Representation to Law Minister 2014 to Mr Ravi Shanker Prasad from CS Rajiv Bajaj & CS Gaurav Kumar Sharma
to Change The Rules Companies Act 2013 for the betterment of CS profession and For Company Secretary Members & Students.
Request to BJP from CS Rajiv Bajaj & CS Gaurav Kumar Sharma Rajiv Bajaj
This document is a request from the BJP to review and modify the recently announced rules under the Companies Act 2013. It contains 4 key requests:
1) Reduce the threshold for mandatory appointment of KMPs (like Company Secretary) from Rs. 10 Cr to Rs. 5 Cr paid up capital and include private companies.
2) Make secretarial audit mandatory for companies with at least Rs. 5 Cr paid up capital or those subject to internal audit.
3) Restore pre-certification of all e-forms filed with MCA to ensure proper compliance.
4) Make certification of annual returns mandatory for companies with Rs. 5 Cr or more paid up capital, including non-XBRL filings.
Shelley Vinson-Hard of 1112 Greenpark Dr, Plano, TX 75075 has been issued insurance adjuster license number 2107341 by the state of Texas, valid from July 15, 2016 through December 28, 2018, authorizing her to work as an adjuster for all lines of insurance. The license was generated by Sircon and includes Vinson-Hard's name, address, license number, issue and expiration dates, and designation as an adjuster authorized for all lines of insurance.
Myanmar is a highly unusual but promising prospect for businesses and investors—an underdeveloped economy with many advantages, in the heart of the world’s fastest-growing region. Home to 60 million inhabitants (46 million of working age), this Asian nation has abundant natural resources and is close to a market of half a billion people. And the country’s early stage of economic development gives it a “greenfield” advantage: an opportunity to build a “fit for purpose” economy to suit the modern world. Managed well, Myanmar could conceivably quadruple the size of its economy, from $45 billion in 2010 to more than $200 billion in 2030—creating upward of ten million nonagricultural jobs in the process. Myanmar’s moment: Unique opportunities, major challenges, a new report from the McKinsey Global Institute, discusses the challenges of meeting this ambitious goal and points to several areas that could help unlock high growth. To implement that agenda, Myanmar’s government is likely to require more capacity and may consider setting up a delivery unit dedicated to solving problems and driving the implementation of change. The nation’s businesses could consider their opportunities in different markets, quickly reach international quality standards, and explore foreign partnerships. International companies must move fast, be prepared to commit to Myanmar for the long term, and consider partnerships with local firms.
Myanmar, political economy of change- Myanmar in Asia-Pacific Region, and political research for democracy and human rights in Burma (Myanmar)
The document discusses clarifications on the formation and naming of Limited Liability Partnerships (LLPs) in India according to the LLP Act of 2008. Key points include:
- The name of an LLP must be approved by the relevant professional council if it includes words like "chartered accountant"; approval is also needed from the Institute of Chartered Accountants of India if the LLP name includes "Chartered Accountant".
- Examples of acceptable LLP names for chartered accountant firms include "X & Co. LLP" or "X & Associates LLP".
- Newly converted chartered accountant LLPs can only provide professional services allowed under the Chartered Accountants Act of
winding up under companies act 2013 after ibc-decoded-by cs rohit kumarCS Rohit Kumar
In this article, we will discuss how the provisions or route related to winding up of companies changed after the introduction of the Insolvency & Bankruptcy Code 2016 (the "IBC" or "Code") because before the enactment of IBC, winding up of companies was under purview of Companies Act 1956 2013.
The Mumbai ITAT and other tribunals have held that the tax rate applicable on the sale of depreciable assets held for more than 3 years is 20% rather than the usual 30% for short term capital gains (Section 50 deems it short term only for indexation purposes). This is because Section 50's deeming fiction does not extend to Section 112, which levies the long term capital gains tax of 20%. The Bombay High Court has also held that Section 50's provisions only apply for the computation of capital gains, and the asset retains its character as a long term capital gain for other purposes. However, applying a 20% rate to what is deemed a short term gain under Section 50 creates an anomaly
Corporate legal Services - Company IncorporationAccuprosys
Planning to register a business or get your company incorporated? We get the A to Z of company establishment and incorporation done for you. Incorporation is the process of transforming a business into a legal entity that is recognized under law.
This document discusses Pakistan's regulations around identifying Ultimate Beneficial Owners (UBOs) for anti-money laundering compliance. It outlines amendments made to laws requiring companies to identify individuals who ultimately own or control over 25% of shares, directly or indirectly. Forms were introduced for companies to submit UBO notices, replies, and status updates. Calculation methods are provided for determining indirect ownership percentages up the chain of ownership. Non-compliance can result in dividend payment delays and penalties. Critical issues analyzed include the need for better information sharing between authorities when indirect ownership is lengthy, unclear treatment of family ownership, and linking changes to indirect ownership reporting.
Request to BJP from CS Rajiv Bajaj & CS Gaurav Kumar Sharma Rajiv Bajaj
This document is a request from the BJP to review and modify the recently announced rules under the Companies Act 2013. It contains 4 key requests:
1) Reduce the threshold for mandatory appointment of KMPs (like Company Secretary) from Rs. 10 Cr to Rs. 5 Cr paid up capital and include private companies.
2) Make secretarial audit mandatory for companies with at least Rs. 5 Cr paid up capital or those subject to internal audit.
3) Restore pre-certification of all e-forms filed with MCA to ensure proper compliance.
4) Make certification of annual returns mandatory for companies with Rs. 5 Cr or more paid up capital, including non-XBRL filings.
Shelley Vinson-Hard of 1112 Greenpark Dr, Plano, TX 75075 has been issued insurance adjuster license number 2107341 by the state of Texas, valid from July 15, 2016 through December 28, 2018, authorizing her to work as an adjuster for all lines of insurance. The license was generated by Sircon and includes Vinson-Hard's name, address, license number, issue and expiration dates, and designation as an adjuster authorized for all lines of insurance.
