MCA amends Incorporation Rules

Ministry of Corporate Affairs has notified on 27th July,2018 Companies (Incorporation) Third Amendment Rules, 2018 to amend the Companies (Incorporation) Rules, 2014. By this amendment, the definition of resident in India for the purpose of one-person company is altered and changes has been made in certain Forms. This Amended Rule is effective from 27th July 2018. The changes brought by the amendment are tabulated below-

Rule Provisions before Amendment Provisions after amendment
Explanation I to Rule 3 “Resident in India” means a person who has stayed in India for a period of not less than 182 days immediately preceding one calendar year. “Resident in India” means a person who has stayed in India for a period of not less than 182 days immediately preceding financial year.

 

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.

Rule 15 Affidavit from subscribers and first directors: The affidavit 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 Declaration from Subscribers and First Directors: 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.
Form No. INC-9 Form No. INC-9: Affidavit Form No. INC-9: Declaration
Form No. INC-32 (SPICe) List of attachment: Affidavit and

declaration by first subscriber(s) and director(s)

List of attachment: Declaration by first subscriber(s) and director(s)

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