Section 184: Prohibition regarding making of political contributions

184. Prohibition regarding making of political contributions.—(1) Notwithstanding anything contained in this Act, a company shall not contribute any amount or allow utilization of its assets— (a) to any political party; or (b) for any political purpose to any individual or body. (2) If a company contravenes the provisions of sub-section (1), then— (a) the company shall be liable to a penalty of level 2 on the standard scale; and (b) every director and officer of the company who is in default shall be punishable with imprisonment of either description for a term which may extend to two years and shall also be liable to a fine of one million rupees.

Effective date: 2017-05-30

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