Myanmar is a highly unusual but promising prospect for businesses and investors—an underdeveloped economy with many advantages, in the heart of the world’s fastest-growing region. Home to 60 million inhabitants (46 million of working age), this Asian nation has abundant natural resources and is close to a market of half a billion people. And the country’s early stage of economic development gives it a “greenfield” advantage: an opportunity to build a “fit for purpose” economy to suit the modern world. Managed well, Myanmar could conceivably quadruple the size of its economy, from $45 billion in 2010 to more than $200 billion in 2030—creating upward of ten million nonagricultural jobs in the process. Myanmar’s moment: Unique opportunities, major challenges, a new report from the McKinsey Global Institute, discusses the challenges of meeting this ambitious goal and points to several areas that could help unlock high growth. To implement that agenda, Myanmar’s government is likely to require more capacity and may consider setting up a delivery unit dedicated to solving problems and driving the implementation of change. The nation’s businesses could consider their opportunities in different markets, quickly reach international quality standards, and explore foreign partnerships. International companies must move fast, be prepared to commit to Myanmar for the long term, and consider partnerships with local firms.
Myanmar, political economy of change- Myanmar in Asia-Pacific Region, and political research for democracy and human rights in Burma (Myanmar)
The document discusses clarifications on the formation and naming of Limited Liability Partnerships (LLPs) in India according to the LLP Act of 2008. Key points include:
- The name of an LLP must be approved by the relevant professional council if it includes words like "chartered accountant"; approval is also needed from the Institute of Chartered Accountants of India if the LLP name includes "Chartered Accountant".
- Examples of acceptable LLP names for chartered accountant firms include "X & Co. LLP" or "X & Associates LLP".
- Newly converted chartered accountant LLPs can only provide professional services allowed under the Chartered Accountants Act of
winding up under companies act 2013 after ibc-decoded-by cs rohit kumarCS Rohit Kumar
In this article, we will discuss how the provisions or route related to winding up of companies changed after the introduction of the Insolvency & Bankruptcy Code 2016 (the "IBC" or "Code") because before the enactment of IBC, winding up of companies was under purview of Companies Act 1956 2013.
The Mumbai ITAT and other tribunals have held that the tax rate applicable on the sale of depreciable assets held for more than 3 years is 20% rather than the usual 30% for short term capital gains (Section 50 deems it short term only for indexation purposes). This is because Section 50's deeming fiction does not extend to Section 112, which levies the long term capital gains tax of 20%. The Bombay High Court has also held that Section 50's provisions only apply for the computation of capital gains, and the asset retains its character as a long term capital gain for other purposes. However, applying a 20% rate to what is deemed a short term gain under Section 50 creates an anomaly
Corporate legal Services - Company IncorporationAccuprosys
Planning to register a business or get your company incorporated? We get the A to Z of company establishment and incorporation done for you. Incorporation is the process of transforming a business into a legal entity that is recognized under law.
This document discusses Pakistan's regulations around identifying Ultimate Beneficial Owners (UBOs) for anti-money laundering compliance. It outlines amendments made to laws requiring companies to identify individuals who ultimately own or control over 25% of shares, directly or indirectly. Forms were introduced for companies to submit UBO notices, replies, and status updates. Calculation methods are provided for determining indirect ownership percentages up the chain of ownership. Non-compliance can result in dividend payment delays and penalties. Critical issues analyzed include the need for better information sharing between authorities when indirect ownership is lengthy, unclear treatment of family ownership, and linking changes to indirect ownership reporting.
The Limited Liability Partnership Act of 2008 established LLPs in India and outlines their key features, including being a separate legal entity, partners having limited liability, requirements for at least two partners and designated partners, governance of mutual partner rights and obligations, financial reporting, and provisions for conversion, investigation, winding up and application of company law as needed.
Lawyer in Vietnam Dr. Oliver Massmann – THE PROPOSED KEY AMENDMENTS TO THE IN...Dr. Oliver Massmann
The proposed amendments to Vietnam's Investment Law and Enterprise Law make several changes. The Investment Law clarifies definitions, removes some sectors from preferential treatment, simplifies registration for capital contributions, and lowers the approval level for some investment projects. It also removes reporting obligations and sectors from the conditional investment list. The Enterprise Law removes some owner details from registration certificates, eases qualifications for controllers of joint stock companies, and lowers qualification requirements for controllers of public companies.
1, Wealthy Kuwaiti people will not, can not, Or Do Not Desire to always to Go to Dubai international Boat Show ( DIBS) , They Invested there. and Some do not like Dubai and the Emeraties
The Management and Control of business corporationOdhing Lamadrid
The corporation charter is a document from the state that grants a company the right to be and act as a corporation. It establishes the rules that a corporation must follow. The charter gives corporations privileges like limited liability but they must observe the rules in the charter.
The document discusses a draft new commercial code in Turkey that aims to modernize and improve the country's commercial regulations and corporate governance standards. Some key points:
- The current commercial code dates back to 1956 and this new draft code would comprehensively update regulations to align with developments in business, technology, and EU legislation.
- It covers major areas like company law, securities law, and insurance law and introduces reforms like allowing single-shareholder companies, strengthening transparency requirements, adopting international auditing standards, and establishing new regulatory bodies.
- The changes are intended to create a simpler, more transparent and accountable business environment in Turkey and boost its competitiveness according to international indicators like the World Bank's Ease of
The bill amends the Government of National Capital Territory of Delhi Act, 1991. Key amendments include:
1) Inserting a new subsection that defines "Government" in any law made by the Legislative Assembly to mean the Lieutenant Governor.
2) Expanding the situations where the opinion of the Lieutenant Governor must be obtained before a bill passed by the Legislative Assembly can be introduced in the House.
