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MCA Vide Notification No- G.S.R.__(E) dated 08.02.2019 has issued Companies (Significant Beneficial Owners) Amendment Rules, 2019.

MCA Vide Notification No- G.S.R.__(E) on Friday, 8th February, 2019 has issued Companies (Significant Beneficial Owners) Amendment Rules, 2019 to amend the Companies (Significant Beneficial Owners) Rules, 2018, wherein;

  • In rule 2, in sub-rule (1), clauses (b) to (e) shall be substituted and clause (f) to (i) shall be inserted.
  • Rule 3 and 4 shall be substituted with rule 2A, rule 3 and rule 4.
  • Rule 7 and 8 shall be substituted and;
  • Form No. BEN-1, Form No. BEN-2, Form No. BEN-3 and BEN4 shall be substituted.

As per these Rules,

  • Every individual who is a significant beneficial owner in a reporting company, as on the date of commencement of these rules, shall file a declaration in Form No. BEN-1 to the reporting company within ninety days from such commencement and;
  • Every individual, who subsequently becomes a significant beneficial owner/ or where his significant beneficial ownership undergoes any change shall file a declaration in Form No. BEN-1 to the reporting company, within thirty days of acquiring such significant beneficial ownership or any change therein.

The said Notification can be accessed through the following link: MCANotf_GSR_08022019_SBORules2019

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