Monthly Archives: June, 2015

AMENDMENT IN COMPANIES (SHARE CAPITAL AND DEBENTURES) RULES, 2014

Ministry of Corporate Affairs has amended “The Companies (Share Capital and Debentures) Rules, 2014. This is second amendment in these rules. Text of amendment is as follow:

In the-Companies (Share Capital and Debentures) Rules,2014, in rute 5, in sub-rule (3),-

(i). for the words ‘issued under the seal of the company’., the words ‘issued under the seal, if any, of the company,, shall be substituted.

(ii) for clause (b), the following clause (b) shall be substituted, namely:-

“(b) the secretary or any person authorised by the Board for the purpose Provided that in case a company does not have a common seat, the share certificate shall be signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary:

Provided further that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing director or a whole time director:

Provided also that, in case of a One person Company, every share certificate shall be issued under the seal, if any, of the company, which shall be affixed in the presence of and signed by one director or a person authorised by the Board of Directors of the company for the purpose and the Company Secretary, or any other person authorised by the Board for the purpose, and in case the One person Company does not have a common seal, the share Certificate Shall be signed by the persons in the presence of whom the seal is required to be affixed in this proviso.

You can download the text of said amendment form the following link:

http://mca.gov.in/Ministry/pdf/Rules_31052015_1.pdf

AMENDMENT IN COMPANIES (DECLARATION AND PAYMENT OF DIVIDEND) RULES, 2014

Ministry of Corporate Affairs has amended “The Companies (Declaration and Payment of Dividend ) Rules, 2014. This is Third amendment in these rules. In Rue 3 sub –rule (5) has been omitted, through these amendments. These amendments shall come into force form the date of their publication in official gazette.

You can download the text of said amendment form the following link:

http://mca.gov.in/Ministry/pdf/Rules_31052015_2.pdf

AMENDMENT IN COMPANIES (INCORPORATION) RULES, 2014

Ministry of Corporate Affairs has amended “The Companies (Incorporation) Rules, 2014. This is second amendment in these rules. In this amendment a new proviso to Rule 12 has been inserted and new set of MOA of section 8 company has been notified. These amendments shall come into force form the date of their publication in official gazette.

The text of the amendment is as follow:

(a) In rule 12, the following proviso shall be inserted, namely:-

“Provided that in case pursuing of any of the objects of a company require registration or approval form sectroral regulator such as Reserve Bank of India, SEBI registration or approval, as the case may be, from such regulators shall be obtained by the company before perusing such objects and a declaration in this behalf shall be submitted at the stage of incorporation of the company.

(b) Rule 24 shall be omitted

(c) In the Annexure-

(i) for the existing form INC 13 and Form INC 16, the following Form INC -13 and INC-16 shall respectively be substituted.

You can download the text of said amendment form the following link:

http://mca.gov.in/Ministry/pdf/Rules_31052015_3.pdf

COMMENCEMENT NOTIFICATION OF ‘THE COMPANIES (AMENDMENT) ACT, 2015

Dear,

Ministry of Corporate Affairs has vide its Notification dated 29th May 2015 clarified that date of commencement of provisions of section 1 to 12 and section 15 to 23 shall come into force w.e.f. 29th May 2015.

You can download the said notification from the following link:
http://mca.gov.in/Ministry/pdf/Notification_31052015.pdf