Nidhi (Amendment) Rules, 2019

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....shall be inserted, namely:- "(d) every company declared as Nidhi or Mutual Benefit Society under sub-section (1) of section 406 of the Act". 3. In the said rules, in rule 3, after clause (d), the following clause shall be inserted, namely:- '(da) "Nidhi" means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with the rules made by the Central Government for regulation of such class of companies.'. 4. In the said rules, after rule 3, the following rule shall be inserted, namely:- "3A. Declaration of Nidhis .- The Central ....

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....all be inserted, namely:- "Provided that the Regional Director may extend the period upto one year from the date of receipt of application." (iii) in sub-rule (4), after the words, brackets and figure "contained in sub-rule (1)" , the words, brackets and figures "and gets itself declared under sub-section (1) of section 406" shall be inserted. 7. In the said rules, in rule 7, in sub-rule (1), after the words "shall issue" the words "fully paid up" shall be inserted. 8. In the said rules, in rule 12,- (i) in sub-rule (1) after clause (b), the following clause shall be inserted namely : - '(ba) The date of declaration or notification as Nidhi ";"; (ii) in sub-rule (2), in clau....