What is the Companies Act No 71 of 2008?
The Companies Act 71 of 2008 aims: to provide for the incorporation, registration, organisation and management of companies, the capitalisation of profit companies, and the registration of offices of foreign companies carrying on business within the Republic; to repeal the Companies Act, 1973 (Act No.
What is the new provision in Companies Act 2012?
The Salient features of the Companies Bill 2012 are as follows: 1. (Amendment in Clause 135): In the Section on Corporate Social Responsibility (Section135), which is being introduced as a statutory provision for the first time, the words ‘make every endeavour to’ have been omitted from its Sub-clause (5).
How many sections are there in Companies Act?
470 sections
The 2013 Act is divided into 29 chapters containing 470 sections as against 658 Sections in the Companies Act, 1956 and has 7 schedules….
| Companies Act 2013 | |
|---|---|
| Signed | 29 August 2013 |
| Commenced | 12 September 2013 (98 sections) 1 April 2014 (184 sections) |
| Legislative history | |
| Bill | The Companies Bill, 2012 |
What is a section 345 notice?
SECTION 345 NOTICE OF THE COMPANIES ACT It is trite law that commercial insolvency, being the inability of a company to pay its debts as it becomes due and payable, justifies the liquidation of a company.
Who does the Companies Act 2014 apply to?
The Companies Act 2014 consolidates the existing 17 Companies Acts, which date from 1963 to 2013, into one Act and it also introduced a number of reforms, which are designed to make it easier to operate a company in Ireland.
What is Section 4 of Companies Act, 2013?
According to Section 4 of the Companies Act, 2013, the MoA is a legal document specifying information about the shareholding of the company. It also outlines the scope of the company’s business activities. Further, it is prepared for the purpose of registering the company. It is also called the charter of the company.
What is far (fixed asset register)?
A fixed asset register ( FAR) is an accounting method used for major resources of a business or it can be defined as a statement of an organisation which shows the assets that it owns. This FAR (Fixed Asset Register) is made as per Schedule II of Companies Act 2013 in an MS Excel format.
Is it mandatory to maintain fixed asset register in income tax?
And in Income tax act there is no specific provision to maintain fixed asset register. So Fixed Asset Register is not mandatory as per companies Act CARO 9.
What is a fixed asset record?
A Fixed asset record is a mandatory under section 209(1)(c) of the Companies Act. 1956. Company requires to maintain various books of records it includes details relating to all its assets that form a part of its total fixed assets records.
Is the Companies Act 1985 up to date?
Companies Act 1985 is up to date with all changes known to be in force on or before 01 August 2019. There are changes that may be brought into force at a future date.