(2)[ The provisions of sub-section (1) shall also apply to a person deemed to be a Director of the company by virtue of the Explanation to sub-section (1) of section 303 when such person is appointed to, or relinquishes, any of the offices in the other body corporate referred to in sub-section (1).] [Substituted by Act 65 of 1960, Section 111, for Section 305 (w.e.f. 28.12.1960). ]
