ICSI: HIGHLIGHTS OF THE COMPANIES (AMENDMENT) ACT, 2017
The Companies (Amendment) Act, 2017 which was passed by the Lok Sabha on July 27, 2017 and by the Rajya Sabha on December 19, 2017, has received the assent of the President of India on January 3, 2018 and subsequently published in the Gazette of India.
The amendment Act shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of the Act.
The said Amendment Act is placed at the link: http://taxguru.in/company-law/companies-amendment-act-2017-receives-presidents-assent.html
The amendments under the Companies (Amendment) Act, 2017, are broadly aimed at:
- addressing difficulties in implementation owing to stringent compliance requirements;
- facilitating ease of doing business in order to promote growth with employment;
- harmonisation with the Accounting Standards, the Securities and Exchange Board of India Act, 1992 and the regulations made thereunder, and the Reserve Bank of India Act, 1934 and the regulations made thereunder;
- rectifying omissions and inconsistencies in the Act.