Section 7 - Amendment of section 29. - Companies (Amendment) Act, 2019

Amendment of section 29. 7. In section 29 of the principal Act,- (i) in sub-section (1), in clause (b), the word public shall be omitted; (ii) after sub-section (1), the following sub-section shall be inserted, namely:- (1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 (22 of 1996.) and the regulations made thereunder. .