Issue of securities in demat form not apply to Nidhi, Govt Co. or wholly owned subsidiary 

Issue of securities in dematerialised form not to apply to Nidhi Government company or wholly owned subsidiary. 

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 22nd January, 2019

G.S.R. 43(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, 2019.

(2) They shall come into force on the date of their notification in the Official Gazette.

2. In the Companies (Prospectus and Allotment of Securities) Rules, 2014, in rule 9A, after sub-rule (10), the following shall be inserted, namely:—

“(11) This rule shall not apply to an unlisted public company which is:—

(a) a Nidhi;

(b) a Government company or

(c) a wholly owned subsidiary.”.

[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; and
(4) Vide notification number G.S.R. 853 (E) dated 10th September, 2018.