In continuation to what was reported earlier (please refer to the trailing e-mails for a detailed read), the Ministry of Corporate Affairs (“MCA”), has appointed 21st December, 2020 as the day when the following provisions of the Companies (Amendment) Act, 2020 have gained effect:
| Provision Reference of Companies (Amendment) Act 2020 | Amended Provision of Companies Act, 2013
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| Section 1
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Short title and commencement |
| Section 3 | Amendment to Section 8 – Formation of companies with charitable objects
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| Sections 6 | Amendment to Section 26 – Matters to be stated in prospectus
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| Section 7 | Amendment to Section 40 – Securities to be dealt with in stock exchanges
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| Section 8 | Amendment to Section 48- Variation of shareholder’s rights
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| Section 9 | Amendment to Section 56- Transfer and transmission of securities |
| Section 10 | Amendment to Section 59- Rectification of register of members
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| Section 12 | Amendment to Section 64 – Notice to be given to Registrar for alteration of share capital
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| Section 13 | Amendment to Section 66- Reduction of share capital
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| Section 14 | Amendment to Section 68 – Power of company to purchase its own securities.
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| Section 15 | Amendment to Section 71 – Power to nominate |
| Section 16 | Amendment to Section 86 – Punishment for contravention |
| Section 17 | Amendment to Section 88 – Register of members |
| Clauses (a) and (b) of section 18 | Amendment to Section 89 – Declaration in respect of beneficial interest in any share
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| Sections 19 | Amendment to Section 90- Investigation of beneficial ownership of shares in certain cases
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| Section 20 | Amendment to Section 92- Annual return
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| Section 21 | Amendment to Section 105- Proxies |
| Clause (i) of section 22 | Amendment to Section 117- Resolutions and agreements to be filed
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| Section 24 | Amendment to Section 128- Books of account, etc., to be kept by company |
| Section 26 | Amendment to Section 134- Financial statement, Board‘s report, etc |
| Sections 28 | Amendment to Section 137 – Copy of financial statement to be filed with Registrar
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| Section 29 | Amendment to Section 140- Removal, resignation of auditor and giving of special notice.
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| Section 30 | Amendment to Section 143- Powers and duties of auditors and auditing standards
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| Section 31 | Amendment to Section 147- Punishment for contravention
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| Sections 33 | Amendment to Section 165 – Number of directorships
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| Section 34 | Amendment to Section 167- Vacation of office of director
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| Section 35 | Amendment to Section 172 – Punishment.
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| Section 36 | Amendment to Section 178- Nomination and Remuneration Committee and Stakeholders Relationship Committee
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| Section 37 | Amendment to Section 184- Disclosure of interest by director
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| Section 38 | Amendment to Section 187- Investments of company to be held in its own name.
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| Section 39 | Amendment to Section 188- Register of contracts or arrangements in which directors are interested
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| Sections 41 | Amendment to Section 204- Secretarial audit for bigger companies.
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| Section 42 | Amendment to Section 232- Merger and amalgamation of companies
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| Section 43 | Amendment to Section 242- Powers of Tribunal
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| Section 44 | Amendment to Section 243- Consequence of termination or modification of certain agreements
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| Section 46 | Amendment of section 284 – Promoters, directors, etc., to cooperate with Company Liquidator |
| Section 47 | Amendment of section 302- Appeals from orders made before commencement of Act |
| Section 48 | Amendment to Section 342- Prosecution of delinquent officers and members of company
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| Section 49 | Amendment to Section 347 – Disposal of books and papers of company
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| Section 50 | Amendment to Section 348 – Information as to pending liquidations |
| Section 51 | Amendment to Section 356 -Power of Tribunal to declare dissolution of company void |
| Section 54 | Amendment to Section 392- Punishment for contravention |
| Section 57 | Amendment to Section 405- Power of Central Government to direct companies to furnish information or statistics. |
| Section 61 | Amendment to Section 441- Compounding of certain offences. |
| Section 63 | Amendment to Section 450- Punishment where no specific penalty or punishment is provided |
Source: Ministry of Corporate Affairs
