In rule 2, for clause (d), the following clause shall be substituted, namely:-“(d) “cost audit report” means the duly signed cost auditor’s report on the cost records examined and cost statements which are prepared as per these rules, including attachment, annexure, qualifications or observations attached with or included in such report”;
In rule 3, Table (A) and Table (B) were substituted;
In rule 4, in sub-rule (3), after clause (ii), following clause shall be inserted, namely:-“(iii) which is engaged in generation of electricity for captive consumption through Captive Generating Plant. For this purpose, the term “Captive Generating Plant” shall have the same meaning as assigned in rule 3 of the Electricity Rules, 2005”;
In rule 6, in sub-rule (1), the following proviso shall be inserted, namely: —“Provided that before such appointment is made, the written consent of the cost auditor to such appointment, and a certificate from him or it, as provided in sub-rule (1A), shall be obtained”;
In rule 4, in sub-rule (1), after sub-clause (g), the following proviso shall be inserted, namely.-“Provided that a company may issue equity shares with differential rights upon expiry of five years from the end of the financial year in which such default was made good.”
In rule 8, 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 Policy and Promotion, Ministry of Commerce and Industry, Government of India, may issue sweat equity shares not exceeding fifty per cent of its paid up capital upto five years from the date of its incorporation or registration.”.
MCA has further inserted a proviso in rule 12, omitted clause (c) in rule 13, substituted clause (h) in rule 13, etc.
Companies (Accounts) Amendment Rules, 2016 dated 27th July, 2016.In exercise of the powers conferred by sub-sections (1) and (3) of section 128, sub section (3) of section 129, section 133, section 134 and section 138 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government has amended the Companies (Accounts) Rules, 2014 which shall be called the Companies (Accounts) Amendment Rules, 2016. MCA vide this amendment has substituted form AOC-1 and Form AOC-4. It has further substituted a proviso in rule 6 and substituted certain words in rule 8 & rule 13.
Companies (Incorporation) Third Amendment Rules, 2016 dated 27th July, 2016.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 has amended the Companies (Incorporation) Rules, 2014 which shall be called the Companies (Incorporation) Third Amendment Rules, 2016.
MCA Notification dated 19th July, 2016 [Reference No. S.O. 2463(E)].In exercise of the powers conferred by sub- section (1) of section 381 of the Companies Act, 2013 (18 of 2013) and in supersession of the notification number G.S.R 59, dated 06.01.1959 issued under sub-section (1) of section 594 of the Companies Act, 1956 (1 of 1956), in so far as it relates to the foreign company which is an airlines company, the Central Government hereby directs that the requirement of clause (a) of sub-section (1) of section 381 of the Act shall apply to a foreign company which is an airlines company having a share capital.
