Amendments in Companies Act
Companies Act 2013 has been enacted only last year and so far a little more than half of its provisions have come into force. Matters arising from the operation of provisions already brought in force are getting attention of Government in the form of issue of circulars, suitable statutory orders and amendments in Rules to remove doubts or practical difficulties; amendments in the Act would be considered in case the above measures prove insufficient.
This was stated by Smt. Nirmala Sitharaman, MoS in the Ministry of Corporate Affairs in written reply to a question in the Rajya Sabha today.
Relaxation in Companies Act
Section 462 of the Companies Act 2013 envisages relaxations in the form of not applying some provisions of the Act or applying them with exceptions or modifications to specific class/classes of companies. Before grant of such relaxation, draft notifications have to be laid before each House of Parliament. Preparation of such notification is under active consideration.
This was stated by Smt. Nirmala Sitharaman, MoS in the Ministry of Corporate Affairs in written reply to a question in the Rajya Sabha today.
