It may be very much possibility that new Companies Act, 2013 will apply for your May 2014 attempt and there after.So in your case it will be applicable.
The reason is that most of the section of old Companies Act, 1956 has been abolished which has been given in your study module.
One think I want to also clarified that the new module of Corporate law will also issued by Institute in near future.
So be ready to study of new Companies Act, 2013.
The only formalities is waiting of Notification in this regards.
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