MCA notifies 98 sections of Companies Act 2013

MCA notifies 98 sections of Companies Act 2013

The Ministry of Corporate Affairs showing its aggressiveness towards the implementation of the Companies Act 2013 has today notified 98 sections of the Companies Act 2013 by way of notification dated 12th September 2013. These sections has come into immediate effect from today i.e. 12th September 2013. Now we have to read both Companies Act 1956 and Act 2013 together.

The manner in which sections has been notified by the Ministry is also very interesting since in some notified section ,certain sub-sections has not been notified now and you have to follow that section except for the un-notified sub-section.

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The List of sections along with relevant text is given below. Please click on each section to view the text.

Chapter 1 - Preliminary Section 2- Definitions

Chapter II -Incorporation of Company and Matters Incidental Thereto Section 19- Subsidiary company not to hold shares in its holding company Section 21- Authentication of documents, proceedings and contracts Section 22- Execution of Acts of exchange, etc.

Chapter III -Prospectus and Allotment of Securities Section 23- Public offer and private placement Section 24- Power of Securities and Exchange Board to regulate issue and transfer of securities, etc. Section 25- Document containing offer of securities for sale to be deemed prospectus Section 29- Public offer of securities to be in dematerialised form. Section 30- Advertisement of prospectus. Section 31- Shelf prospectus Section 32- Red herring prospectus. Section 33- Issue of application forms for securities. Section 34- Criminal liability for mis-statements in prospectus. Section 36- Punishment for fraudulently inducing persons to invest money Section 37- Action by affected persons Section 35- Civil liability for mis-statements in prospectus Section 38- Punishment for personation for acquisition, etc., of securities Section 39- Allotment of securities by company Section 40- Securities to be dealt with in stock exchanges

Click here to read the complete list of sections & their text.