MCA relaxes time for producer companies for dematerialisation of securities

MCA relaxes time for producer companies for dematerialisation of securities. The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024

MCA has notified the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024 giving relaxation of time to producer companies in dematerialisation of securities

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 20th September, 2024

G.S.R. 583(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. (1) These rules may be called the Companies (Prospectus and Allotment of Securities) Amendment Rules, 2024.

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

2. In the Companies (Prospectus and Allotment of Securities) Rules, 2014, in sub-rule (2) of rule 9B, the following proviso shall be inserted, namely: ―

“Provided that a producer company covered under this sub-rule shall, within a period of five years of closure of such financial year, comply with the provision of this sub-rule.”.

[F. NO. 1/21/2013-CL-V]

MANOJ PANDEY, Addl. Secy.

Note:—The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 251(E), dated the 31st March, 2014 and last amended vide notification G.S.R. 802(E), dated the 27th October, 2023

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