On 3 January 2018, the Companies (Amendment) Act, 2017 (Amendment Act, 2017) received the assent of the President of India.

On 26 January 2018, Ministry of Corporate Affairs (MCA) has notified the enforcement of the provisions of Section 1 and Section 4 of the Amendment Act, 2017.Additionally, MCA notified 43 sections with effect from 9 February 2018. The key sections notified were:

• Declaration of dividend (Section 123 of the Companies Act, 2013 (2013 Act))
• Powers and duties of auditors and auditing standards (Section 143 of the 2013 Act)
• Related party transaction (Section 188 of the 2013 Act)

Recently, MCA through its notification dated 7 May 2018 notified certain sections of the Amendment Act, 2017. Additionally, MCA issued amendment to certain rules under the Companies Act, 2013 (2013 Act). The notified provisions are effective from 7 May 2018.

This issue of First Notes aims to provide an overview of the recently notified sections of the Amendment Act, 2017 and the amendments issued to the rules to the 2013 Act.

To access the text of MCA notification on

• Sections notified, please click here
• Companies (Meetings of Board and its Powers) Amendment Rules, 2018, please click here
• Companies (Audit and Auditors) Amendment Rules, 2018, please click here
• Companies (Prospectus and Allotment of securities) Amendment Rules, 2018, please click here
• Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2018, please click here
• Companies (Share Capital and Debentures) Second Amendment Rules, 2018, please click here
• Companies (Registration Offices and Fees) Second Amendment Rules, 2018, please click here
• Companies (Specification of Definitions Details) Amendment Rules, 2018, please click here