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The President promulgated the Companies Amendment Ordinance, 2018 vide Ordinance No. 9/2018-19 dated 02.11.2018, wherein; various sections under Companies Act, 2013 have been amended.

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

 

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