The Companies (Incorporation) Eighth Amendment Rules, 2019

The Companies (Incorporation) Eighth Amendment Rules, 2019

The Ministry of Corporate Affairs notified the Companies (Incorporation) Eighth (8th) Amendment Rules, 2019 on 16th October 2019. The revised rule has amended the rule 8A, 25A and 28 of Companies (Incorporation) Rules, 2014.

As per the Notification made on 16th October, 2019, in exercising  the powers conferred through sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government thus had made the following rules in order to further amend the Companies (Incorporation) Rules, 2014, which includes: –

1. Short title and Commencement, which contains-

•    These rules might be called the Companies (Incorporation) Eighth Amendment Rules, 2019.

•    They would come into effect from the date of publication in the Official Gazette.

2. In the Companies (Incorporation) Rules, 2014 (hereafter referred to as the stated rules),

I. in rule 8A, in sub-rule (1), in clause (b), the words as well as figure “or applicant for registration,” would be omitted.

II. In rule 25A, - in sub-rule (1), in the 4th proviso, for the item (iii), the following would be substituted, specifically.-

“(iii) DIR-12 (changes in Director except in case of;

(a) cessation of any director, or 

(b) appointment of directors in such corporation where the total number of directors are below the minimum number provided in clause (a) of sub-section (1) of section 149 on account of disqualification of every or any of the director under section 164.

(c) appointment of any director in such corporation where DINs of all or any its directors was deactivated.

(d) appointment of directors for implementation of the order passed through the Court or Tribunal or Appellate Tribunal under the provisions of this Act or under the Insolvency and Bankruptcy Code, 2016).

III. In the stated rule 28, after sub-rule (1), the following rules would be incorporated, specifically.-

•    The Regional Director would examine the application referred towards in sub-rule (1) and the application might be put up for orders without hearing as well as the order either approving or rejecting the application would be passed within 15 days of the receiving of application complete in every respects.

•    The certified copy of order of the Regional Director, approving the alternation of memorandum for transfer of registered office corporation within the same State, would be filed in Form No.INC-28 along with fee with the Registrar of State within 30 days from the date of receiving of certified copy of the order.

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eStartIndia Team

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