Executive Summary:
This notification from the Ministry of Corporate Affairs announces the Companies Incorporation Third Amendment Rules, 2018, amending the Companies Incorporation Rules, 2014. The rules define "resident in India" and address declarations from subscribers and first directors. These rules take effect on the date of their publication in the official Gazette, July 27, 2018.
Key Points / Main Content:
* **Effective Date:** The rules come into force on July 27, 2018.
* **Amendment to the Companies Incorporation Rules, 2014:**
* **Definition of "Resident in India":**
* A person who has stayed in India for at least 182 days during the immediately preceding financial year.
* For the financial year 2018-2019, any stay between January 1, 2018, and the notification date is also counted.
* **Declaration from Subscribers and First Directors (Rule 15):**
* The declaration shall be submitted by each subscriber to the memorandum and each first director named in the articles, using Form No. INC-9.
* In Form No. INC-9, the word "Affidavit" is replaced with "Declaration".
* **Form No. INC-32 (SPICe):**
* In the List of Attachments, item number 3, the words "Affidavit and declaration by first subscribers and directors" are replaced with "Declaration by first subscribers and directors".
Impact Analysis:
* **Subscribers to the Memorandum:**
* Impact: Required to submit a declaration in Form No. INC-9 instead of an affidavit.
* Action Required: Use the updated Form No. INC-9 with the "Declaration" instead of the "Affidavit".
* **First Directors:**
* Impact: Required to submit a declaration in Form No. INC-9 instead of an affidavit.
* Action Required: Use the updated Form No. INC-9 with the "Declaration" instead of the "Affidavit".
* **Companies:**
* Impact: Use the updated forms and revised definition of "resident in India" for incorporation processes.
* Action Required: Ensure compliance with the new rules and updated forms.
* **Ministry of Corporate Affairs:**
* Impact: Responsible for implementing and enforcing the amended rules.
* Action Required: Update relevant guidelines and systems to reflect the changes.
Key Entities Referenced
Companies Act, 2013: Refers to the Companies Act, 2013 (18 of 2013), which provides the legal framework for the incorporation, regulation, and winding up of companies in India.
Central Government: The executive branch of the Government of India responsible for making and implementing the rules mentioned in the notification.
Companies Incorporation Rules, 2014: The principal rules being amended by this notification.
Companies Incorporation Third Amendment Rules, 2018: The title of the amendment rules introduced by this notification.
New Delhi, Delhi: The location where the notification was issued.
Form No.INC9: A specific form mentioned in the notification related to the declaration from subscribers and first directors of a company.
Form No. INC32, SPICe: A specific form mentioned in the notification related to company incorporation, Simple Proforma for Incorporating Company Electronically.
Ministry of Corporate Affairs: The ministry responsible for administering the Companies Act, 2013 and issuing this notification.
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धारा 469 क(cid:30) उपधारा (1) और उपधारा (2) %ारा &द’ शि)य* का &योग करते /ए कंपनी (िनगमन) िनयम, 2014 म(cid:10) और संशोधन करने
के िलए िन1िलिखत िनयम बनाती ह,ै अथा7त –
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2. कंपनी (िनगमन) िनयम, 2014 म(cid:10),-
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“11115555.... अअअअििििभभभभददददाााातततताााा(cid:16)(cid:16)(cid:16)(cid:16) औऔऔऔरररर (cid:18)(cid:18)(cid:18)(cid:18)थथथथमममम ििििननननददददशशेेशशेे कककक(cid:24)(cid:24)(cid:24)(cid:24) ककककाााा घघघघोोोोषषषषणणणणाााा----पपपप(cid:28)(cid:28)(cid:28)(cid:28) – धारा 7 क(cid:30) उपधारा (1) के खंड (ग) के &योजन* के िलए घोषणा प= Qापन के
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4339 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II —SEC. 3(i)]
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मममम सससस##ंं##ंं ययययाााा अअअअििििधधधधससससचचूूचचूू ननननाााा सससस##ंं##ंं ययययाााा अअअअििििधधधधससससचचूूचचूू ननननाााा कककक%%%% ततततााााररररीीीीखखखख
1. सा.का.िन. 349(अ) 01-05-2015
2. सा.का.िन. 442(अ) 29-05-2015
3. सा.का.िन. 99(अ) 22-01-2016
4. सा.का.िन. 336(अ) 23-03-2016
5. सा.का.िन. 743(अ) 27-07-2016
6. सा.का.िन. 936(अ) 01-10-2016
7. सा.का.िन. 1184(अ) 29-12-2016
8. सा.का.िन. 70(अ) 25-01-2017
9. सा.का.िन. 955(अ) 27.7.2017
10. सा.का.िन. 49(अ) 20.1.2018
11. सा.का.िन. 284(अ) 23.3.2018
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 27th July, 2018
G.S.R. 708(E).—In exercise of the powers conferred by section 3, sub-section (1) of section 7 and 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 (Incorporation) Rules, 2014, namely: -
1. (1) These rules may be called the Companies (Incorporation) Third Amendment Rules, 2018.
(2) They shall come into force on the date of their publication in the official Gazette.
2. In the Companies (Incorporation) Rules, 2014._
(a) in rule 3, for Explanation to sub-rule (1), the following shall be substituted, namely:-
“Explanation I. - For the purposes of this rule, the term "resident in India" means a person who has stayed in India for a
period of not less than one hundred and eighty two days during the immediately preceding financial year.
Explanation II.- For the purposes of this rule, while counting the number of days of stay of a director in India for the
financial year 2018-2019, any period of stay between 01.01.2018 till the date of notification of this rule shall also be
counted”;
(b) for rule 15, the following shall be substituted, namely:-
“15. Declaration from Subscribers and First Directors.- For the purposes of clause (c) of sub-section (1) of section 7, the
declaration shall be submitted by each of the subscribers to the memorandum and each of the first directors named in the
articles in Form No.INC-9.” ;¹Hkkx IIµ[k.M 3(i)º Hkkjr dk jkti=k % vlk/kj.k 3
(c) in Form No. INC-9, for the word ‘Affidavit’, the word ‘Declaration’ shall be substituted;
(d) in Form No. INC-32, (SPICe), in the List of Attachments, in item number 3, for the words and brackets “Affidavit and
declaration by first subscriber(s) and director(s)” the words and brackets “Declaration by first subscriber(s) and director(s)”
shall be substituted.
[F. No. 1/13/2013-CL-V, part-I, Vol.II]
K.V.R. MURTY, Jt. Secy.
Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide
number G.S.R. 250(E), dated the 31st March, 2014 and subsequently amended vide the following notifications:-
Serial Number Notification Number Notification Date
1. G.S.R. 349 (E) 01-05-2015
2. G.S.R. 442 (E) 29-05-2015
3. G.S.R. 99 (E) 22-01-2016
4. G.S.R.336(E) 23-03-2016
5. G.S.R.743(E) 27-07-2016
6. G.S.R.936(E) 01-10-2016
7. G.S.R.1184 (E) 29-12-2016
8. G.S.R. 70 (E) 25-01-2017
9. G.S.R. 955 (E) 27-07-2017
10. G.S.R. 49 (E) 20-01-2018
11. G.S.R.284 (E) 23-03-2018
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