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Date: 27-Oct-2023 Category: Extra Ordinary State: Union Government Country: India

Companies second amendment rules 2023

Issued by Ministry of Corporate Affairs · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The notification introduces the Companies (Management and Administration) Second Amendment Rules, 2023, amending the Companies (Management and Administration) Rules, 2014.
  • Every company is now required to designate a person responsible for providing information and cooperation to the Registrar or any authorized officer regarding beneficial interest in the company's shares.
  • The rules specify who can be designated for this purpose and what happens if no one is formally designated.
  • Companies must disclose details of the designated person in their annual return and notify the Registrar of any changes to the designated person.

Key Changes

  • Insertion of new sub-rules (4) to (8) in Rule 9 of the Companies (Management and Administration) Rules, 2014.
  • Rule 9(4) mandates every company to designate a person responsible for providing information and cooperation regarding beneficial interest in shares to the Registrar or any authorized officer.
  • Rule 9(5) specifies that the designated person can be a Company Secretary (if one is required to be appointed), a Key Managerial Personnel (other than the Company Secretary), or every Director (if there is no Company Secretary or KMP).
  • Rule 9(6) outlines the default designated person if no formal designation is made: Company Secretary (if required), Managing Director or Manager (if no Company Secretary), or every Director (if no Company Secretary, MD, or Manager).
  • Rule 9(7) requires companies to include details of the designated person in their annual return.
  • Rule 9(8) mandates companies to inform the Registrar of any changes to the designated person via e-form GNL-2 as specified under the Companies (Registration Offices and Fees) Rules, 2014.

Impact Analysis

Impact on Companies

  • Small companies without a Company Secretary or KMP may need to assign this responsibility to all directors, increasing their compliance burden.

Impact on Designated Persons

  • The designated person must be knowledgeable about the company's shareholding structure and any related regulations.

Impact on Registrar of Companies

  • The Registrar will need to process and manage the additional information received from companies.

Suggested Action Items

  • Legal and compliance teams should update internal policies and procedures to reflect the new requirements.

