LIST OF NOTIFIED SECTIONS COMPANIES AMENDMENT ACT, 2020

List of Notified Sections- Companies Amendment Act, 2020- As of 10th March 2021

Summary:

The government has passed the Companies (Amendment) Bill, 2020 as Bill No. 88 of 2020 to further amend the Companies Act, 2013 on March 12, 2020. Companies (Amendment) Bill, 2020 based on CLC Committee. CLC Committee submitted its report in November 2019.

There are amendments in 66 Sections of the Companies Act, 2013

Title Ministry Introduced in LS/ RS Passed in LS Passed in RS
The Companies (Amendment) Bill, 2020 Corporate Affairs March 17, 2020 September 19 ,2020 September 22 ,2020

45 Sections: Ministry of Corporate Affairs by Circulated Dated 21st December 2020 has already notified 45 Sections of the Companies Amendment Act, 2020 w.e.f. 21st December 2020. Out of 66 Sections, 21 Sections are pending.

12 Sections Ministry of Corporate Affairs has further issued one more Circular Dated January 22, 2021, and notified 12 more sections of the Companies Amendment Act, 2020 w.e.f. January 22, 2021. Out of the remaining 21 sections, 9 Sections are pending.

2 Sections: MCA has further issued one more notification recently on 11th February 2021 and notified 2 more sections of the Companies Amendment Act, 2020. Out of the remaining 09 sections, 7 Sections are pending.

Therefore, total 7 (4,5,23,32,40,45,56) sections out of 66 sections of Companies (Amendment) Act, 2020 is still pending for notification.

S. No. Section of CA 2020. Section of CA 2013 Name of Section
1.       1 1 Short Title, Extent, Commencement and Application.
2.       2 2 Definition
3.       3 8 Formation of Companies with Charitable Objects, etc.
4.       6 26 Matters to be Stated in Prospectus
5.       7 40 Securities to be Dealt with in Stock Exchanges
6.       8 48 Variation of Shareholders’ Rights.
7.       9 56 Transfer and Transmission of Securities
8.       10 59 Rectification of Register of Members.
9.       11 62 Further issue of share (right issue)
10.    12 64 Notice to be Given to Registrar for Alteration of Share Capital
11.    13 66 Reduction of Share Capital.
12.    14 68 Power of Company to Purchase its Own Securities
13.    15 71 Debentures
14.    16 86 Punishment for Contravention.
15.    17 88 Register of Members, etc.
16.    18(a) and (b) and (c) 89 Declaration in Respect of Beneficial Interest in any Share
17.    19 90 Register of significant beneficial owners in a company
18.    20 92 Annual Return
19.    21 105 Proxies
20.    22 (i & ii) 117 Resolutions and Agreements to be Filed
21.    24 128 Books of Account, etc., to be kept by Company
22.    25 New 129A New Section – Periodical Financial Result.
23.    26 134 Financial Statement, Board’s Report, etc.
24.    27 135 CSR
25.    28 137 Copy of Financial Statement to be Filed with Registrar
26.    29 140 Removal, Resignation of Auditor and Giving of Special Notice
27.    30 143 Powers and Duties of Auditors and Auditing Standards
28.    31 147 Punishment for Contravention
29.    33 165 Number of Directorships
30.    34 167 Vacation of Office of Director
31.    35 172 Punishment
32.    36 178 Nomination and Remuneration Committee and Stakeholders Relationship Committee
33.    37 184 Disclosure of Interest by Director
34.    38 187 Investments of Company to be Held in its Own Name
35.    39 188 Related Party Transactions
36.    41 204 Secretarial Audit for Bigger Companies
37.    42 232 Merger and Amalgamation of Companies.
38.    43 242 Powers of Tribunal
39.    44 243 Consequence of Termination or Modification of Certain Agreements
40.    46 284 Promoters, Directors, etc., to Cooperate with Company Liquidator.
41.    47 302 Dissolution of Company by Tribunal.
42.    48 342 Prosecution of Delinquent Officers and Members of Company
43.    49 347 Disposal of Books and Papers of Company.
44.    50 348 Information as to Pending Liquidations.
45.    51 356 Powers of Tribunal to Declare Dissolution of Company Void.
46.    52 378A to 378ZU a new chapter for provisions of Producer Company shall be added
47.    53 379 Application to act to a Foreign Company
48.    54 392 Punishment for Contravention
49.    55 393A New Section – Exemption under Chapter 22
50.    57 405 Power of Central Government to Direct Companies to Furnish Information or Statistics.
51.    58 410 Constitution of the Aappellate Tribunal
52.    59 418 Staff of the Tribunal and the Appellate Tribunal
53.    60 435 Establishment of the special Court
54.    61 441 Compounding of Certain Offences
55.    62 446B Lesser penalty of an OPC or the Small Company
56.    63 450 Punishment Where No Specific Penalty or Punishment is Provided.
57.    64 452 Punishment for the wrongful withholding of the property
58.    65 454 Adjudication of the penalty
59.    66 465 Repeal of Certain enactments savings

Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).

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