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TMI BlogCompanies (Share Capital and Debentures) Third Amendment Rules, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... (18 of 2013), 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) Third Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Share Capital and Deben ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ital upto five years from the date of its incorporation or registration." 4. In the principal rules, in rule 12, in sub-rule(i), in clause (c), after sub-clause (ii), the following proviso shall be inserted, namely.- "Provided that in case of a startup company, as defined in notification number GSR 180(E) dated 17th February, 2016 issued by the Department of Industrial Policy and Prom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ime, which shall not be earlier than thirty days to the date when the holder of convertible security becomes entitled to apply for shares, on the basis of valuation report of the registered valuer given not earlier than sixty days of the date when the holder of convertible security becomes entitled to apply for shares: Provided that the company shall take a decision on sub-clauses (i) or (ii) at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and interest thereon." (b) in clause (d), for sub-clause (i), the following sub-clause shall be substituted, namely.- "(i) any specific movable property of the company or its holding company or subsidiaries or associate companies or otherwise." (B) in sub-rule (7),- (a) in clause (b), in sub-clause (ii) and (iii) for the words "of the value of debentures" wherever they ..... X X X X Extracts X X X X X X X X Extracts X X X X
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