3) Requiring the Legislative Assembly to not make any rules to conduct inquiries about administrative decisions or day-to-day administration, and any pre-existing rules contradicting this will be void.
4) Requiring the Lieutenant Governor's opinion be obtained before any executive action is taken pursuant to a Council of Ministers'
Partnership termination and liquidation in Ethiopia can occur in two ways: termination without court intervention if partners agree to dissolve or the purpose/term expires, or termination by court order for good cause such as serious partner disputes or duties not being fulfilled. The liquidation process involves converting assets to cash, settling all liabilities, and distributing any remaining cash to partners according to their agreement or equally if not specified. The commercial code of Ethiopia outlines the specific procedures and responsibilities of partners/liquidators during termination and liquidation of a partnership.
This document outlines fees for the accreditation of domain name registrars and the registration and renewal of domain names under the country code top-level domains (.om) and (.oman). It establishes application fees for the accreditation and renewal of registrars, as well as fees that accredited registrars must collect and remit to the regulatory authority for domain name registration and renewal. The fees are specified in Omani Riyals in tables A and B attached to the document. The decision was issued by the chairman of the Telecommunications Regulatory Authority and takes effect upon publication.
Representation to Mr Arun Jaitley from CS Rajiv Bajaj & CS Gaurav Kumar SharmaRajiv Bajaj
1. The document is a representation from Company Secretaries to the Minister of Corporate Affairs requesting a review of recently notified rules under the Companies Act 2013.
2. It requests reducing the capital limit for mandatory appointment of KMPs and extending the scope of secretarial audit and annual return certification.
3. It highlights how the new rules exclude many private and smaller public companies from compliance requirements and certifications that help ensure governance.
Joint Stock Companies and Limited Liability CompaniesMelis Buhan Öncel
This publication has been prepared in order to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey. For further information, please contact: Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com
Joint Stock Companies and Limited Liability CompaniesMelis Buhan Öncel
is publication is prepared to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey.
Accordingly, these are joint stock companies (“JSC”) and limited liability companies (“LC”).
In principle, the liability of shareholders for obligations of either a JSC or a LC is limited to their capital contribution, except for certain obligations of the shareholders of a LC towards the government. Moreover, with respect to the JSCs, members of the board of directors and authorized signatories may be held liable for public debts.
The provisions regarding JSCs and LCs are generally regulated under the Turkish Commercial Code (Law No: 6102) (published in the Official Gazette dated February 14, 2011 and numbered 27846) (the “TCC”) and Implementation Law of the Turkish Commercial Code (Law No. 6103), (published in the Official Gazette dated February 14, 2011 and numbered 27846) (“Implementation Law”).
This publication has been prepared in order to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey. For further information, please contact:
Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com.
This publication has been prepared in order to provide general information regarding two primary types of legal entities that may be incorporated in Turkey.
For further information, please contact:
Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com.
The document discusses key highlights and changes between the Companies Act of 1956 and the proposed Companies Bill of 2011 in India. Some of the major changes highlighted include allowing single member companies, reducing time limits for registering changes, provisions for corporate social responsibility, roles of independent directors and secretarial audits, and expanded coverage of offenses and penalties. The bill aims to update company law provisions for modern business needs while strengthening corporate governance.
MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION WITH DOCTRINE OF ULTRA...Anushka Singh
This document discusses the memorandum of association and articles of association of a company under Indian law. It provides details on the memorandum of association, including its purpose and required clauses. It also explains the doctrines of ultra vires and indoor management, which relate to a company acting beyond its powers as defined in the memorandum or internal management issues, respectively. The memorandum establishes the fundamental conditions and defines the company's powers, and any acts beyond these powers would be considered ultra vires and void.
The Companies Act 2014 consolidates and modernizes Irish company law. Key changes include introducing two new types of private companies (LTD and DAC), simplifying corporate governance rules, expanding the audit exemption, and establishing new procedures for company reorganizations. The Act also aims to make it easier for companies to do business in Ireland by reducing legal requirements and complexity. There will be an 18 month transition period for existing companies to convert to the new structures. Matheson, an Irish law firm, can advise on effectively transitioning to the new regime.
The Companies Act 2014 consolidates and modernizes Irish company law. It establishes two new types of private companies - a private company limited by shares (LTD) and a designated activity company (DAC). Existing private companies will have 18 months to convert to an LTD or DAC. The Act also recognizes other existing company types like public limited companies and unlimited companies. It aims to make company law provisions clearer and reduce the need for detailed company constitutions by including default governance rules.
The Companies Act 2014 has been signed into law and is expected to become operative in June 2015. Now that the terms of this new law are settled, we are advising clients to consider the Act’s impact on their future business and transactions.
The Act consolidates and modernises Irish company law and is expected to make it easier for companies to do business in and through Ireland. Matheson has been actively involved in the 14 year progression of this legislation which has been led primarily by the work of the Company Law Review Group (of which a Matheson partner is a member).
The principal changes under the Act relate to the private company limited by shares (the “private company”), which is the most common type of company in Ireland. Going forward, there will be two types of private company, which will replace the existing single form. These will be: (i) a private company limited by shares (“LTD”); and (ii) a designated activity company (“DAC”). These are explained in more detail below. Under the Act, all existing private companies will be required to convert to either an LTD or a DAC.
The document discusses proposed amendments to Kenya's Companies Bill 2015 regarding conditions for small companies being exempt from audit requirements. Key points debated include:
1) Thresholds for defining a small company should be aligned with VAT and turnover tax thresholds of 5 million KSH, not different standards.
2) Higher thresholds could negatively impact SMEs' access to accounting/tax compliance services and lower tax revenues.
3) Figures should not be directly translated from the UK without considering differences in economies.
4) Requiring company secretaries for all companies promotes good corporate governance.
