Amendment in Schedule I of the Companies Act, 2013

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Amendment in Schedule I of the Companies Act, 2013

The Ministry of Corporate Affairs vide its notification dated 10.04.2018 has made the following alteration to the Schedule I of the Companies Act, 2013

1. in Table F, in paragraph II, in sub-paragraph (2), for item (ii), the following item shall be substituted, namely:-

"Every certificate shall specify the shares to which it relates and the amount paid-up thereon and shall be signed by two directors or by a director and the company secretary, wherever the company has appointed a company secretary:

Provided that in case the company has a common seal it shall be affixed in the presence of the persons required to sign the certificate.

Explanation.- For the purposes of this item, it is hereby clarified that in case of an One Person Company, it shall be sufficient if the certificate is signed by a director and the company secretary, wherever the company has appointed a company secretary, or any other person authorised by the Board for the purpose." 

2. In Table F, in paragraph II, in sub-paragraph (79), after item (ii), the following explanation shall be inserted, namely:-

"Explanation.- : For the purposes of this sub-paragraph it is hereby clarified that on and from the commencement of the Companies (Amendment) Act, 2015 (21 of 2015), i.e. with effect from the 29th May, 2015, company may not be required to have the seal by virtue of registration under the Act and if a company does not have the seal, the provisions of this sub-paragraph shall not be applicable."

Click here to view the MCA Notification dated 10.04.2018