MCA vide notification no. S.O _____(E) on Friday, 09th February, 2018 have appointed 09th February, 2018 as the date on which the provisions of the following sections of the Companies (Amendment) Act, 2017 shall come into force.
|Sr. No||Section of Companies (Amendment) Act, 2017||Section pertains to|
|1.||Section 2(except clause (i) and (xiii)||Definitions
|2.||Section 3||Formation of a Company; Insertion of new section 3A (Members severally liable in certain cases)|
|3.||Section 7||Authentication of Documents, Proccedings and Contracts|
|4.||Section 9||Civil Liability for Mis-statements in Prospectus|
|5.||Section 11||Voting rights|
|6.||Section 12||Prohibition on Issue of Shares at Discount|
|7.||Section 14||Further issue of Share Capital|
|8.||Section 17||Punishment for Contravention of section 73 or 76|
|9.||Section 27 to 29||Calling of Extra-Ordinary General Meeting;
Notice of Meeting;
|10.||Section 32||Declaration of Dividend|
|11.||Section 34 and 35||Re-opening of Accounts on Court’s or Tribunal’s Orders;
Constitution of National Financial Reporting Authority.
|12.||Section 38||Right of Member to Copies of Audited Financial Statement|
|13.||Section 41 to 45 (both inclusive)||Removal, Resignation of Auditor and Giving of Special Notice;
Eligibility, Qualifications and Disqualifications of Auditors;
Powers and Duties of Auditors and Auditing Standards;
Punishment of Contravention of section 139 to 146
Central Government to Specify Audit of Items of Cost in Respect of Certain Companies.
|14.||Section 47 and 48||Appointment of Directors;
Application for Allotment of Director Identification Number.
|15.||Section 50 to 51||Right of Persons Other than Retiring Directors to Stand for Directorship;
Appointment of Additional Director, Alternate Director and Nominee Director.
|16.||Section 53||Number of Directorships|
|17.||Section 59 and 60||Restrictions on Powers of Board;
Disclosure of Interest of Director.
|18.||Section 63 to 65 (both inclusive)||Related party transactions;
Prohibition on Forward Dealings in Securities of Company by Director or key Managerial Personnel.
Prohibition on Insider Trading of Securities
|19.||Section 72 to 74 (both inclusive)||Inspector’s Report;
Purchase of Minority Shareholding;
|20.||Section 77 to 79
|Application of Act to Foreign Companies
Debentures, Annual Return, Registration of Charges, Books of Account and their Inspection, in respect of foreign Companies;
Application of Sections 34 to 36 and Chapter XX.
|21.||Section 82||Qualification of President and Members of NCLT|
|22.||Section 84 and 85||Qualifications of Chairperson and Members of Appellate Tribunal;
Selection of Members of Tribunal and Appellate Tribunal.
|23.||Section 90 to 93
|Compounding of certain offences;
Factors for determining level of punishment;
Punishment for fraud;
Delegation by Central Governemnt of its Powers and Functions.
The said Notification can be accessed from the following link:MCA Noti 28_S.O (E)_09.02.2018_Commencement sections Amendment Act, 2017