The above document has been prepared containing notified 98 sections of the companies act, 20. The 20 act is divided into 29 chapters containing 470 sections as against 658 sections in the companies act, 1956 and has 7 schedules. Section 96 of land acquisition act 20 exemption from income tax, stamp duty and fees no income tax or stamp duty shall be levied on any award or agreement made under this act. Punishment for default in complying with provisions of sections 96 to 98 effective from 1st june, 2016 if any default is made in holding a meeting of the company in accordance with section 96 or section 97 or section 98 or in complying with any directions of the tribunal, the company and every officer of the company who is in default shall be punishable with fine which may. The companies act, 2017 national assembly of pakistan. Section 185 of the companies act, 20 dispatch of notice by listed companies for rights issue upto 31. Along with downloading list of sections as per companies act 20 scroll down and download check list for annual compliance calendar under companies act. Sabha on 8th august 20 and is all set to replace the 57 year old companies act, 1956. Chapter xxi part i companies authorised to register under this act. An act to consolidate and amend the law relating to companies. In the companies act 20, various new provisions have been included which are not provided for in companies act, 1956 for better governance of the companies. Holding 100% control over a company section 89 of the. The measure is fortified by prescribing that if a shareholder is the related party, that shareholder would have to abstain from voting on the resolution.
Implementation issues with respect to depreciation section 123 and schedule ii. Sep 20, 20 the ministry of corporate affairs has notified 98 sections of the new companies act, 20. Section 220 of the 20 act defines the term company to mean a company. The companies act 20 pdf book is free and available here to download. Also given links to download companies act 20 book pdf in this web portal. Amendments affecting chapter 4 of principal act 50 58. The 20 act is divided into 29 chapters containing 470 sections as against. The companies act 20 contains 470 sections under 29 chapters with seven. Notwithstanding anything contained in subsections 1 and 2, but subject to the provisions of schedule v, if, in any financial year, a company has no profits or its profits are inadequate, the company shall not pay to its directors, including any managing. The companies act, 20 rules on the companies act, 20 this feature allows you to view the companies act, 20 sectionwise or chapterwise.
Supplementary provisions in relation to sections 72 and 73. The companies act, 20 has been notified in the official gazette on 30th august, 20 but the provisions of this act shall come into force on such dates as the central government may notify in the. Changes that have been made appear in the content and are referenced with annotations. Effect of removal of company from register 6 5 10 15 20 25 30 35 40 45. Part i interpretation interpretation 21in this act, a articles means the articles of association of a company, as originally framed or as altered by special resolution, and includes, so far as they apply to the company, the regulations made. Registrar in accordance with section 142 of this act respectively registrar. Companies act, 20 background companies act, 20 20 act has been assented by the president of india on 29 august 20 and published in official gazette on 30 august 20.
Companies act, 20 analysis of important provisions. Windingup of solvent companies and deregistering companies 79. The act has replaced the companies act, 1956 in a partial manner. Companies act 20 section 197 citation 62585 bare act. Protection of personal information act, 20 3 act no. Dissolution of companies and removal from register 83.
Table containing provisions of companies act, 20 as notified up to date and corresponding provisions. Table containing provisions of companies act, 20 as. The ca20 makes comprehensive provisions to govern all listed and unlisted companies in the country. You can view a specific section, or view all sections grouped by chapters.
The companies act, 20 passed by the parliament has received the assent of the president of india on 29th august, 20. Different perspectives of the companies act, 20 undertaken unless approved by the shareholders, the law has plugged a loophole. According to section 103 of companies act, 20, in case of a private. Words in bold type in square brackets indicate omissions from existing enactments. Punishment for default in complying with provisions of sections 96 to 98.
Omitted by the companies amendment act,2017 amendment effective from 7th may 2018. Substituted by the companies amendment act,2017 amendment effective from 7th may 2018. All 438 sections of companies act are notified by the ministry of corporate affairs mca and majority of the rules to the various chapters sections of the companies act, 20. Companies act 2006, section 98 is up to date with all changes known to be in force on or before 18 may 2020. There are changes that may be brought into force at a future date. Section 99 of companies act, 20 corporate law reporter. Be it enacted by parliament in the sixtyfourth year of the republic of india as follows. This act may be cited as the international business companies. The purpose of developing this comparative presentation of index is to facilitate the users in navigation identification of each section of the companies ordinance, 1984 which have either been restated, merged in, bifurcatedseparated in the companies act, 2017. Highlights of 98 sections of companies act, 20 notified on.
Automatic depreciation chart as per companies act 20 5. The companies act 20 is an act of the parliament of india on indian company law which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company. Dec 11, 20 the above document has been prepared containing notified 98 sections of the companies act, 20. Section 96, 97 exemption from income tax, stamp duty and. The ministry of corporate affairs has notified 98 sections of the new companies act, 20. These sections have come into effect from 12th september 20. Scroll down and download check list for annual compliance calendar under companies act. Highlights of 98 sections of companies act, 20 notified. Notification of sections and rules under companies act, 20. The new companies act hereinafter referred as ca20 is replacing old companies act, 1956 hereinafter referred as ca1956.
