ICAI announces changes in the CA Final course Corporate Law paper

Topic in the Study material

Retained provisions

Excluded provisions of the respective chapters of the Study Material

(1)

(2)

(3)

Winding Up (Chapter 10)

Sections related to winding up by Tribunal (from sections 271-303); and

Sections applicable to every mode of winding up (from sections 324-336 and 344-347 and 352-358)

Provisions contained under section 337- 343 and 348 to 351

Producer Companies (Chapter 11)

-

Entire topic

Miscellaneous Provisions (Chapter 17)

• Sections 248- 252,394- 395, 406

• Provisions covered under the headings 'Miscellaneous Provisions' – 447, 450, & 455

Sections 366 to 378, 396 to 404, 405, 448, 449, 451-454, 456-470

Compounding of offences, Adjudication & Special Courts (Chapter 16)

Adjudication and special courts [i.e., Sections 435- 440, 442 – 446A]

Compounding of offences’ covered under section 441

National Company Law Tribunal and Appellate Tribunal

(Chapter 15)

Sections 407, 420-434

Provisions covered under section 408 – 419

Insolvency & Bankruptcy Code, 2016

(Chapter 19)

The Corporate and Insolvency resolution process i.e. upto section 59

Remaining provisions i.e. from section 60 onwards

Section B: Allied Laws (30 Marks)

SEBI Act,

1992, SEBI (ICDR) Regulations, 2009 (Chapter 20)

SEBI Act, 1992

SEBI (ICDR) Regulations

The Foreign Exchange Management Act, 1999 (Chapter 22)

The FEMA, 1999

along with the following Rules/Regulations -

• Fem (Permissible Capital Account Transactions) Regulations, 2000

• Fem (Current Account Transactions) Rules, 2000

• FEM (Export of Goods &

Services) Regulations, 2015

• Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations, 2000

• Foreign Exchange Management (Acquisition and Transfer of Immovable Property outside India) Regulations, 2015

• Foreign Exchange Management (Realisation, repatriation and surrender of foreign exchange) Regulations, 2000

• Foreign Exchange Management (Possession and retention of foreign currency) Regulations, 2015

The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Chapter 24)

• Relevant definitions covered in the Study Material

• management of asset by the bank and the financial institutions

[i.e. Sections 1- 19 of the SARFAESI Act]

Section 20 and onwards

Paper

Inclusion

Paper 4: Corporate and Allied Laws

Legislation

Topics added

The Foreign Exchange Management Act, 1999

• Overseas Direct Investment

• Import of Goods and Services

• External Commercial Borrowing Policy