Remaining Part of Companies Amendment Act became Effective


A gazette notification posted here on official website of the Gazette of India and posted on website of Ministry of Corporate Affairs says that Section 13 and Section 14 of the Companies (Amendment) Act, 2015 came into force with effect from 14th December 2015. The official language of notification read, “The Central Government hereby appoints the 14th day of December, 2015 as the date on which the provisions of section 13 and 14 of the said Act shall come into force.”

All other sections of the Companies (Amendment) Act, 2015 have already been notified earlier this year. We have earlier discussed all these provisions earlier here.

Two sections now notified yet deals with Fraud Reporting Procedure [Section 13 amending Section 143 of Principal Act] and Related Party Transactions[Section 14 amending Section 177 of Principal Act].

This may be good to note that Ministry of Corporate also amended two Companies Rules which will come into effect from date of their publication in Official Gazette.

The companies (Audit and Auditor) Amendment Rules, 2015

The Companies (Meetings of the board and its powers) Second Amendment Rules, 2015

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