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In reference to Commencement notification dated May 07, 2018, June 21, 2018 and July 05, 2018 the Ministry of Corporate Affairs has notified the following Sections of the Companies (Amendment) Act, 2017:
- May 07, 2018: S.O. 1833(E).-In exercise of the Power conferred by Sub-Section (2) of Section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the 7th May, 2018 as the date on which the following provisions of the said Act shall come into force, namely:-
# | Section of Companies Amendment Act, 2017 | Amended Sections of Companies Act, 2013 | Particulars |
1 | Definitions | ||
2 | Matters to be stated in prospectus | ||
3 | Issue of sweat equity shares | ||
4 | Sections 18 and 19; | Section 77 & 78 | Duty to Register of charges, etc. and Application for Registration of charge |
5 | Declaration in respect of Beneficial Interest in any share | ||
6 | Annual return | ||
7 | Sections 30 and 31; | Resolutions and Agreements to be filed | |
Report on Annual General meeting | |||
8 | Financial Statement | ||
9 | Sections 39 and 40; | Copy of financial statement to be filed with registrar | |
Appointment of Auditors | |||
10 | Company to have Board of Directors | ||
11 | Company to inform DIN to registrar | ||
12 | Disqualification for appointment of Directors | ||
13 | Sections 54 to 58 (both inclusive); | Vacation of office of Directors | |
Resignation of Director | |||
Meetings of Board | |||
Audit Committee | |||
Nomination and Remuneration Committee and Stakeholders Relationship committee | |||
14 | Sections 61 and 62; | Loan to Directors, etc. | |
Loan and Investment by company | |||
15 | First proviso to clause (i) of section 80 and clause (ii) of section 80; | Fee for filing etc. | |
16 | Constitution of appellate tribunal | ||
17 | Sections 86 to 89 (both inclusive). | Establishments of special courts | |
Application of code to proceedings before special court | |||
Offences to be non-cognizable | |||
Transitional Provisions |
Notification Link:-
http://www.mca.gov.in/Ministry/pdf/CompaniesAmendmentNoti_07052018.pdf
- June 13, 2018: S.O. 2422(E).-In exercise of the Power conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the June 13, 2018 as the date on which the following provisions of the said Act shall come into force, namely:-
# | Section of Companies Amendment Act, 2017 | Amended Sections of Companies Act, 2013 | Particulars |
1 | Register of Significant beneficial Owners in a Company | ||
2 | Return to be filed with Registrar in case of promoter stake changes | ||
3 | Place of keeping and inspection of registers and returns etc. | ||
4 | Annual General Meeting | ||
5 | Investigation of ownership of Company |
Notification Link:-
http://www.mca.gov.in/Ministry/pdf/CommNotificatio1306_14062018.pdf
- June 21, 2018: S.O. 3020(E).- This is a Corrigendum to notification S.O. 2422(E) dated June 13, 2018 of commencement of certain provisions of Companies Amendment Act, 2017. In this notification dated June 21, 2018 Section 89(10) of the of the Companies Act, 2013,related to beneficial interest has been notified w.e.f June 13, 2018.
Notification Link:-
http://www.mca.gov.in/Ministry/pdf/Notification2106_22062018.pdf
- July 05, 2018:In exercise of the Power conferred by Sub-Section (2) of Section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the July 05, 2018 as the date on which the following provisions of the said Act shall come into force, namely:-
# | Section of Companies Amendment Act, 2017 | Amended Sections of Companies Act, 2013 | Particulars |
1 | Company to report satisfaction of charge |
Notification Link:-http://www.mca.gov.in/Ministry/pdf/CommencementNotification05_06072018.pdf
- July 05, 2018: In exercise of the Power conferred by Sub-Section (2) of Section 1 of the Companies (Amendment) Act, 2017 (1 of 2018), the Central Government hereby appoints the August 15, 2018 as the date on which the following provisions of the said Act shall come into force, namely:-
# | Section of Companies Amendment Act, 2017 | Amended Sections of Companies Act, 2013 | Particulars |
1 | Prohibition on acceptance of deposits from public | ||
2 | Repayment of deposits etc. Accepted before the commencement of this Act | ||
3 | Companies capable of being registered | ||
4 | Obligations of companies registering under this part |
Notification Link:- http://www.mca.gov.in/Ministry/pdf/CommencementNotification0507_06072018.pdf
CRUX:-
Total notified sections under Companies Act, 2017:-
# | Section of Companies Amendment Act, 2017 | Amended Sections of Companies Act, 2013 | Particulars | Effective Date |
1 | Definitions | May 07, 2018 | ||
2 | Matters to be stated in prospectus | May 07, 2018 | ||
3 | Issue of sweat equity shares | May 07, 2018 | ||
4 | Sections 18 and 19 | Section 77 & 78 | Duty to Register of charges, etc. and Application for Registration of charge | May 07, 2018 |
5 | Declaration in respect of Beneficial Interest in any share | May 07, 2018 | ||
6 | Annual return | May 07, 2018 | ||
7 | Sections 30 and 31 | Resolutions and Agreements to be filed | May 07, 2018 | |
Report on Annual General meeting | May 07, 2018 | |||
8 | Financial Statement | May 07, 2018 | ||
9 | Sections 39 and 40; | Copy of financial statement to be filed with registrar | May 07, 2018 | |
Appointment of Auditors | May 07, 2018 | |||
10 | Company to have Board of Directors | May 07, 2018 | ||
11 | Company to inform DIN to registrar | May 07, 2018 | ||
12 | Disqualification for appointment of Directors | May 07, 2018 | ||
13 | Sections 54 to 58 (both inclusive); | Vacation of office of Directors | May 07, 2018 | |
Resignation of Director | May 07, 2018 | |||
Meetings of Board | May 07, 2018 | |||
Audit Committee | May 07, 2018 | |||
Nomination and Remuneration Committee and Stakeholders Relationship committee | May 07, 2018 | |||
14 | Sections 61 and 62; | Loan to Directors, etc. | May 07, 2018 | |
Loan and Investment by company | May 07, 2018 | |||
15 | Fee for filing etc. | May 07, 2018 | ||
16 | Constitution of appellate tribunal | May 07, 2018 | ||
17 | Sections 86 to 89 (both inclusive). | Establishments of special courts | May 07, 2018 | |
Application of code to proceedings before special court | May 07, 2018 | |||
Offences to be non-cognizable | May 07, 2018 | |||
Transitional Provisions | May 07, 2018 | |||
18 | Register of Significant beneficial Owners in a Company | June 13, 2018 | ||
19 | Return to be filed with Registrar in case of promoter stake changes | June 13, 2018 | ||
20 | Place of keeping and inspection of registers and returns etc. | June 13, 2018 | ||
21 | Annual General Meeting | June 13, 2018 | ||
22 | Investigation of ownership of Company | June 13, 2018 | ||
23 | Declaration in respect of Beneficial Interest in any share | June 13, 2018 | ||
24 | Company to report satisfaction of charge | July 05, 2018 | ||
25 | Prohibition on acceptance of deposits from public | August 15, 2018 | ||
26 | Repayment of deposits etc. Accepted before the commencement of this Act | August 15, 2018 | ||
27 | Companies capable of being registered | August 15, 2018 | ||
28 | Obligations of companies registering under this part | August 15, 2018 |
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