law amendment

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karan (Querist)

31 January 2017 can anybody tell me about the new amendment applicable for CA Final law paper to be held in May 2017 .... there is lot of ambiguity about this in my mind .... if anyone can help me with this ... I will be very thankful to that person ....

Sathish M

Sathish M (Expert)

06 February 2017 Paper 4 : Corporate and Allied Laws

Applicability of the following Amendments/Circulars/Notifications:

(I) The Companies Act, 2013 The relevant sections of the Companies Act, 2013, along with significant Rules/ Notifications/ Circulars/ Clarification/ Orders issued by the Ministry of Corporate Affairs upto 31st October 2016.

For updates, see https://www.mca.gov.in/

(II) SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009 Vide Notification No. SEBI/LAD-NRO/GN/2016-17/003 dated 25th May, 2016, SEBI hereby further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 through
the enforcement of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations,2016 from the date of their publication in the Official Gazette.

Amendments have been made in relevant Regulations 2, 4,73 & 84 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and these shall be applicable to issuers filing offer documents with the Registrar of companies on or after the date of commencement of these regulations.

For amendment, refer the following Link
https://www.sebi.gov.in/cms/sebi_data/attachdocs/1464245320010.pdf

(III) The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 Ministry of Law and Justice on 16th August, 2016 has published for general information, the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016.

It is an Act further to amend four laws: (i) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI), (ii) Recovery of Debts due to Banks and Financial Institutions Act, 1993 (RDDBFI), (iii) Indian Stamp Act, 1899 and (iv) Depositories Act, 1996, and for matters connected therewith or incidental thereto.

Chapter II, of this amendment Act deals with the amendments to the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, whereby, it is an act to regulate securitisation and reconstruction of financial assets and enforcement of security interest and to provide for a central database of security interests created on property rights, and for matters connected therewith or incidental thereto.

For amendment, refer the following Link https://financialservices.gov.in/Banking/LAWS.pdf

Non-Applicability of the following Amendments/Circulars/Notifications / chapters of the Study material:

Chapter 9 of the study material (January 2016 edition) covering provisions relating to Revival and Rehabilitation of Sick-Industrial Companies.

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