Companies (Incorporation) fourth Amendment Rules, 2016 (Company law notification no. G.S.R. 936 (E ) , Dated 1st October, 2016)

Company incorporation fourth amendment rules, 2016 amend Companies (Incorporation) Rules, 2014.

Ø Amendment in sub rule 2 of Rule 33 (alteration of article)

The following shall be substituted

“(2) subject to the provision of sub-rule (1), for effecting the conversion of a public company into a private company, a copy of order of the Tribunal approving the alteration, shall be filed with the Registrar in Form No.INC-27 with fee together with the printed copy of altered articles within fifteen days from the date of receipt of the order from the Tribunal".

Earlier it is read as

“(2) A copy of order of the competent authority approving the alteration shall be filed with the Registrar in Form No. INC.27 with fee together with the printed copy of the altered articles within fifteen days of the receipt of the order from the Central Government.

Explanation.- For the purposes of this sub-rule, the term “competent authority” means, the Central Government.”

Ø New Rule 38 (Simplified Proforma for Incorporating Company Electronically (SPICE)) shall be inserted, with effect from 2^nd October 2016.

Ø New Rule 39 (Conversion of a company limited by guarantee into a company limited by shares) shall be inserted with effect from 1^st November 2016.

Ø Form No. INC-11B (Certificate of Incorporation pursuant to conversion of a company limited by guarantee into a company limited by shares) shall be inserted.

Ø Form No. INC -27 shall be amended (Conversion of public company into private company or private company into public company and conversion of unlimited liability company into a company a company limited by shares or guarantee or conversion of guarantee company into a company limited by shares).

Notification no. G.S.R. 936 (E ), Dated 1^st October, 2016.