Act, 1956; Preservation of actions taken under the old Act; Consistency with the new Act's provisions.

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