Extracts from Companies (Incorporation) 4th Amendment Rules, 2018

Extracts from Companies (Incorporation) 4th Amendment Rules, 2018

MCA has notified the Companies (Incorporation) 4th Amendment Rules,2018 dated 19 December 2018. We have discussed the declaration at the time of commencement of business. 

Declaration at the time of commencement of business:

The declaration under section 10A by a director shall be in Form No,lNC-20A and shall be filed as provided in the Companies [Registration Offices and Fees) Rules, 20].4 and the contents of the said form shall be verified by a Company Secretary or a Chartered Accountant or a Cost Accountant in practice:

“Provided that in the case of a company pursuing objects requiring registration or approval from any sectoral regulators such as the Reserve Bank of India, Securities and Exchange Board of India, etc., the registration or approval, as the case may be from such regulator shall also be obtained and attached with the declaration.”.

Most Important note:

It may be noted that the Form INC 20A is required to be filed by every Company incorporated after 2nd November 2018 within 180 days from the date of incorporation along with the evidence of receiving initial subscription money. Without this, the Company can’t commence its business operations.