Company Law as on June’14

In a recent communication to its students, Institute of Company Secretaries of India identified provisions of company law as applicable on 30^th June 2014. This is cut –off date regarding applicability of law for its December examination. I am sharing relevant information for my readers.

Sections of the Companies Act, 2013 which have come into force by 30^th June, 2014 and applicable for December 2014 Examinations:

Section 2 Clauses (1) to (28), (29) [ except sub-clause  (iv)], (30) to  (40), (41) (except first proviso), (42) to (66), (67) (except sub-clause (ix), (68) to (95); Sections 3 to   6,  7 (except sub-section   (7),  8 (except sub- section  (9),  9 to 13,  14 (except second proviso to sub­ section  (1) and sub-  section (2)),  15 to 47, 49 to 54,  55 except sub-section   (3) ,  56 to   60,  61  except  proviso to   clause (b) of sub-section   (1),  62 except sub- sections  (4) to (6),  63 to 65,  67 to 70,  71 except sub- section  (9) to (11),   72 ,  73,  Sub-section   (1) of   74,  76  to   96 ,100 to 118,  119 (except sub-section ­  (4)),  120 to 123, 126 to 129, 133 to 139,  140 (except second proviso to sub-section (4) and sub-section (5),  141 to 168,  169 except sub-section (4), 170 to 211,  212 (except sub­ –section  (8) to (10));  214,  215,  216 (except sub­-section (2)),  217,  219,  220,  223,  224(except sub- section  (2) and (5)),  225,  228,  229,  366,  to   369,  370(except proviso),  371,  374,  379 to   389,  390,  Sub-section   (1)  391, 392  to   398,  399 except reference of word Tribunal in sub- section  (2),  400 to 414,  439,  442  to    464 and  467  to  470 ;  Schedule I,  II, III,IV,V,VI and VII.

The Rules under the Companies Act, 2013 which have come into force by 30^th June, 2014 and applicable for December 2014 Examinations:

1. Companies (Corporate Social Responsibilities ) Rules, 2014
2. Companies (Specification of definition details) Rules, 2014
3. Companies (Incorporation) Rules , 2014
4. Companies(Prospectus and Allotment) Rules, 2014
5. Companies (Issue of Global Depository Receipts) Rules, 2014.
6. Companies(Share Capital and Debentures) Rules, 2014
7. Companies (Acceptance of Deposits) Rules, 2014.
8. Companies(Registration of Charges) Rules, 2014
9. Companies(Management and Administration) Rules, 2014
10. Companies (Declaration and Payment of Dividend) Rules, 2014.
11. Companies (Accounts) Rules, 2014.
12. Companies (Audit and Auditors) Rules, 2014.
13. Companies(Appointment and Qualification of Directors) Rules 2014
14. Companies(Meetings of Board and its powers) Rules 2014
15. Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
16. Companies (Inspection, Investigation and Inquiry) Rules, 2014
17. Companies (Authorized to Registered) Rules, 2014
18. Companies (Registration Offices and Fees) Rules, 2014
19. Nidhi Rules, 2014.
20. Companies (Registration of Foreign Companies) Rules, 2014.
21. Companies (Adjudication of Penalties) Rules, 2014.
22. Companies (Miscellaneous) Rules, 2014.
23. NCLT (Salary, allowances and other terms and conditions of service of president and other members) Rules,  2013
24. NCALT (Salaries, Allowances and other terms and conditions of service of chairperson and other members) Rules, 2013
25. Companies (Cost Records and Audit) Rules, 2014

Sections of the Companies Act, 1956 which continue to be in force as on 30^th June, 2014 and applicable for December 2014 Examinations:

Sections 10, 10E, 10F, Proviso to sub­ section (1) of  section  31,  Sub-section   (2A) of  section  31, 58A (5), (8) &(10),Proviso to section 80A(l) and 80A(2), Sub- section (4), (5) &(7) of   section 81, 94A, 100 to 107, 117B(4),  Sub- section  (4) & (5) of   section 117C, 167, 168, 186, 196(4), 205A, 205B, 205C, 210A, Proviso to sub­ section  (3) of  section  225, 237, 243,  Sub-section  (1A) of   section 247, 250,  250A, 251, Sub-section   (4) of   section 284, 390 to 394,  394A, 395, 396, 396A, 397, 398, 399, 401 to  404, 406, 407,  425 to 560,  proviso to  section  577,  580,  581,  581A to 581ZT,  582 to 587,  589,  590,  602(b) & (c),  621A,  622, 634A, 635B, 645, 652, to  655 and  658.

The Rules under the Companies Act, 1956 which continue to be in force as on 30^th June, 2014 and applicable for December 2014 Examinations:

1. Companies (Court) Rules, 1959
2. Companies Liquidation Accounts Rules, 1965
3. Companies (Official Liquidator’s Accounts) Rules, 1965
4. Companies Law Board Regulations, 1991
5. Companies Law Board(Fees on Applications and Petitions) Rules, 1991
6. Company Law Board (Qualifications, Experience and other conditions of service of members) Rules, 1993
7. The Offices of the Company Law Board Benches ( Destruction of Records)  Rules,1980
8. Investor Education and Protection Fund(Awareness and Protection of Investors)Rules, 2001
9. Producer Companies (General Reserve) Rules, 2003
10. Companies ( Accounting Standards) Rules, 2006
11. Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2012.