Small company definition changed: paid-up capital and turnover ceilings revised, altering eligibility for simplified compliance. The amendment revises the statutory criteria for small company status by substituting clause (t) in rule 2 to set explicit ceilings for paid-up capital and turnover that determine eligibility as a small company, thereby altering the quantitative thresholds controlling which companies qualify for regulatory concessions and simplified compliance.
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Small company definition changed: paid-up capital and turnover ceilings revised, altering eligibility for simplified compliance.
The amendment revises the statutory criteria for small company status by substituting clause (t) in rule 2 to set explicit ceilings for paid-up capital and turnover that determine eligibility as a small company, thereby altering the quantitative thresholds controlling which companies qualify for regulatory concessions and simplified compliance.
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