MCA Notifies various sections of Companies (Amendment) Act, 2017

MCA notified Section 21(iii), 22, 24, 25, 26 and 71 of the Companies (Amendment) Act, 2017 (“Amendment Act”) vide notifications dated June 13, 2018 and June 21, 2018. The notified provisions deal with subjects like meaning of beneficial interest in shares, register of significant beneficial owners in a company, place of keeping and inspection of registers, returns, etc., holding of annual general meeting by an unlisted company at any place in India and appointment of inspector(s) to investigate and report on matters relating to the company, and its membership for determining the true persons who have/ had beneficial interest in shares of a company or who are/ have been beneficial owners/ significant beneficial owners of a company.

The notification has also notified the omission of Section 93 containing compliance of filing returns with the registrar of companies in case of change in the stake of promoters.