Section XL:
Registry of special resolution.
A copy of an special resolution hat is passed by any
Company registered under this Act shall be forwarded to the Registrar of Joint-Stock Companies, and
recorded by him ; if such copy is not so forwarded within fifteen days from the date of the passing of
the resolution, the Company shall incur a penalty not exceeding Twenty Rupees for every day after
the expiration of such fifteen days during which such copy is omitted to be forwarded.