The memorandum of association is the charter of a company that defines its scope and powers, while the articles of association contain the internal regulations for how the company will operate. The memorandum must be filed for any company to be registered and can only be altered in limited circumstances, whereas the articles provide rules for matters like director duties, shareholder rights, and meetings and can be more easily altered by special resolution. Together the memorandum and articles establish the legal foundation for a company.
The original articles of incorporation with amendments for the Delaware Riverkeeper nonprofit "charity". The organization is, according to its charter, "restoring the Delaware River Watershed's natural balance where it has been lost and ensuring its preservation where it still exists." Yet the organization is using its money and personnel to interfere in fracking in parts of Pennsylvania (and other states) that have nothing to do with the Delaware River Basin. They are in violation of their own charter and therefore (in our opinion) in violation of their tax-exempt status.
The Limited Liability Partnership Act of 2008 established LLPs in India and outlines their key features, including being a separate legal entity, partners having limited liability, requirements for at least two partners and designated partners, governance of mutual partner rights and obligations, financial reporting, and provisions for conversion, investigation, winding up and application of company law as needed.
Lawyer in Vietnam Dr. Oliver Massmann – THE PROPOSED KEY AMENDMENTS TO THE IN...Dr. Oliver Massmann
The proposed amendments to Vietnam's Investment Law and Enterprise Law make several changes. The Investment Law clarifies definitions, removes some sectors from preferential treatment, simplifies registration for capital contributions, and lowers the approval level for some investment projects. It also removes reporting obligations and sectors from the conditional investment list. The Enterprise Law removes some owner details from registration certificates, eases qualifications for controllers of joint stock companies, and lowers qualification requirements for controllers of public companies.
1, Wealthy Kuwaiti people will not, can not, Or Do Not Desire to always to Go to Dubai international Boat Show ( DIBS) , They Invested there. and Some do not like Dubai and the Emeraties
The Management and Control of business corporationOdhing Lamadrid
The corporation charter is a document from the state that grants a company the right to be and act as a corporation. It establishes the rules that a corporation must follow. The charter gives corporations privileges like limited liability but they must observe the rules in the charter.
The document discusses a draft new commercial code in Turkey that aims to modernize and improve the country's commercial regulations and corporate governance standards. Some key points:
- The current commercial code dates back to 1956 and this new draft code would comprehensively update regulations to align with developments in business, technology, and EU legislation.
- It covers major areas like company law, securities law, and insurance law and introduces reforms like allowing single-shareholder companies, strengthening transparency requirements, adopting international auditing standards, and establishing new regulatory bodies.
- The changes are intended to create a simpler, more transparent and accountable business environment in Turkey and boost its competitiveness according to international indicators like the World Bank's Ease of
The bill amends the Government of National Capital Territory of Delhi Act, 1991. Key amendments include:
1) Inserting a new subsection that defines "Government" in any law made by the Legislative Assembly to mean the Lieutenant Governor.
2) Expanding the situations where the opinion of the Lieutenant Governor must be obtained before a bill passed by the Legislative Assembly can be introduced in the House.
3) Requiring the Legislative Assembly to not make any rules to conduct inquiries about administrative decisions or day-to-day administration, and any pre-existing rules contradicting this will be void.
4) Requiring the Lieutenant Governor's opinion be obtained before any executive action is taken pursuant to a Council of Ministers'
Partnership termination and liquidation in Ethiopia can occur in two ways: termination without court intervention if partners agree to dissolve or the purpose/term expires, or termination by court order for good cause such as serious partner disputes or duties not being fulfilled. The liquidation process involves converting assets to cash, settling all liabilities, and distributing any remaining cash to partners according to their agreement or equally if not specified. The commercial code of Ethiopia outlines the specific procedures and responsibilities of partners/liquidators during termination and liquidation of a partnership.
This document outlines fees for the accreditation of domain name registrars and the registration and renewal of domain names under the country code top-level domains (.om) and (.oman). It establishes application fees for the accreditation and renewal of registrars, as well as fees that accredited registrars must collect and remit to the regulatory authority for domain name registration and renewal. The fees are specified in Omani Riyals in tables A and B attached to the document. The decision was issued by the chairman of the Telecommunications Regulatory Authority and takes effect upon publication.
Representation to Mr Arun Jaitley from CS Rajiv Bajaj & CS Gaurav Kumar SharmaRajiv Bajaj
1. The document is a representation from Company Secretaries to the Minister of Corporate Affairs requesting a review of recently notified rules under the Companies Act 2013.
2. It requests reducing the capital limit for mandatory appointment of KMPs and extending the scope of secretarial audit and annual return certification.
3. It highlights how the new rules exclude many private and smaller public companies from compliance requirements and certifications that help ensure governance.
Joint Stock Companies and Limited Liability CompaniesMelis Buhan Öncel
This publication has been prepared in order to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey. For further information, please contact: Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com
Joint Stock Companies and Limited Liability CompaniesMelis Buhan Öncel
is publication is prepared to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey.
Accordingly, these are joint stock companies (“JSC”) and limited liability companies (“LC”).
In principle, the liability of shareholders for obligations of either a JSC or a LC is limited to their capital contribution, except for certain obligations of the shareholders of a LC towards the government. Moreover, with respect to the JSCs, members of the board of directors and authorized signatories may be held liable for public debts.
The provisions regarding JSCs and LCs are generally regulated under the Turkish Commercial Code (Law No: 6102) (published in the Official Gazette dated February 14, 2011 and numbered 27846) (the “TCC”) and Implementation Law of the Turkish Commercial Code (Law No. 6103), (published in the Official Gazette dated February 14, 2011 and numbered 27846) (“Implementation Law”).
This publication has been prepared in order to provide general information regarding two primary types of limited liability entities that may be incorporated in Turkey. For further information, please contact:
Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com.
This publication has been prepared in order to provide general information regarding two primary types of legal entities that may be incorporated in Turkey.
For further information, please contact:
Mail: info@dablawfirm.com, Web Site: www.dablawfirm.com.
