Companies (Declaration of Beneficial Interest in Shares) Rules, 1975

Companies (Declaration of Beneficial Interest in Shares) Rules, 1975

Note :- Provisions of section 187C have become redundant on and after the commencement of the Companies (Amendment) Act, 2000.

In exercise of the powers conferred by section 187-C, read with clause (a) of sub-section (1) of section 642, of the Companies Act, 1956 (1 of 1956), the Central Government hereby makes the following rules, namely :-

1. Short title and commencement.-

(1)These rules may be called The Companies (Declaration of Beneficial Interest in Shares) Rules, 1975.

(2)They shall come into force on the date of their publication in the Official Gazette.

2.     Definitions.-

In these rules, unless the context otherwise requires,-

(i) Act” means the Companies Act, 1956 (1 of 1956) ;

(ii) form” means a form annexed to these rules ;

(iii) “section” means a section of the Act.

3.  Form of Declaration and the particulars to be contained therein.-

(1) The declaration required to be made by a person referred to in sub-section (1) of section 187-C shall-within thirty days from the commencement of these rules, or within thirty days after his name is entered in the register of members of a company as the holder of a share in that company, whichever is later, be made to the company in Form I in duplicate.

(2) The declarations required to be made by a person who holds a beneficial interest in the shares of a company under sub-section (2) or sub-section (3) of section 187-C shall be made to the company in Form II in duplicate.

(3)  The return required to be filed by the company with the Registrar under sub­section (4) of section 187-C shall be in Form III and shall be accompanied by a copy each of all the declarations made to the company under sub-rules (1) and (2).

(4)    The period of thirty days will start from the date on which complete declarations are received by the company (Departmental Circular dated 5.8.1976).

——————–

FORM I : Declaration by the person referred to in section 187C(1) of the Companies Act, 1956 (1 of 1956)

[See rule 3(1)]

To

____________________________

(Name of the company)

____________________________

(Address of the registered office)

In pursuance of sub-section (1) of section 187C of the Companies Act, 1956 (1 of 1956), I hereby declare that ______________________ hold(s) the beneficial interest in ______________________________ shares bearing Nos. ____________

                                                         (number)          (kind)

________________ which are entered in my name in the register of members of the company as the holder of such shares. The particulars of such person(s) who hold the beneficial interest in the said shares are given below:

1. Sl. No.	Name	Father’s/ Husband’s Name	Age	Occupation	Address	Nationality

 2. Nature of the beneficial interest:

3. Date of acquisition of the beneficial interest:

4. Reasons why the shares have not been registered in the name of the person(s) holding the beneficial interest in the register of the company:

5. Paid-up value of such share(s):

Place ___________

Date ___________

__________________________

Signature of the person making the declaration

___________________________

Name and address

—–

FORM II : Declaration to be made by a person referred to in sub-section (2) or sub-section (3) of section 187C of the Companies Act, 1956 (1 of 1956)

[See rule 3(2)]

To

___________________________

(Name of the company)

___________________________

(Address of the registered office)

In pursuance of sub-section (2)/sub-section (3) of section 187C of the Companies Act, 1956 (1 of 1956), I hereby declare that I hold/have obtained the beneficial interest in _________________________________________ shares bearing Nos. _____________ and (number) (kind)

specify the following particulars, namely:

1. Sl. No.	Name	Father’s/ Husband’s Name	Age	Occupation	Address	Nationality

2. Date of allotment/transfer of the shares in the name of the person or persons referred to above:

3. Date of acquisition of the beneficial interest:

4. Particulars of the person from whom the beneficial interest is acquired; if the transferor of the beneficial interest is also a person who held only a beneficial interest, state whether any declaration under sub-section (2) of section 187C had been made by him to the company. If so, the date of the declaration(s) made by him:

5. Nature of the beneficial interest:

6. Circumstances under which the shares were not registered in my name:

Place ___________

Date ___________

__________________________

Signature of the person making the declaration

____________________________

Name and address

CERTIFICATE

I hereby certify that the beneficial interest in the shares mentioned above has been transferred by me on _____________________________

(date)

_______________________________________

Signature of the person who has transferred the

beneficial interest in the shares

——————–

FORM III : Form of return to be filed with the Registrar pursuant to sub-section (4) of section 187C of the Companies Act, 1956 (1 of 1956)

Name of the Company __________	Registration No. of the Company __________
Address of its Registered Office __________	Nominal Capital __________

 —-

Sl. No.	Particulars of shares in respect of which the person whose name is entered in the register of numbers of the company as a holder thereof does not hold the beneficial interest in such shares		Particulars of persons in whose names the above shares have been registered as holders in the register of members		Particulars of persons who hold a beneficial interest in such shares		Nature of the beneficial interest	Dates of declarations under sub-sections (1), (2) and (30 received in respect of the said shares together with names of declarant	Dates of receipt of the said declarations by the company
1	2		3		4		5	6	7
No. of shares	Distinctive Nos. of shares		Name and Nationality		Name and Nationality
	Kind of shares		Address		Address
	Face value of shares		Father’s/ Husband’s name		Father’s/ Husband’s name
	Paid-up value of shares		Date of entry of name in register		Occupation

Date _________

___________________________________

Signature of person signing on behalf of the company

Foot Note

1. Published vide Notification No. GSR 53(E), dated 20th. February, 1975.