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Companies (Share Capital and Debentures) Third Amendment Rules, 2016

Companies Law - F. No. 01/04/2013 CL-V (part-II) - Dated:- 19-7-2016 - Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 19th July, 2016 G.S.R. 704 (E).-In exercise of the powers conferred by sub-sections (1) and (2) of sectio .....

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o force on the date of their publication in the Official Gazette. 2. In the Companies (Share Capital and Debentures) Rules, 2014, (herein after referred to as the principal rules), in rule 4, in sub-rule (1), after sub-clause (g), the following provi .....

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, in sub-rule (4), after the first proviso, the following proviso shall be inserted, namely:- "Provided further that a startup company, as defined in notification number GSR 180(E) dated 17th February, 2016 issued by the Department of Industrial .....

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pal 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 is .....

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ion or registration." 5. In the principal rules, in rule 13, in sub-rule (2),- (i) clause (c) shall be omitted. (ii) for clause (h), the following clause shall be substituted, namely:- " (h) where convertible securities are offered on a pre .....

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valuation report of the registered valuer given at the stage of such offer, or (ii) at the time, 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 va .....

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of offer of convertible security itself and make such disclosure under sub-clause (v) of clause (d) of sub-rule (2) of this rule.". 6. In the principal rules, in rule 15, after the words "or a company redeems any redeemable preference shar .....

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y:- "(b) Such an issue of debentures shall be secured by the creation of a charge on the properties or assets of the company or its subsidiaries or its holding company or its associates companies, having a value which is sufficient for the due r .....

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