The document discusses key highlights and changes between the Companies Act of 1956 and the proposed Companies Bill of 2011 in India. Some of the major changes highlighted include allowing single member companies, reducing time limits for registering changes, provisions for corporate social responsibility, roles of independent directors and secretarial audits, and expanded coverage of offenses and penalties. The bill aims to update company law provisions for modern business needs while strengthening corporate governance.
MEMORANDUM OF ASSOCIATION AND ARTICLES OF ASSOCIATION WITH DOCTRINE OF ULTRA...Anushka Singh
This document discusses the memorandum of association and articles of association of a company under Indian law. It provides details on the memorandum of association, including its purpose and required clauses. It also explains the doctrines of ultra vires and indoor management, which relate to a company acting beyond its powers as defined in the memorandum or internal management issues, respectively. The memorandum establishes the fundamental conditions and defines the company's powers, and any acts beyond these powers would be considered ultra vires and void.
The Companies Act 2014 consolidates and modernizes Irish company law. Key changes include introducing two new types of private companies (LTD and DAC), simplifying corporate governance rules, expanding the audit exemption, and establishing new procedures for company reorganizations. The Act also aims to make it easier for companies to do business in Ireland by reducing legal requirements and complexity. There will be an 18 month transition period for existing companies to convert to the new structures. Matheson, an Irish law firm, can advise on effectively transitioning to the new regime.
The Companies Act 2014 consolidates and modernizes Irish company law. It establishes two new types of private companies - a private company limited by shares (LTD) and a designated activity company (DAC). Existing private companies will have 18 months to convert to an LTD or DAC. The Act also recognizes other existing company types like public limited companies and unlimited companies. It aims to make company law provisions clearer and reduce the need for detailed company constitutions by including default governance rules.
The Companies Act 2014 has been signed into law and is expected to become operative in June 2015. Now that the terms of this new law are settled, we are advising clients to consider the Act’s impact on their future business and transactions.
The Act consolidates and modernises Irish company law and is expected to make it easier for companies to do business in and through Ireland. Matheson has been actively involved in the 14 year progression of this legislation which has been led primarily by the work of the Company Law Review Group (of which a Matheson partner is a member).
The principal changes under the Act relate to the private company limited by shares (the “private company”), which is the most common type of company in Ireland. Going forward, there will be two types of private company, which will replace the existing single form. These will be: (i) a private company limited by shares (“LTD”); and (ii) a designated activity company (“DAC”). These are explained in more detail below. Under the Act, all existing private companies will be required to convert to either an LTD or a DAC.
The document discusses proposed amendments to Kenya's Companies Bill 2015 regarding conditions for small companies being exempt from audit requirements. Key points debated include:
1) Thresholds for defining a small company should be aligned with VAT and turnover tax thresholds of 5 million KSH, not different standards.
2) Higher thresholds could negatively impact SMEs' access to accounting/tax compliance services and lower tax revenues.
3) Figures should not be directly translated from the UK without considering differences in economies.
4) Requiring company secretaries for all companies promotes good corporate governance.
The memorandum of association is the charter of a company that defines its scope and powers, while the articles of association contain the internal regulations for how the company will operate. The memorandum must be filed for any company to be registered and can only be altered in limited circumstances, whereas the articles provide rules for matters like director duties, shareholder rights, and meetings and can be more easily altered by special resolution. Together the memorandum and articles establish the legal foundation for a company.
The original articles of incorporation with amendments for the Delaware Riverkeeper nonprofit "charity". The organization is, according to its charter, "restoring the Delaware River Watershed's natural balance where it has been lost and ensuring its preservation where it still exists." Yet the organization is using its money and personnel to interfere in fracking in parts of Pennsylvania (and other states) that have nothing to do with the Delaware River Basin. They are in violation of their own charter and therefore (in our opinion) in violation of their tax-exempt status.
comparative study of Companies act 2013Rohit Natani
The document provides an overview of key changes between the Companies Act, 1956 and the Companies Act, 2013. Some of the major changes include an increase in the number of chapters and sections in the new act, the introduction of new types of companies like One Person Company, more stringent requirements for public deposits and charges, and changes to provisions related to annual general meetings, board meetings, and share capital. The new act also includes updated definitions for terms like associate company, promoter, and small company.
The document provides commentary and proposals on key issues relating to Vietnam's Enterprise Law. It identifies 32 issues and proposes amendments to address inconsistencies between the draft Enterprise Law and other laws, make the law more practical for businesses, and limit arbitrary power of state bodies. The proposals aim to clarify responsibilities, remove impractical requirements, and reduce voting thresholds to align with international standards.
Five key points about corporate regulations in Colombia are summarized:
1. Corporate law enjoys stability through consistent legislation that has progressed over time.
2. Foreign investors generally must establish subsidiaries or branches to do permanent business.
3. Incorporating a legal entity is generally simple and does not require prior government approval.
4. Investors do not need a local partner and can fully own entities with few exceptions.
5. Financial statements must be issued annually and filed with the Chamber of Commerce.
IPO comes with challenges especially in terms of governance and board and officers liability. this presentation highlight the liability of the board members in public listed company in Saudi Arabia.
This document is a legal guide for doing business in Colombia that was prepared in 2019. It provides an overview of 12 key chapters on Colombian law and regulations relevant for foreign investors, including corporate regulations, foreign exchange, trade, labor laws, taxes, intellectual property and more. The guide was created by ProColombia in association with the law firm Baker & McKenzie to inform foreign investors on major legal aspects of investing and operating in Colombia.
The document discusses key provisions of the Insolvency and Bankruptcy Code (IBC) 2016 and its relationship with the Income Tax Act 1961. Some key points:
- IBC aims to consolidate insolvency laws and provide a time-bound resolution process for insolvent companies, individuals, and partnerships.
- IBC overrides any other inconsistent law due to its non-obstante clause. Amendments were made to the Income Tax Act to ensure consistency with IBC.