Section 161 appointment of additional director, alternate director and nominee director. Accordingly, the annual return in terms of section 92 of the companies act, 20 in form mgt. Section 98 of companies act, 20 power of tribunal to call. For the information of the readers, there are no such sections that permits the same in the companies act, 20. Competition act, means the competition act, 1998 act no. Along with downloading list of sections as per companies act 20. Effective from 1st june, 2016 1 if for any reason it is impracticable to call a meeting of a company, other than an annual general meeting, in any manner in which meetings of the company may be called, or to hold or conduct the. In the companies act 20, various new provisions have been included which are not. Presidents assent on 29 th august 20 law to be operational in phases o 98 sections notified on 12 th september 20 corresponding sections of companies act, 1956 ceased to have effect from that date o no transitional provisions draft rules and corresponding forms issued. Companies act, 2017 and the related sections under the companies ordinance, 1984. Words underlined with a solid line indicate insertionsin existing enactments. To amend the companies act, 2008, so as to effect certain legaltechnical and.
In this article we have given all the reference books and book authors and topics and contents about the book the companies act 20. The companies act, 20 received the assent of the president on 29th august, 20 and was notified in the gazette of india on 30th august, 20. Chapter xviii removal of names of companies from the register of companies. Accordingly, this ebook is available in pdf as well as kindle format. Advantages of companies act 20 board of directors fraud. You can also search for keywords within the sections of the act. All 438 sections are notified by the ministry of corporate affairs mca and majority of the rules made to the various chapters sections of the companies act, 20. Mca notifies 98 sections of the companies act taxguru. Subsequent to coming into effect of these sections under the new act, the corresponding sections under the companies act, 1956 automatically stand repealed. Although notification of 98 sections of the companies act, 20 new act is welcome and this means that the mca is serious about implementing this new law as soon as possible, until the remaining sections are notified, one will need to read two sets of companies acts for structuring of transactions and day to day compliance purposes.
The application of section 90 of the companies act, 2008. The companies act 20 contains 470 sections under 29 chapters with seven schedules. Effective from 1st june, 2016 1 if for any reason it is impracticable to call a meeting of a company, other than an annual general meeting, in any manner in which meetings of the company may be called, or to hold or conduct the meeting of the company in the manner prescribed by this act or the articles of the company, the. The ministry of corporate affairs has notified 98 sections of the new. Part 11 incorporation of companies and matters incidental thereto chapter i the companys memorandum and articles memorandum of association 3. Section 99 of companies act, 20 punishment for default. Arrangement of sections sections part 1 general provisions, interpretation and amendments affecting chapter 1 of principal act l. Complete list of sections of companies act, 20 corporate. A new term of one person company is included in this act that will be a private company and with only 98 provisions of the act notified. Section 98 of companies act, 20 power of tribunal to. Companies amendment act 3 of 2011 act to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of. List sections of companies act 20 with memory chart made easy 3. Companies act, 20, gives freedom to the companies to do anything, which is legal and in the interest of stakeholders but with the approval of authority or by intimating authority in a manner as may be prescribed by the act.
List of sections as per companies act 20 companies act 20, rules, circulars, notifications as notified by the ministry of corporate affairs. The 20 act introduces a new type of entity to the existing list i. All 438 sections are notified by the ministry of corporate affairs mca and majority of the rules made to the various chapterssections of the companies act, 20. The companies act, 20 ministry of corporate affairs. This an act to consolidate and amend the law relating to companies. In companies act, 20, section 89 is the only section which gives a way to a personcompany to hold 100% control over a. In section 89 in subsection 7, for the words and figures under the first proviso to subsection 1 of section 403 the following word shall be substituted, namely. A total of another 184 sections came into force from 1 april 2014. Chapter xix revival and rehabilitation of sick companies. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Punishment for default in complying with provisions of sections 96 to 98 effective from 1st june, 2016 if any default is made in holding a meeting of the company in accordance with section 96 or section 97 or section 98 or in complying with any directions of the tribunal, the company and every.
Companies act 20 section 96 citation 62478 bare act. Companies act, 20 new rules of the game 5 companies act, 20 background companies act, 20 20 act has been assented by the president of india on 29 august 20 and published in official gazette on 30 august 20. Annual general meeting 1 every company other than a one person company shall in each year hold inaddition to any other meetings, a general meeting as its annual general meeting and shall. European legislation identifier pdf open data license. The ministry of corporate affairs has also notified 98 sections for implementation of the provisions of the companies act, 20 on 12th september, 20. Limited company may have directors with unlimited liability. Ministry of corporate affairs issues notification for commencement of 98 sections of the new act the companies act, 20 as passed by the.