law: Companies (Amendment) Act, 2000
  128.
  
  Amendment of section 252.-
  In
  
  section 252 of the principal Act, in sub-section (1), the following shall be
  
  inserted, namely:- 'Provided that a public company having,-
  (a)
  
  a paid-up capital of five crore rupees or more;
  (b)
  
  one thousand or more small shareholders, may have a director elected by such
  
  small shareholders in the manner as may be prescribed.
  Explanation.-For
  
  the purposes of this sub-section, "small shareholders" means a
  
  shareholder holding shares of nominal value of twenty thousand rupees or less
  
  in a public company to which this section applies.'.