What is Section 337C?
Section 337C(1) Where a declaration has been submitted to the company, by a shareholder who is not a beneficial owner of the company, tick this box and state the date on which the declaration was Page 1 of 11 Page 2 DISCLAMER: This document is intended for information and general guidance on how to complete Form 45 …
What is Section 63 of the Companies Act?
Issue of bonus shares. (iii) the capital redemption reserve account: Provided that no issue of bonus shares shall be made by capitalising reserves created by the revaluation of assets.
What is the Section 46 of the Companies Act 2013?
(1) A certificate, 1[issued under the common seal, if any, of the company or signed by two directors or by a director and the Company Secretary, wherever the company has appointed a Company Secretary], specifying the shares held by any person, shall be prima facie evidence of the title of the person to such shares.
What is Section 45 of the Companies Act?
The directors may authorise the company to provide direct or indirect financial assistance to a director, prescribed officer of the company or of a related or inter-related company, or to a related or inter-related company or corporation, or to a person related to any such company, corporation, director, prescribed …
What is the Form 45?
FORM 45 – Declaration of compliance with the provisions of section 123A of the Companies Act, 2017.
What are Section 21 companies?
Section 21 of the Companies Act 61 of 1973 allows for a ‘not-for-profit company’ or ‘association incorporated not for gain’. Section 21 companies resemble business oriented (for profit) companies in their legal structure, but do not have a share capital and cannot distribute shares or pay dividends to their members.
What is Section 73 of Companies Act, 2013?
(1) Every company, other than a private company, shall disclose in its financial statement, by way of notes, about the money received from the director. (2) Every private company shall disclose in its financial statement, by way of notes, about the money received from the directors, or relatives of directors.
What is Section 185 of Companies Act, 2013?
The original Section 185 prohibited the companies from advancing any loan and/or giving any security or guarantee in relation to the loan taken by the Directors of the company or any other person in whom the Director is interested.
What is ultra vires doctrine?
The Doctrine of Ultra Vires is a fundamental rule of Company Law. It states that the objects of a company, as specified in its Memorandum of Association, can be departed from only to the extent permitted by the Act.
Do shareholders need to approve loans?
Loans and Quasi-Loans Member approval is required for loans by a company/parent company to a director or for the company providing a guarantee/security to any person for a loan made to a director. Again, a majority of the voting shareholders are generally needed to provide approval.