Company Law Board (Amendment) Regulations, 1997 -Amendment in Company Law Board Regulations, 1991 - GSR. 433(E). - Companies Law

MINISTRY OF FINANCE (Department of Company Affairs) NOTIFICATION [F.NO. 1(10)/88-CL.V/CLB], DATED 1-8-1997, Subject:- Company Law Board ( Amendment ) Regulations, 1997 -Amendment in Company Law Board Regulations, 1991 GSR. 433(E). In exercise of the powers conferred by sub-section (6) of section 10E of the Companies Act, 1956 (1 of 1956), the Company Law Board hereby makes the following regulations further to amend the Company Law Board Regulations, 1991, namely : 1. (1) These regulations shall be called the Company Law Board (Amendment) Regulations, 1997. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Company Law Board Regulations, 1991 (hereinafter referred to as the said regulations), ( a ) in regulation 2, ( i ) for sub-regulation ( j ), the following sub-regulation shall be substituted, namely: ( j ) 'company' includes a non-banking financial company as defined in clause ( f ) of section 45-1 of the Reserve Bank of India Act, 1934 (2 of 1934) and a foreign company ;"; ( ii ) in sub-regulation ( p ) , for the word 'Act', the words, figures and brackets 'Act or the Reserve Bank of India Act, 1934 (2 of 1934)' shall be substituted; ( iii ) sub-regulation ( x ) shall be omitted ; ( b ) in regulation 4, in sub-regulation (3), for the words, figures and letter 'under sections 111 and 269 of the Act and under section 22A of the Securities Act', the words, figures and letters 'sections 111,111A and 269 of the Act' shall be substituted ; ( c ) in regulation 14, ( i ) in sub-regulation (3), ( A ) for the figure' 111;', the figures and letter' 111; 111 A;' shall be substituted; ( B ) the words, figures and letter 'and section 22A of the Securities Act' shall be omitted ; ( ii ) in sub-regulation (5), for the words, figures, letter and brackets 'section 58A(9) of the Act' ; the words, figures, letters and brackets 'sub-section (9) of the Act or under sub-section (2) of section 45QA of the Reserve Bank of India Act, 1934 (2 of 1934)', shall be substituted ; ( d ) for regulation 37, the following regulation shall be substituted, namely: "37. Application for deposit. - Applications under sub-section (9) of section 58A of the Act or 45QA of the Reserve Bank of India Act, 1934 (2 of 1934), shall be in Form No. 4 in Annexure II and shall be submitted in duplicate."; ( e ) regulation 42 shall be omitted. 3. In Annexure II to the said regulations, ( a ) in Form No. I, for the words, brackets, figures and letter "The Securities Contracts (Regulation) Act, 1956, section 22A', the words, figures and letters 'The Reserve Bank of India Act, 1934, section 45QA' shall be substituted ; ( b ) in Form No. 3, for the words 'Securities Act', the words and figures 'The Reserve Bank of India Act, 1934' shall be substituted ; ( c ) in Form No. 4, in the opening portion ( i ) for the words, letter and brackets 'Application by depositor under section 58A(9)', the words, figures, letters and brackets 'Application by depositor' under section 58A(9) of the Act or section 45QA of the Reserve Bank of India Act, 1934 ; (delete whichever is not applicable) shall be substituted ; ( ii ) for the word, figures and letter 'section 58A', the words, figures and letters 'section 58A of the Act or section 45QA of the Reserve Bank of India Act, 1934' shall be substituted. 4. In Annexure III to the said regulations, ( a ) for the entry '58A(9)' occurring under column 2 against serial number 6, the following entries shall be substituted, namely : "58A(9) or section 45QA of the Reserve Bank of India Act, 1934."; ( b ) for the entry '111' occurring under column 2 against serial number 9, the following entry shall be substituted, namely : "111 or 111A"; ( c ) serial number 32 relating to section 22A(4)( c ) of the Securities Act and entries relating thereto, shall be omitted.