PDF DOWNLOAD

 

 

Companies amendment: new commencement checks, strengthened registrar powers, and higher, standardised penalties for compliance failures. A new section 10A requires newly incorporated companies with share capital to file a director's declaration within 180 days confirming subscribers have paid for shares and to verify the registered office before commencing business or borrowing; Registrar may initiate name-removal where companies appear inactive. Amendments expand Registrar verification powers, revise charge registration timelines and rectification mechanisms, and substantially increase and standardise penalties and continuing-failure daily fines across multiple compliance provisions, including a doubled-penalty rule for repeated defaults within three years.