- Tax authorities can file claims under IBC like other operational creditors but do not have voting rights in the Committee of Creditors. Their claims also do not take precedence over secured creditors.
- During the corporate
Similar to Representation to Mr Ravi Shanker Prasad from CS Rajiv Bajaj (20)
The document discusses the results of a study on the impact of COVID-19 lockdowns on air pollution. Researchers analyzed data from dozens of countries and found that lockdowns led to an average decline of nearly 30% in nitrogen dioxide levels over cities. However, they also observed that this improvement was temporary and air pollution rebounded once lockdowns were lifted as vehicle traffic increased again. Overall, the study highlights how stay-at-home orders can provide short-term improvements to urban air quality but more sustained policies are needed for long-term benefits.
Online Filing System for Offer Documents,Schemes of Arrangement, Take...Rajiv Bajaj
SEBI has introduced an online filing system for offer documents, schemes of arrangement, takeovers, and buybacks to facilitate ease of operations. All merchant bankers and recognized stock exchanges must simultaneously file documents online through the SEBI Intermediary Portal in addition to physical filings between February 1, 2018 and March 31, 2018. After April 1, 2018, only online filings will be accepted. The circular outlines the portal details and contact information for assistance.
Report on Corporate Governance by Committee Rajiv Bajaj
The committee was formed in June 2017 under the chairmanship of Mr. Uday Kotak to enhance corporate governance standards of listed Indian entities. It consisted of officials from government, industry, professional bodies and academia.
The committee's terms of reference were to make recommendations to SEBI on ensuring independence of independent directors, improving related party transaction disclosures and safeguards, addressing issues in accounting/auditing practices, improving board evaluation effectiveness, and addressing investor voting issues.
The committee submitted its report on October 5, 2017 after taking public comments on its recommendations.
CS Rajiv Bajaj Newsletter dated 28th April 2017Rajiv Bajaj
Tom Monaghan founded Domino's Pizza in 1960 and grew it into the international franchise that it is today. He pioneered the concept of pizza delivery and developed an insulated pizza box to keep pies warm during transport. By the mid-1980s, nearly three new Domino's franchises were opening every day. In 1998, Monaghan sold 93% of his Domino's stock to Bain Capital for an estimated $1 billion. After retiring from Domino's, he has dedicated his time and fortune to promoting Catholic and conservative causes.
Marissa Mayer is an American technology executive who currently serves as the president of Yahoo. She has a background in computer science and artificial intelligence, graduating from Stanford with advanced degrees in these fields. Prior to joining Yahoo in 2012, Mayer worked at Google for 13 years where she held several leadership roles and helped grow Google Search. As president and CEO of Yahoo, Mayer has overseen major personnel changes and the potential sale of Yahoo's business.
Marissa Mayer is an American technology executive who currently serves as the president of Yahoo. She has a background in computer science and artificial intelligence, graduating from Stanford with advanced degrees in these fields. Prior to joining Yahoo in 2012, Mayer worked at Google for 13 years where she held several leadership roles, helping to grow Google Search. As president and CEO of Yahoo, Mayer has overseen major personnel changes and the potential sale of Yahoo's business.
Peter Sands is a British banker who served as the CEO of Standard Chartered from 2006 to 2015. He has an educational background that includes degrees from Oxford University and Harvard University. During his tenure as CEO, Standard Chartered's headcount nearly doubled and over 90% of its profits came from fast-growing emerging markets in Asia. The bank weathered the economic downturn far better than its competitors and announced its seventh successive year of record profits in 2009. Sands stepped down as CEO in 2015 after nine years in the role, one of the longest-serving chiefs of a major Western bank. He now holds positions at Harvard and advises the UK Department of Health.
Ross Maxwell McEwan is the CEO of The Royal Bank of Scotland Group (RBS). He has over 30 years of experience in banking and insurance. Prior to joining RBS, he was the CEO of Commonwealth Bank of Australia's retail banking services. In his role at RBS since 2013, McEwan is focused on moving the bank away from investment banking and reducing international exposure in order to focus more on UK retail banking. He was educated in New Zealand and has held top executive positions with several insurance and banking companies throughout his career.
Arundhati Bhattacharya is the first woman to serve as Chairperson of State Bank of India. She has over 36 years of experience with SBI, holding several leadership positions in areas such as foreign exchange, treasury, retail operations, and investment banking. Some of her accomplishments include launching new businesses for SBI and introducing innovative policies supporting work-life balance and women's health. Bhattacharya is recognized internationally as a powerful leader, being named the 25th most powerful woman in the world by Forbes in 2016.
Carlo De Benedetti is an Italian industrialist and engineer who has held leadership roles at several major Italian companies. He was briefly CEO of FIAT in 1976 but resigned due to disagreements over layoffs. He went on to acquire the CIR Group and Olivetti, where he served as CEO from 1978 to 1996, transforming Olivetti's focus from typewriters to computers. De Benedetti also founded the Italian telecommunications companies Omnitel and Infostrada. He remains influential as the chairman of the Espresso Editorial Group, which owns the newspapers La Repubblica and L'Espresso.
Denise Morrison is the President and CEO of Campbell Soup Company. She has over 30 years of experience in consumer packaged goods and previously held executive roles at Kraft Foods, PepsiCo, Nestle, and Nabisco. Morrison earned a bachelor's degree from Boston College and began her career at Procter & Gamble before moving into various sales and marketing positions at other major food companies. As the first female CEO of Campbell Soup Company, she leads their global operations and portfolio of brands.
Bill McDermott is the current CEO of SAP SE, having previously served as co-CEO from 2010 to 2014. He has over 30 years of business experience, including leadership roles at Xerox, Gartner, and Siebel Systems. McDermott began his career by purchasing a local deli at age 17 and used the profits to fund his education, eventually earning an MBA from Northwestern University's Kellogg School of Management.
