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List of notified sections of Companies (Amendment) Act, 2017 till 07.05.2018

Various sections of Companies(Amendment) Act, 2017 had been notified by the Government.The note summarizes the sections which have been notified till date.

Companies (Amendment) Act, 2017 was assented by Hon’ble president on the 3rd January, 2018 and after that three notification been issued by which various Section of Companies Amendment Act, 2017 been notified which are as under-

A. Sections which have been notified w.e.f. 26th January, 2018 of Companies (Amendment) Act, 2017 vide notification no. S.O. 351(E) dated 23 January, 2018

Sl.No. Sections of Co.(Amendment) Act, 2017 Amended Section of Companies Act, 2013 Title
1 Section 1 N.A Short title and commencement
2 Section 4 Section 4 Memorandum

B. Sections which have been notified w.e.f. 9th February, 2018 of Companies (Amendment) Act, 2017 vide Notification No. S.O. 630(E) dated 9th February, 2018

Sl.No. Sections of Co.(Amendment) Act, 2017 Amended Section of Companies Act, 2013 Title
1 Section 2(except clause(i) and clause(xiii)) Section 2 (except clause 6 and clause 87) Definitions w.r.t Cost Accountant 2(28), Debenture 2(30),Financial Year 2(41), Holding Company 2(46), Interested Director2(49)(omitted),Key Managerial Personnel 2(51), Net worth 2(57), Public Company 2(71), Public Financial Institution 2(72),Related Party 2(76), Small Company 2(85), Turnover 2(91), have been amended. Definitions w.r.t. Associate Company& Subsidiary Company has not yet been notified.
2 Section 3 Insertion of Section 3A Member severally liable in certain cases
3 Section 7 Section 21 Authentication of Documents, Proceedings & Contracts
4 Section 9 Section 35 Civil liability for mis-statements in prospectus
5 Section 11 Section 47 Voting Rights
6 Section 12 Section 53 Prohibition on issue of shares at discount
7 Section 14 Section 62 Further issue of share capital
8 Section 17 Section 76A Punishment in contravention of acceptance of deposits
9 Section 27 Section 100 Calling  of Extra-General Meeting
10 Section 28 Section 101 Notice of Meeting
11 Section 29 Section 110 Postal Ballot
12 Section 32 Section 123 Declaration of Dividend
13 Section 34 Section 130 Re-opening of accounts on court’s or Tribunal’s order
14 Section 35 Section 132 Constitution of National Financial reporting Authority(NFRA)
15 Section 38 Section 136 Right of member to copies of audited financial statement
16 Section 41 Section 140 Removal, resignation of auditor and giving of special notice
17 Section 42 Section 141 Eligibility, qualifications and disqualifications of auditors
18 Section 43 Section 143 Powers and duties of auditors and auditing standards
19 Section 44 Section 147  Punishment on contravention of provisions relating to appointment of auditors( Section 139 to Section 146)
20 Section 45 Section 148 Central Government to specify audit of items of cost in respect of certain companies
21 Section 47 Section 152 Appointment of directors
22 Section 48 Section 153 Application for allotment of DIN
23 Section 50 Section 160 Right of persons other than retiring directors to stand for directorship
24 Section 51 Section 161 Appointment of additional director, alternate director and nominee director
25 Section 53 Section 165 Number of directorships
26 Section 59 Section 180 Restrictions on powers of Board
27 Section 60 Section 184 Disclosure of interest by directors
28 Section 63 Section 188 Related Party Transactions
29 Section 64 Section 194 Prohibition on forward dealings in securities of company by director or key managerial personnel(Omitted)
30 Section 65 Section 195 Prohibition on insider trading of securities(Omitted)
31 Section 72 Section 223 Inspector’s Report
32 Section 73 Section 236 Purchase of minority shareholding
33 Section 74 Section 247 Valuation by registered valuers
34 Section 77 Section 379 Application of Act to Foreign Companies
35 Section 78 Section 384 Debentures, Annual return, registration of charges, books of Account and their inspection
36 Section 79 Section 391 Application of section 34 to 36 and Chapter XX (Winding Up)
37 Section 82 Section 409 Qualification of president and Members of National Company Law Tribunal(NCLT)
38 Section 84 Section 411 Qualification of Chairperson and Members of National Company Law Appellate Tribunal (NCLAT)
39 Section 85 Section 412 Selection of Members of NCLT & NCLAT
40 Section 90 Section 441 Compounding of certain offences
41 Section 91 Insertion of Section 446A & 446B Factors for determining level of punishment & Lesser penalties for one Person Companies or Small companies
42 Section 92 Section 447 Punishment for fraud
43 Section 93 Section 458 Delegation by Central Government of its powers and functions

C. Sections which have been notified w.e.f. 7th May, 2018 of Companies (Amendment) Act, 2017 vide Notification No. S.O. 1833(E) dated 07th May, 2018

Sl.No. Sections of Co.(Amendment) Act, 2017 Amended Section of Companies Act, 2013 Title
1 Section 2(clause(i) and clause(xiii)) Section 2 (clause 6 and clause 87) Definitions w.r.t Associate Company and Subsidiary Company.
2 Section 8 Section 26 Matters to be stated in Prospectus
3 Section 13 Section 54 Issue of Sweat Equity Shares
4 Section 18 Section 77 Duty to register Charges etc.
5 Section 19 Section 78 Application for registration of Charge
6 Section 21(clause i and ii) Section 89 Declaration with respect of beneficial interest in any share
7 Section 23(clause iii and iv) Section 92 Annual Return
8 Section 30 section 117 Resolution and Agreements to be filed
9 Section 31 section 121 Report on Annual General Meeting
10 Section 33 section 129 Financial Statement
11 Section 39 section 137 Copy of financial statement to be filed with Registrar
12 Section 40 section 139 Appointment of auditors
13 Section 46 section 149 Company to have Board of Directors
14 Section 49 section 157 Company to inform Director Identification Number to Registrar
15 Section 52 section 164 Disqualification from Appointment of Director
16 Section 54 section 167 Vacation of office of Director
17 Section 55 section 168 Resignation of Director
18 Section 56 section 173 Meetings of Board
19 Section 57 section 177 Audit Committee
20 Section 58 section 178 Nomination and Remuneration Committee and Stakeholder Relationship Committee
21 Section 61 section 185 Loans to directors, etc.
22 Section 62 section 186 Loans and Investment by Company
23 First proviso to clause i of Section 80 and clause ii of Section 80 section 403 Fee for filing etc.
24 Section 83 section 410 Constitution of Appellate Tribunal
25 Section 86 section 435 Establishment of Special Courts
26 Section 87 section 438 Application of Code to proceedings before a Special Court
27 Section 88 section 439 Offences to be Non- Cognizable
28 Section 89 section 440 Transitional Provisions
Categories: Company Law
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