Companies Share Capital and Debentures 2nd Amendment Rules 2015
Companies Share Capital and Debentures 2 Amendment Rules 2015. Ministry of Corporate Affairs issued new Companies Share Capital and Debentures 2 Amendment Rules 2015. we already provided The Companies (Incorporation) Amendment Rules, 2015. Read Complete News form Below.
Companies Share Capital and Debentures Second Amendment Rules 2015
G.S.R. _ (E). – In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013) the the central government hereby makes the following rules further to amend the Companies (Share Capital and Debentures) Rules, 2014, namely :-
1. (1) These rules may be called the Companies (Share Capital and Debentures) Second Amendment Rules, 2015.
(2) They shall come into force from the date of their publication in the Official Gazette,
2..In the-Companies (Share Capital and Debentures) Rules,2014, in rule 5, in sub-rule (3),-
(i) for the words “issued under the seal of the company”, the words “issued under the seal, if any, of the company”, shall be substituted
(ii) for clause (b), the following clause (b) shall be substituted, namely :-
“(b) the secretary or any person authorised by the Board for the purpose:
Provided that in case a company does not have a common seat, the share certificate shall be signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary:
Provided further that, if the composition of the Board permits of it, at least one of the aforesaid two directors shall be a person other than a managing director or a whole-time director:
Provided also that, in case of a One person Company, every share certificate shall be issued under the seal, if any, of the company, which shall be affixed in the presence of and signed by one director or a person authorised by the Board of Directors of the company for the purpose and the Company Secretary, or any other person authorised by the Board for the purpose, and in case the One person Company does not have a common seal, the share Certificate Shall be signed by the persons in the presence of whom the seal is required to be affixed in this proviso.”