Section 7 of the companies (amendment) act, 2019
This query is : Resolved
NAVEEN SINGH
(Querist)
05 August 2019
Sir, Does this include Pvt Companies as well?
This has reference to The Companies (Amendment) Act, 2019 promulgated on July 31, 2019.
Section 7 of The Companies (Amendment) Act, 2019 states as under:
7. In section 29 of the principal Act,—
(i) in sub-section (1), in clause (b), the word “public” shall be omitted;
(ii) after sub-section (1), the following sub-section shall be inserted, namely:—
“(1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder.”.
This has reference to The Companies (Amendment) Act, 2019 promulgated on July 31, 2019.
Section 7 of The Companies (Amendment) Act, 2019 states as under:
7. In section 29 of the principal Act,—
(i) in sub-section (1), in clause (b), the word “public” shall be omitted;
(ii) after sub-section (1), the following sub-section shall be inserted, namely:—
“(1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder.”.
06 August 2019
Yes, but to wait for notification as prescribed in (1A)
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