Lisa Su is an American business executive and electrical engineer who currently serves as CEO and president of Advanced Micro Devices (AMD). She has over 25 years of experience in the semiconductor industry, previously holding engineering and management roles at Texas Instruments, IBM, and Freescale Semiconductor. Su was appointed president and CEO of AMD in 2014. Under her leadership, AMD has focused on making strategic technology investments, streamlining products, and diversifying. She is recognized for her technical expertise in developing more efficient semiconductor chips and manufacturing processes.
Vikram Pandit is an Indian-American former banker who served as CEO of Citigroup from 2007 to 2012. He earned degrees from Columbia University in electrical engineering and later a PhD in finance from Columbia Business School. Pandit had a long career at Morgan Stanley, rising to president and COO, before co-founding a hedge fund and then being named CEO of Citigroup in 2007. As Citigroup CEO, Pandit worked for $1 per year salary until the company returned to profitability and helped lead its recovery in the aftermath of the financial crisis, though he resigned unexpectedly in 2012.
Kazuo Hirai is the President and CEO of Sony Corporation. He has over 30 years of experience in the music and video game industries at Sony. Hirai began his career at Sony Music Entertainment Japan in 1984 and held various marketing and management roles there. In 1995, he joined Sony Computer Entertainment America to oversee their video game business. He later became President of Sony Computer Entertainment, overseeing its global operations. In 2012, Hirai was appointed President and CEO of Sony Corporation, taking over from Howard Stringer.
The document provides a daily update on various legal, regulatory, and market news. It includes the following:
- A quote about changing one's inner mind to change outer life circumstances.
- Several legal updates from recent court rulings related to tax, antitrust, and liquidation cases.
- Regulatory announcements from SEBI and CBEC regarding listed companies and import duties.
- Closing stock market indices and commodity prices.
Susan Wojcicki is the CEO of YouTube. She grew up in California and studied history and literature at Harvard University and later earned two master's degrees. She worked at Intel and as a management consultant before joining Google in 1999 as its first marketing manager. At Google, she helped develop products like Google Images, Google Books, AdWords, AdSense, and Google Analytics. She proposed that Google acquire YouTube in 2006. In 2014, she became the CEO of YouTube. She has been recognized as one of the most influential people in technology and advertising.
The document discusses Carlos Slim, a Mexican business magnate and the former richest person in the world. It outlines that Slim built a vast business conglomerate comprising industries like telecommunications, education, and media. It also notes that he derives his fortune from extensive holdings in Mexican companies through his conglomerate Grupo Carso. The summary provides details on Slim's early investments and education in business and engineering.
Eli Hurvitz was an Israeli industrialist and former CEO and Chairman of Teva Pharmaceutical Industries. He started his career washing dishes at a small pharmaceutical company and worked his way up to executive roles. He led mergers that formed Teva Pharmaceutical Industries, where he served as CEO until 2002 and then Chairman until his death in 2011. Hurvitz received many honors including the Israel Prize for lifetime achievement and special contribution to society and state. He played a leading role in developing Israel's economy and high-tech industry.
Sulajja Firodia Motwani is an Indian entrepreneur and philanthropist who is the Vice Chairperson of Kinetic Engineering Limited and Founder & CEO of Kinetic Green Energy & Power Solutions Limited. Under her leadership, Kinetic Group has expanded from a moped manufacturer into a manufacturer of a complete range of two-wheelers. She has also founded Kinetic Green Energy to focus on green mobility and electric vehicles. Sulajja has received several awards for her successful leadership and performance as a woman CEO, including being selected as a World Economic Forum Global Leader of Tomorrow.
Elevate Your Nonprofit's Online Presence_ A Guide to Effective SEO Strategies...TechSoup
Whether you're new to SEO or looking to refine your existing strategies, this webinar will provide you with actionable insights and practical tips to elevate your nonprofit's online presence.
Level 3 NCEA - NZ: A Nation In the Making 1872 - 1900 SML.pptHenry Hollis
The History of NZ 1870-1900.
Making of a Nation.
From the NZ Wars to Liberals,
Richard Seddon, George Grey,
Social Laboratory, New Zealand,
Confiscations, Kotahitanga, Kingitanga, Parliament, Suffrage, Repudiation, Economic Change, Agriculture, Gold Mining, Timber, Flax, Sheep, Dairying,
CapTechTalks Webinar Slides June 2024 Donovan Wright.pptxCapitolTechU
Slides from a Capitol Technology University webinar held June 20, 2024. The webinar featured Dr. Donovan Wright, presenting on the Department of Defense Digital Transformation.
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
Gender and Mental Health - Counselling and Family Therapy Applications and In...
Representation to Mr Ravi Shanker Prasad from CS Rajiv Bajaj
1. I.;rii).lccrr !ppcal to review firltll Rilles of Cotnparries Act, 2013 alrcl ~llodil:)..
f ! t t t : ? YOOII :I l ) , i ~ ~ i ~ ) l ~ ~ ~
, .
ll..IL I.ccs~liarinouncements of the Rules under the Companies Acl , 21) 13
is lcavi~rgI ~ L I C I I to be desired. We the undersigned representing ll.lis
I.JOL:II~CIIL Containing the requests and appeals fi-om the Members ol'
li ' b i .I.Io iiave lilled this representation on bel1a1.fof Co~npanySecretary
. .
(- oilii; I L I 11ity ~ v l iicl~ 11as always acted as the (:orpol-ateu Law ttl'ici
(;()v(.:~.I~~.II~ccSpecialists and as an Inaitution set up under a11 Act 01'
I';i~.li:iriic~~~i!) i ')SO, We as Company secretary Cornprise morc 1l1al.i
.i.;i.i(.l ~iicn.rhc~.sand 4 lacs Students working for the Col.pol-ale Scctor
I . ~/lil~ist~.yol-' 1,aw and Justice to ensure that the Colnplii~nceis
~ii:~i~-~~ai~~eclat all lelels.
