561. Application of Act to companies formed and registered under previous companies laws .-
This Act shall apply to existing companies as follows:-(a)in the case of a limited company other than a company limited by guarantee, this Act shall apply in the same manner as if the company had been formed and registered under this Act as a company limited by shares;(b)in the case of a company limited by guarantee, this Act shall apply in the same manner as if the company had been formed and registered under this Act as a company limited by guarantee; and(c)in the case of a company other than a limited company, this Act shall apply in the same manner as if the company had been formed and registered under this Act as an unlimited company:Provided that-(i)nothing in Table A in Schedule I shall apply to a company formed and registered under Act 19 of 1857 and Act 7 of 1860 or either of them, or under the Indian Companies Act, 1866 (10 of 1866) or the Indian Companies Act, 1882 (6 of 1882);(ii)reference, express or implied, to the date of registration shall be construed as a reference to the date at which the company was registered under the previous companies law concerned.
