Section 71 Of The Companies Act
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902 e issued dated 27 03 2014.
Section 71 of the companies act. Surprisingly the form of the business judgement rule set out in section 76 4 and 5 of the 2008 companies act most closely resembles in form at least that set out in sections 180 and 189 of the australian corporations act of 2011. 71 power of company to alter its share capital. Provided that the issue of debentures with an option to convert such.
Section 71 of the companies act 2013 companies act permits a company to issue debentures with an option to convert such debentures into shares either wholly or partly at the time of redemption. Debentures 1 a company may issue debentures with an option to convert such debentures. To be proclaimed as amended by.
These regulations became effective on 1 may 2011 at the same time that the companies. In the case of a company incorporated before the date of commencement of section 3 of the companies amendment act 2014 the memorandum of association of the company the articles of association of the company or both in force immediately before that date. Section 71 of the companies act 2013 has been notified by the ministry of corporate affairs mca vide notification no.
Download all sections of the companies act 2013 in. This amendment act need to be read together with the companies act no 71 of 2008. The companies act 71 of 2008 aims.
Companies act 71 of 2008 english text signed by the president assented to. This test does not replace the common law duty of care. 8 april 2009 commencement date.
It is in the nature of a safe harbour. Into shares either wholly or partly at the time of redemption. Debentures effective from 1st april 2014 except sub sections 9 to 11 which is effective from 1st june 2016 1 a company may issue debentures with an option to convert such debentures into shares either wholly or partly at the time of redemption.
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