Key Entities Referenced

Companies Act, 2013: The principal legislation governing companies in India. Section 469 provides the Central Government with the power to make rules for carrying out the purposes of the Act. Companies (Management and Administration) Rules, 2014: Rules framed under the Companies Act, 2013, which govern the management and administration of companies. These rules are being amended by this notification. Registrar of Companies (ROC): The government authority responsible for registering companies and ensuring compliance with the Companies Act, 2013. e-form GNL-2: An electronic form specified under the Companies (Registration Offices and Fees) Rules, 2014, used for reporting changes to the Registrar, including changes in the designated person. Companies (Registration Offices and Fees) Rules, 2014: Rules pertaining to the registration of companies and the associated fees.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-27102023-249763 CG-DxLx-xEG-I2D7H1x0x2x0 23-249763 xxxGIDExxx ऄसाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 623] नई ददल्ली, िुक्रवार, ऄक्त बू र 27, 2023/कार्मतक 5, 1945 No. 623] NEW DELHI, FRIDAY, OCTOBER 27, 2023/KARTIKA 5, 1945 कारपोरेट काय यमत्रं ालय ऄजधसचू ना नई ददल्ली, 27 ऄक् तूबर, 2023 सा.का.जन. 801(ऄ).—केंद्रीय सरकार, कंपनी ऄजधजनयम, 2013 (2013 का 18) की धारा 469 की उप-धारा (1) और (2) द्वारा प्रदत्त िजियों का प्रयोग करते हुए, कंपनी (प्रबंधन और प्रिासन) जनयम, 2014 का और संिोधन करन े के जलए जनम्नजलजखत जनयम बनाती ह,ै ऄथायत ् :- (1) संजिप्त नाम और प्रारंभ.- इन जनयमों का संजिप्त नाम कंपनी (प्रबंधन और प्रिासन) दसू रा संिोधन जनयम, 2023 ह।ै (2) ये रािपत्र म ें इसके प्रकािन की तारीख को प्रवृत्त होंगे। 2. कंपनी (प्रबंधन और प्रिासन) जनयम, 2014 में, जनयम 9 म,ें उप-जनयम 3, के पश्चात,् जनम्नजलजखत उप-जनयम ऄंतःस्ट्थाजपत दकया िाएगा, ऄथायत:् - “(4) प्रत्येक कंपनी एक ऐसे व्यजि को पदाजभजहत करेगी िो कंपनी के िेयरों म ें फायदों के संबंध म ें रजिस्ट्रार या दकसी ऄन्य ऄजधकृत ऄजधकारी को िानकारी प्रदान करने के जलए, और सहयोग प्रदान करने के जलए उत्तरदायी होगा। (5) उपजनयम (4) के प्रयोिन के जलए, कंपनी जनम्नजलजखत को पदाजभजहत कर सकती ह:ै- (i) एक कंपनी सजचव, यदद ऄजधजनयम और उसके ऄधीन बनाय े गए जनयमों के ऄधीन ऐसे कंपनी सजचव की जनयुजि ऄपेजित ह;ै या (ii) कंपनी सजचव के जसवाय एक प्रमुख प्रबंधकीय कार्ममक; या (iii) प्रत्येक जनदेिक, यदद कोई कंपनी सजचव या प्रमुख प्रबंधकीय कार्ममक नहीं ह।ै 6847 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] (6) िब तक उप-जनयम (4) के ऄधीन जनर्ददष्ट दकसी व्यजि को पदाजभजहत नहीं दकया िाता ह,ै तब तक जनम्नजलजखत व्यजियों को पदाजभजहत व्यजि समझा िाएगा; (i) कंपनी सजचव, यदद ऄजधजनयम और उसके ऄधीन बनाए गए जनयमों के ऄधीन ऐसे कंपनी सजचव की जनयुजि की ऄपेजित ह;ै या (ii) प्रत्येक प्रबंध जनदेिक या प्रबंधक, यदद दकसी कंपनी सजचव की जनयुजि नहीं की गई ह;ै या (iii) प्रत्येक जनदेिक, यदद कोई कंपनी सजचव या प्रबंध जनदेिक या प्रबंधक नहीं ह।ै (7) प्रत्येक कंपनी वार्मिक जववरणी में पदाजभजहत व्यजि के जववरण को सूजचत करेगी। (8) यदद कंपनी दकसी भी समय पदाजभजहत व्यजि को बदलती ह,ै तो वह कंपनी (रजिस्ट्रीकरण कायायलय और िुल्क) जनयम, 2014 के ऄधीन जनर्ददष्ट ई-प्ररूप िीएनएल -2 म ें रजिस्ट्रार को इसकी सूचना देगी। [फा. स.ं 01/34/2013 सीएल-V (भाग-III)] इन्द्र दीप ससह धारीवाल, संयुि सजचव टटप्पण: मूल ऄजधसूचना भारत के रािपत्र, ऄसाधारण, भाग 2, खंड 3, उप-खंड (i) संख्या सा.का.जन. 260(ऄ) तारीख 31 माच,य 2014 द्वारा प्रकाजित की गई थी और संख्या सा.का.जन. 44(ऄ) तारीख 21 िनवरी, 2023 के द्वारा ऄंजतम बार संिोजधत की गई। MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th October, 2023 G.S.R. 801(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 Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014, namely:- 1. Short title and commencement.-(1) These rules may be called the Companies (Management and Administration) Second Amendment Rules, 2023. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Management and Administration) Rules, 2014, in rule 9, after sub-rule (3), the following sub- rules shall be inserted, namely:- “(4) Every company shall designate a person who shall be responsible for furnishing, and extending co-operation for providing, information to the Registrar or any other authorised officer with respect to beneficial interest in shares of the company. (5) For the purpose of sub-rule(4), the company may designate- (i) a company secretary, if there is a requirement of appointment of such company secretary under the Act and the rules made thereunder; or (ii) a key managerial personnel, other than the company secretary; or (iii) every director, if there is no company secretary or key managerial personnel. (6) Until a person is designated as referred under sub-rule (4), the following persons shall be deemed to have been designated person; (i) company secretary, if there is a requirement of appointment of such company secretary under the Act and the rules made thereunder; or (ii) every Managing Director or Manager, in case a company secretary has not been appointed; or[भाग II—खण् ड 3(i)] भारत का रािपत्र : ऄसाधारण 3 (iii) every director, if there is no company secretary or a Managing Director or Manager. (7) Every company shall inform the details of the designated person in Annual return. (8) If the company changes the designated person at any time, it shall intimate the same to the Registrar in e-form GNL-2 specified under the Companies (Registration Offices and Fees) Rules, 2014. [F. No. 01/34/2013 CL-V (Pt-III)] INDER DEEP SINGH DHARIWAL, Jt. Secy. Note: The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 260(E) dated 31st March, 2014 and last amended, vide number G.S.R. 44(E) dated 21st January, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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