Companies (Amendment) Act, 2017 and Companies (Incorporation) Third Amendment Rules, 2018 By Joint Director, ICSI

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ICSI, Companies Act 2013, Amendments,

30th July, 2018

Dear Professional Colleagues,

Subject: Companies (Amendment) Act, 2017 and Companies (Incorporation) Third Amendment Rules, 2018 – Reg.

The Ministry of Corporate Affairs vide its notification dated 27th July, 2018 has notified Section 5 & Section 6 of the Companies (Amendment) Act, 2017 w.e.f. 27th July, 2018.

S. No.

Section of Companies (Amendment) Act, 2017

Amended Section of Companies Act, 2013

Title

Section 5

Item (c) of sub-section (1) of section 7

Incorporation of a Company:

The requirement of affidavit from first subscribers and directors has been replaced with a declaration therefrom

Section 6

Sub-section (1) and (4) of section 12

Registered Office of the Company:

The time limit for having a registered Office for a company and communication of the change of situation of registered office with the ROC has been enhanced from 15 days to 30 days from the date of incorporation and the date of change respectively.

The notification for the above is available at the following link:

http://www.mca.gov.in/Ministry/pdf/CommencementNotiAmendment27_30072018.pdf

The Ministry has also notified the Companies (Incorporation) Third Amendment Rules, 2018, for Substitution of Explanation to Rule 3(1) relating to the meaning of the term ‘Resident in India’ and Rule 15 pertaining to Affidavit from Subscribers and First Directors.

The notification for the above is available at the following link

http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporation3rdRules27_30072018.pdf

This is for your information, please.

Regards,

CS Banu Dandona

Joint Director, ICSI