Maintenance of register of significant beneficial owners in a company

Published in news-legal June 15 2018 1
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MCA appoints June 13, 2018 as the date on which Sections 22, 24 to 26 and Sec. 71 of the Companies (Amendment) Act, 2017 (‘Amendment Act’) shall come into force;
The Amendment Act substitutes Sec. 90 of the Companies Act, 2013 (‘the Principal Act’) which provides for maintenance of register of significant beneficial owners in a company, vide Sec. 22; Sec. 24 of the Amendment Act omits Sec. 93 of the Principal Act, per which every listed Company was required to file a return with the Registrar of Companies (‘ROC’), for intimation of change in Promoters’ stake;

Further, vide Sec. 25 of the Amendment Act, the requirement of submitting special resolution for keeping a Company’s registers, returns and other requisite documents at any place in India other than its registered office, to the ROC in advance as provided u/s 94 of the Principal Act, has been dispensed with; According to Sec. 26 of the Amendment Act, an unlisted Company may hold its Annual General Meeting at any place in India if all members consent through the prescribed modes, also amends Sec. 216 of the Principal Act by inter alia by adding beneficial owners to the list of true persons whose shareholding may be investigated: MCA
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