The Companies Incorporation Rules 2014-declaration instead affidavit from subscribers & first directors

The Companies Incorporation Rules 2014. declaration instead affidavit from subscribers & first directors. For the purpose of One Person Company, residence period to be reckoned from financial year.

MINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the 27th July, 2018

G.S.R. 708(E).—In exercise of the powers conferred by section 3, sub-section (1) of section 7 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Incorporation) Rules, 2014, namely: –

1. (1) These rules may be called the Companies (Incorporation) Third Amendment Rules, 2018.
(2) They shall come into force on the date of their publication in the official Gazette.

2. In the Companies (Incorporation) Rules, 2014._

(a) in rule 3, for Explanation to sub-rule (1), the following shall be substituted, namely:-

“Explanation I. – For the purposes of this rule, the term “resident in India” means a person who has stayed in India for a period of not less than one hundred and eighty two days during the immediately preceding financial year.

Explanation II.– For the purposes of this rule, 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”;

(b) for rule 15, the following shall be substituted, namely:-

“15. Declaration from Subscribers and First Directors.- For the purposes of clause (c) of sub-section (1) of section 7, 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.” ;

(c) in Form No. INC-9, for the word ‘Affidavit’, the word ‘Declaration’ shall be substituted;

(d) in Form No. INC-32, (SPICe), in the List of Attachments, in item number 3, for the words and brackets “Affidavit and declaration by first subscriber(s) and director(s)” the words and brackets “Declaration by first subscriber(s) and director(s)” shall be substituted.

[F. No. 1/13/2013-CL-V, part-I, Vol.II]
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 number G.S.R. 250(E), dated the 31st March, 2014 and subsequently amended vide the following notifications:-