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Transitional compliance under Companies Act requires prior memorandum definitions and existing accounting standards to remain operative until new rules. Clarifies transitional application of select Companies Act, 2013 provisions: Registrars may register MOA/AOA received up to 11.9.2013 under the private company definition of the Companies Act, 1956; statements annexed to notices of general meetings issued on or after 12.9.2013 must meet new Act requirements; existing Accounting Standards under the 1956 Act remain effective until new standards are prescribed; and resolutions for meetings with notices issued before 12.9.2013 may be passed under the Companies Act, 1956 voting requirements.
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Transitional compliance under Companies Act requires prior memorandum definitions and existing accounting standards to remain operative until new rules.
Clarifies transitional application of select Companies Act, 2013 provisions: Registrars may register MOA/AOA received up to 11.9.2013 under the private company definition of the Companies Act, 1956; statements annexed to notices of general meetings issued on or after 12.9.2013 must meet new Act requirements; existing Accounting Standards under the 1956 Act remain effective until new standards are prescribed; and resolutions for meetings with notices issued before 12.9.2013 may be passed under the Companies Act, 1956 voting requirements.
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