(1)Subject to the following provisions of this chapter, a company incorporated, whether before or after the passing of this Act, by or under the laws of the in United Kingdom, and the members of the governing the body of any such company and the holders of its shares, stock, debentures, debenture stock or bonds, and its officers, agents, and servants, shall be deemed to comply with so much of any Federal or Provincial law as imposes in regard to companies carrying on or proposing to carryon business in British India requirements or conditions relating to or connected with-(a)the place of incorporation of a company or the situation of its registered office, or the currency in which its capital or loan capital is expressed ;or(b)the place of birth, race, descent, language, religion, domicile, residence or duration of residence of members of the governing body of a company, or of the holders of its shares, stock, debentures, debenture stock or bonds, or of its officers, agents or servants :Provided that no company or person shall by virtue of this section be deemed to comply with any such requirement or condition as aforesaid if and so long as alike requirement or condition is imposed by or under the law of the United Kingdom in regard to companies incorporated by or, under the laws of British India and carrying on or proposing to carry on business in the United Kingdom.
