LawgistThe Companies Act
446BLesser penalties for One Person Companies or small companies
1[446B. Lesser penalties for One Person Companies or small companies.--Notwithstanding anything contained in this Act, if a One Person Company or a small company fails to comply with the provisions of sub-section (5) of section 92, sub-section (2) of section 117 or sub-section (3) of section 137, such company and officer in default of such company shall be punishable with fine or 2[liable to a penalty which shall not be more than one-half of the penalty specified in such sections.]
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1. Ins. by Act 1 of 2018, s. 91 (w.e.f. 9-2-2018).
2. Subs. by Act 22 of 2019, s. 40, for certain words (w.e.f. 2-11-2018).
SPECIAL COURTS
- 435 Establishment of Special Court
- 436 Offences triable by Special Courts
- 437 Appeal and revision
- 438 Application of Code to proceedings before Special Court
- 439 Offences to be non-cognizable
- 440 Transitional provisions
- 441 Compounding of certain offences
- 442 Mediation and Conciliation Panel
- 443 Power of Central Government to appoint company prosecutor
- 444 Appeal against acquittal
- 445 Compensation for accusation without reasonable cause
- 446 Application of fines
- 446A Factors for determining level of punishment
- 446B Lesser penalties for One Person Companies or small companies
