Introduction-

The Companies Amendment Bill, 2017 had been passed by the Lok Sabha on 27th July 2017 and by Rajya Sabha on 19th December 2017 and received the assent of the President of India on 3rd January 2018 and the Bill become the Companies Amendment Act, 2017.

The Ministry of Corporate Affairs has notified most of the sections in two tranches via notifications dated 09th February 2018 and 07th May 2018.

LIST A: Ministry of Corporate Affairs vide Notification dated 05th July 2018,4 sections notified under Companies Amendment Act, 2017. These Sections will come into effect from 15th August 2018.

LIST B: Ministry of Corporate Affairs vide Notification dated 05th July 2018, 1 section notified under Companies Amendment Act, 2017.

LIST C: Ministry of Corporate Affairs vide Notification dated 13th June 2018 has 5 sections notified under the Companies Amendment Act, 2017.

LIST D: Ministry of Corporate Affairs already notified 28 Sections of the Companies Amendment Act, 2017 w.e.f. 7th May 2018

LIST E: Ministry of Corporate Affairs already notified 43 Sections of the Companies Amendment Act, 2017 w.e.f. 9th February 2018

Read : Companies Amendment Act 2017-Summary of Rules Notified

Summary of Sections Notified under Companies Amendment Act, 2017

A tabular form of Sections notified by the MCA is present below:

[List A]

MCA has notified below mentioned 4 sections of the Companies Amendment Act, 2017 w.e.f. 15th August 2018

Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
1 Section 15 Section 73 Prohibition on Acceptance of Deposits from Public
2 Section 16 Section 74 Repayment of Deposits, etc., Accepted Before Commencement of this Act
3 Section 75 Section 366 Companies Capable of Being Registered
4 Section 76 Section 374 Obligations of Company Registration Under this Part
[LIST B]
MCA has notified below mentioned 1 section of the Companies Amendment Act, 2017 w.e.f. 5th July 2018
Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
1 Section 20 Section 82 Company to Report Satisfaction of Charge.

[LIST C]

Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
1 Section 22 Section 90 Register of Significant beneficial owners in a Company
2 Section 24 Section 93 Return to be filed with Registrar in case promoters’ stake change
3 Section 25 Section 94 Place of Keeping and inspection of registers, returns, etc.
4 Section 26 Section 96 Registers, etc. to be evidence
5 Section 71 Section 216 Investigation of ownership of Company

[LIST D]

MCA has notified the below-mentioned sections of the Companies Amendment Act, 2017 w.e.f. 7th May 2018

Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
1 Section 2 Clause (i) and (xiii) Section 2 Definitions
2 Section 8 Section 26 Matter to be stated in Prospectus
3 Section 13 Section 54 Issue of Sweat Equity Shares
4 Section 18 Section 77 Duty to Register charge
5 Section 19 Section 78 Application for registration of the charge
6 Section 21 Clause (i) (ii) Section 89 Declaration in respect of the beneficial interest in any share
7 Section 23 clause (iii) & (iv) Section 92 Annual Return
8 Section 30 Section 117 Resolution and agreements to be filed
9 Section 31 Section 121 Report on Annual General Meeting
10 Section 33 Section 129 Financial Statement
11 Section 39 Section 137 Copy of financial statement to be filed with Registrar
12 Section 40 Section 139 Appointment of Auditors
13 Section 46 Section 149 Company to have Board of Directors
14 Section 49 Section 157 Company to inform Director Identification Number to Registrar
15 Section 52 Section 164 Disqualifications for the appointment of Director
16 Section 54 Section 167 Vacation of office of Director
17 Section 55 Section 168 Resignation of Director
18 Section 56 Section 173 Meeting of Board
19 Section 57 Section 177 Audit Committee
20 Section 58 Section 178 Nomination and Remuneration Committee and Stakeholders Relationship Committee
21 Section 61 Section 185 Loan to Directors
22 Section 62 Section 186 Loan and investment by Company
23 Section 80 Clause (i) (ii) Section 403 Fee for Filing etc
24 Section 83 Section 410 Constitution of Appellate Tribunal
25 Section 86 Section 435 Establishment of Special Courts
26 Section 87 Section 438 Application of code of proceedings before the special court
27 Section 88 Section 439 Offenses to be non-cognizable
28 Section 89 Section 440 Transitional provisions

[LIST E]

MCA has already notified below mentioned 43 sections of the Companies Amendment Act, 2017 w.e.f. 9th February 2018.

Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
29 Section 2 Section 2 Definitions (except the definition of Associate & Subsidiary)
30 Section 3 New Section 3A Member severally liable in certain cases
31 Section 7 Section 21 Authentication of Documents, Proceeding & Contracts
32 Section 9 Section 35 Civil Liability for misstatements in prospectus
33 Section 11 Section 47 Voting Right
34 Section 12 Section 53 Prohibition on the issue of shares at a discount
35 Section 14 Section 62 Further issue of share capital
36 Section 17 Section 76A Penalty on Deposit
37 Section 27 Section 100 Calling of an extraordinary general meeting
38 Section 28 Section 101 Notice of Meeting
39 Section 29 Section 110 Postal Ballot
40 Section 32 Section 123 Declaration of Dividend
41 Section 34 Section 130 Reopening of accounts of courts or tribunals order
42 Section 35 Section 132 Constitution of National financial reporting authority
43 Section 38 Section 136 Right of members to copies of the audited financial statement
44 Section 41 Section 140 Removal, the resignation of the auditor
45 Section 42 Section 141 Eligibility, qualifications, and disqualification of auditors
46 Section 43 Section 143 Power and duties of auditors and auditing standards
47 Section 44 Section 147 Punishment for contravention
48 Section 45 Section 148 Central Govt. to specify audit of items of cost in respect of certain companies
49 Section 47 Section 152 Appointment of Directors
50 Section 48 Section 153 Application of allotment of DIN
51 Section 50 Section 160 Right of persons other than retiring directors to stand for directorship
52 Section 51 Section 161 appointment of an additional director, alternate director, and nominee director
53 Section 53 Section 165 Number of directorships
54 Section 59 Section 180 Restrictions of the power of the board
55 Section 60 Section 184 Disclosure of interest by Director
56 Section 63 Section 188 Related party transaction
57 Section 65 Section 195 Prohibition on insider trading of securities
58 Section 64 Section 194 Prohibition on forwarding dealings in securities of company by the director or key managerial personnel
59 Section 72 Section 223 Inspector’s Report
60 Section 73 Section 236 Purchase of minority shareholding
61 Section 74 Section 247 valuation by a registered valuer
62 Section 77 Section 379 Application of Act to foreign companies
63 Section 78 Section 384 Debentures, annual return, registered of charge, books of account
64 Section 79 Section 391 Application of section 34 to 36 and chapter XX
65 Section 82 Section 409 Qualification of the president and member of the tribunal
66 Section 84 Section 411 Qualification of chairperson and member of the appellate tribunal
67 Section 85 Section 412 Selection of Members of Tribunal and appellate tribunal
68 Section 90 Section 441 Compounding of certain offenses
69 Section 91 Section 446 Insertion of new section 446A and 446B
70 Section 92 Section 447 Punishment for fraud
71 Section 93 Section 458 Delegation by the central government of its powers and functions

[LIST F]

MCA has already notified below mentioned 2 sections of the Companies Amendment Act, 2017 w.e.f. 26th January 2018.

Sl. No. Section No. of Amendment Act 2017 Section No. of Companies Act, 2013 Particular of Section
72 Section 1 —  section 4
73  Section 4  Section 4  Memorandum

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