The President promulgated the Companies Amendment Ordinance, 2018 vide Ordinance No. 9/2018-19 on Friday, 2nd November, 2018, wherein; the following sections of Companies Act, 2013 have been amended. This Ordinance shall come into force at once.
| Sr. No. | Section
(as per Companies Act, 2013) |
Section pertains to | ||
| 1. | Section 2(41) | Definition of “financial year” | ||
| 2. | Section 10 (A) inserted | Commencement of business, etc. | ||
| 3. | Section 12 | Registered office of Company | ||
| 4. | Section 14 | Alteration of Arcticles | ||
| 5. | Section 53 |
Prohibition on Issue of Shares at Discount |
||
| 6. | Section 64 | Notice to be Given to Registrar for Alteration of Share Capital | ||
| 7. | Section 77 | Duty to Register Charges, etc. | ||
| 8. | Section 86 | Punishment for Contravention | ||
| 9. | Section 87 | Rectification by Central Government in Register of Charges | ||
| 10. | Section 90 |
Register of significant beneficial owners in a company |
||
| 11. | Section 92 | Annual Return | ||
| 12. | Section 102 | Statement to be Annexed to Notice | ||
| 13. | Section 105 | Proxies | ||
| 14. | Section 117 | Resolutions and Agreements to be Filed | ||
| 15. | Section 121 | Report on Annual General Meeting | ||
| 16. | Section 137 | Copy of Financial Statement to be Filed with Registrar | ||
| 17. | Section 140 | Removal, Resignation of Auditor and Giving of Special Notice | ||
| 18. | Section 157 | Company to Inform Director Identification Number to Registrar | ||
| 19. | Section 159 | Punishment for Contravention | ||
| 20. | Section 164 | Disqualifications for Appointment of Director | ||
| 21. | Section 165 | Number of Directorships | ||
| 22. | Section 191 | Payment to Director for Loss of Office, etc., in Connection with Transfer of Undertaking, Property or Shares | ||
| 23. | Section 197 | Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of Profits | ||
| 24. | Section 203 | Appointment of Key Managerial Personnel | ||
| 25. | Section 238 | Registration of Offer of Schemes Involving Transfer of Shares | ||
| 26. | Section 248 | Power of Registrar to Remove Name of Company from Register of Companies | ||
| 27. | Section 441 | Compounding of Certain Offences | ||
| 28. | Section 446B | Lesser penalties for One Person Companies or small companies | ||
| 29. | Section 447 | Punishment for Fraud | ||
| 30. | Section 454 | Adjudication of Penalties | ||
| 31. | Section 454A
inserted |
Penalty for repeated default |