Summary of Rule and Notification in Companies Act, 2013 issued on 22/05/2019 is provided below:
- National Financial Reporting Authority (Meeting for Transaction of Business) Rules, 2019:
MCA has introduced new Rule to define the procedure to be undertaken by the Authority with regard to convening meetings, eligibility of persons to attend the meeting, maintenance of minutes of such meetings and other procedural aspects. Read more… - The Companies (Prospectus and Allotment of Securities) Third Amendment Rules, 2019:
These rules shall come into effect from 30th September 2019. Through this notification, sub-rules 8 and 8A in Rule 9A of Companies (Prospectus and Allotment of Securities) Rules, 2014 are substituted and inserted, respectively. The revised rule mandates every unlisted public company governed by this rule to submit Form PAS-6 (“Reconciliation of Share Capital Audit Report (Half-yearly)”). Information pertaining to shares of the company held in dematerialised and physical form and changes made to it in the previous half-year must be submitted in Form PAS-6 to the Registrar within sixty days from the conclusion of each half year. The form has to be duly certified by a company secretary in practice or chartered accountant in practice. Further, the company shall immediately bring to the notice of the depositories any difference observed in its issued capital and the capital held in dematerialised form. Read more…
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