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[Cites 0, Cited by 0] [Section 323] [Entire Act]

Union of India - Subsection

Section 323(2) in The Companies Act, 1956

(2)Upon the passing of any such special resolution, the provisions thereof shall be as valid as if they had been originally contained in the memorandum:Provided that no alteration of the memorandum making the liability of any of the officers referred to in sub-section (1) unlimited shall apply to such officer, if he was holding the office from before the date of the alteration, until the expiry of his then term, unless he has accorded his consent to his liability becoming unlimited.