the Companies ( Prospectus and Allotment of Securities ) Amendment Rules 2020

The Companies ( Prospectus and Allotment of Securities ) Amendment Rules 2020

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 16th October, 2020

G.S.R.642(E).—In exercise of the powers conferred by section 26, sub-section (1) of section 27, section 28, section 29, sub-section (2) of section 31, sub-sections (3) and (4) of section 39, sub-section (6) of section 40 and section 42 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Prospectus and Allotment of Securities) Rules, 2014, namely:-

1. Short title and commencement.‐ (1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2020.

(2) They shall come into force from the date of their publication in the Gazette.

2. In the Companies (Prospectus and Allotment of Securities) Rules, 2014, in rule 14, in sub-rule (1), after third proviso, the following proviso shall be inserted, namely: –

“Provided also that in case of offer or invitation of any securities to qualified institutional buyers, it shall be sufficient if the company passes a previous special resolution only once in a year for all the allotments to such buyers during the year.”.

[F. No. 1/21/2013-CL-V-Part]

K. V. R. MURTY, Jt. Secy.

Note : The Principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide notification number G.S.R. 251(E), dated the 31st March, 2014 and were subsequently amended:- (1) Vide notification number G.S.R. 424(E), dated the 30th June, 2014; (2) Vide notification number G.S.R. 430 (E), dated the 7th May, 2018; (3) Vide notification number G.S.R. 752 (E), dated the 7th August, 2018; (4) Vide notification number G.S.R. 853 (E), dated the 10th September, 2018; (5) Vide notification number G.S.R. 43 (E), dated the 22nd January, 2019; (6) Vide notification number G.S.R. 130 (E), dated the 19th February, 2019; and (7) Vide notification number G.S.R. 376(E), dated the 22nd May, 2019

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