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MCA vide Notification no. S.O _____(E) dated 09.02.2018 have notified sections of the Companies (Amendment) Act, 2017:

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;

Postal Ballot.

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;

Registered Valuers.

20. Section 77 to 79

(both inclusive)

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

(both inclusive)

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

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