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Central Government appoints the 24th March 2021 as the date on which the provisions of section 23 and section 45 of the said Act came into force. Read the official notification below: MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th March, 2021 S.O. 1303(E).In exercise of t
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FAQ :
Sections 23 and 45 of the Companies (Amendment) Act, 2020, came into force on 24th March 2021.
Section 23 of the Companies (Amendment) Act, 2020, relates to the Unpaid Dividend Account, specifically referencing Section 124(7) of the Companies Act, 2013.
Section 45 of the Companies (Amendment) Act, 2020, relates to Valuation by Registered Valuers, referencing Section 247(3) of the Companies Act, 2013.
Penalties have been reduced for failure to comply with the provisions under Section 124 (Unpaid Dividend Account) and for contravention of Section 247 (Valuation by Registered Valuers) or its rules.
The Central Government appointed the date for these sections to come into force.
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