Companies LawLegal Updates

MCA announces following provisions of Companies (Amendment) Act 2017 to come into force

MCA updates

On 9th February 2018, MCA announces following provisions of Companies (Amendment) Act 2017 to come into force :-

Sr. No Title of Section
1. Section 2 : Definitions [except clause (i) and clause (xiii)] a

Section 3 : Formation of company

 

2. Section 7: Incorporation of company

 

3. Section 9 : Effect of registration

 

Sections 11 : Omitted

 

Section 12 : Registered office of company

 

4. Section 14 : . Alteration of articles

 

5. Section 17 : Copies of memorandum, articles, etc., to be given to members.

 

6. Section 27 : Variation in terms of contract or objects in prospectus.

 

Section 28 : Offer of sale of shares by certain members of company.

 

Section 29 : Public offer of securities to be in dematerialised form

 

(both inclusive)

 

7. Section 32 :  Red herring prospectus

 

8. Section 34 and 35 :  Criminal liability  & Civil liability for mis-statements in prospectus

 

9. Section 38 : Punishment for personation for acquisition, etc., of securities.

 

10. Sections 41 to 45 (both inclusive):

 

Section 41: Global depository receipt

 

Section 42:  Offer or invitation for subscription of securities on private placement

 

Section 43: Kinds of share capital

 

Section 44:  Nature of shares or debentures.

 

Section 45:  Numbering of shares

 

11. Section 47 : Voting rights

 

Section 48 :  Variation of shareholders‘ rights

12. Sections 50 : Company to accept unpaid share capital, although not called up.

 

Section 51 : Payment of dividend in proportion to amount paid-up

 

13. Section 53: Prohibition on issue of shares at discount

 

14. Section 59 : Rectification of register of members.

 

Section 60 : Publication of authorised, subscribed and paid-up capital.

 

15. Sections 63 to 65 (both inclusive) under Chapter 4. Share Capital and Debentures

 

16. Sections 72 to74 (both inclusive) :

 

Section 72:  Power to nominate.

 

Section 73: Prohibition on acceptance of deposits from public.

 

Section 74:  Repayment of deposits, etc., accepted before commencement of this Act.

 

17. Sections 77 to 79 (both inclusive)

 

Section 77:  Duty to register charges, etc.

 

Section 78:  Application for registration of charge.

 

Section 79:  Section 77 to apply in certain matters

 

18. Section 82 : Company to report satisfaction of charge.

 

19. Sections 84 : Intimation of appointment of receiver or manager.

 

Section 85: Company‘s register of charges

 

20. Sections 90 to 93 (both inclusive)

 

Section 90: Investigation of beneficial ownership of shares in certain cases.

 

Section 91: Power to close register of members or debenture holders or other security holders.

 

Section 92:  Annual return.

 

Section 93:  Return to be filed with Registrar in case promoters’ stake changes

Find the link below to the copy of Companies (Amendment) Act, 2017

In addition, link of the Companies Act, 2013

Link of the MCA notification regarding various provisions of Companies (Amendment) Act 2017 coming into force.

 

 

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