Si I-.Over l.lw pas1 decade Company Secretaries have worked til-clcssl;
I 1Iic hlinistry of Law and Justice to provide Justice to iiil ihc
staheholtlcrs involved in corporate sector as well as assisted io Legdl
I-LIICS I'Ollow L I ~properly .
2. 171-iiig into 1ight our liumble submission on the following areas
i~it!& . ~ O L I I .ill-mediate attention( the mails of lndivid~~alS L I ~ I I I ~ S S ~ O I ~ S
i I l-~ildyJJCCII sent tlirough various representations to Y O L I ~Ofl-icials
.! iulinistr-y ) We prepare a brief for quiclc action at your end :-
A ol)oilll ~ ~ l e l l lof KMP:-As per section 203 of tlie Coii7panies Act,--
20 13 ~.cad~ v i l l irelevant rules, every listed coiilpany and cver-y
()llicl.pi~hlicco~npanieshaving paid up capital of Its. 10 CI.or IIIOI-e
sliall have a wl~ole-timeKMP (MD, WTD, Manager, CS, elc.)
,vhicli i~nplies that Private companies and unlisted p~~blic
conipanies no1 1iavi11gpaid up capital as aforesaid are not in lleed
lo comply wit11 provisions of Law, which act~lallyis not the very
i 11leiili~iio(' law malcers, because Colnpaliy Secretary wl~icl~is also
li~iohi~~:IS Gavel-nance Professional is the only profession wllicl~
I * I I S L I I . ~ S~011i1~Iia17~eof the Law wlietl~er Compa~iics Act 01.
ollierwise. I I'we yo by the earlier Rule notified on the lKMI-'s, everya
l i~ietlcolnpa~~iesand every other companies l~avingpaid up capita l
ol' Rs. 5 CI-01. more were in need to appoint a whole-time ICMP
tvliich was very much in line with intention of the Law Malters.
I~nwever,tlie liii~itof Rs. 5 Cr has bee11increased upto I0 CI-and
121.iv;~lecon1l)anies have been exempted and exclusively lcepi oul oI'
1~111.vicwof h e section in question which is nothing but a11 ul111osi
slioclc to a1l staltel~oldel-s.
3. 3. --Ccr-lilici~lio~lol' Annual Return (Section 92 of' CA, 2013):- As
pcl- seclion 92 of the Companies Act, 2013 read with ~'elevanl
2. ---Srbcr-cl;triiil Audit:-As per section 204 read wit11 releva;;t i-ujcs
every listed cornpallies and every other public companies having
~.ulcs,all Listed companies and colnpanies having paid up capiral
paid up capital of Rs. 50 Cr or More or Turnover of Rs. 250 Cr 01-
More shall annexed with its Boards' Report a Secretarial Audit
Rel~ortgiven by a Company Secretary in Practice. The very effect
ol' I<s. I0 CI.or more or 'Tun~overof Us. 50 Cr 01- more shall get ils
I
A ~ i n ~ ~ a lReturn Certified by a Company Secretary in Practice. The
ccrtil-ica~ionof Annual Return of Listed Company was already
or secl.io11203 and sectiol~204 read with relevant Rules is dlat
I'1.i /ale Co~iipal~iesand unl isted public company haviI I ~paid u p
capil.al as al'ol-esaid is free from colnpliance because neither hey
need to have a whole-time Company Secretary nor they recluired to
ollnexed Secl-etal-ialAudit to its Boards' Report.. Tt is pertinent lo
notc 1.11alby i~itroducil~gthese sections and corlAespondingrules, we
alee Lryil~gto have check 01.1 big public cornpallies which are
al~eeadycompliant due to sonle or reasons and 017 other side wc are
p~.ovicIi 11gi11lll)Iespace to compal~iesin middle range to inclulge in
nol~-co~~~plia~~ceand lnalpractices by keeping them out or-' [lie
purview or sections in question which definitely would not llave
been illtention of the Law Malters.
4. t11e1.ein [lie old Act. Apart from that we had 383A wllich pi-mide
Ihr Secrelarial Complialice Report for companies having paid up
capital 01' 11s. 10 Lakhs or more but less than 5 cr wliicl~act~~allyis
clispensecl wi~hunder new Act and accordingly lnore than 93
I>cl-celllof co~npanieshave been kept ootside tlie purview of any
ilitlcl~cnclenlI-eview,moliitoring, audit or certification relating (o
co~-l~ol.aleco~i~plianceby governance professional like Company
Sec~'ela~*ies.
13asecI 011above Facts we wish to have Ministry of Law and Justice to
.
loolc ill lo 1-ulesof Co~iipa~iiesAct 2013 and please do tlie need lid as
1.0 l lo/s;rncl requesled to safeguard the interest of tlie stake1iolde1-sand
also provide the Justice to the Company Secretary Com~nunity.The
A~~lhoi.isedCapilal Limit should be reduced to 5 Cr and PrivateX
co111pr111ie.s,nus[ be kcluded in the ambit6ofSection 203
oj The Seerelavial Audit Must be made applicable lo [hose
compalzies which are at least subjecl to internal Audit
Wc (lie Members as per the attached names have made our submission
to YOLJ will1 high hopes. We understand and appreciate that ~ O L Iare
equally concerned on the matter and as a well wisher of the Profession
of Cornpany Secretaries we are very hopeful that you will meet our j us1
dc~n:~ntlsexplained to you in person as well. To strengthen our case on
-
5. all tlicsc points we are attaching this representation to once again stress
on OLII.paill and ang~~ishover the recently notified rules.
I 'I: I~avcvery high hopes froin the young and dy~~amicleacler lilte ~ O L I
I ancl bvc al.e s~11.eillat you will not let us down.
'l'l~anlti~~gyou in anticipation.
CS RA.IIV BAJAJ -9811453353