Government Notice No......... of 2001

 THE COMPANIES ACT 2001

 Regulations made by the Minister under 

section 360 of the Companies Act 2001

1. These regulations may be cited as the Companies (Amendment of Schedules) Regulations 2001.In these regulations -

2. "Act" means the Companies Act 2001.

1. in the Second Schedule, by inserting at the commencement of the Schedule before the heading "Constitution of a private company limited by shares" the words "A private company may, in a constitution registered by it, exclude or modify any of the provisions of this Schedule to the extent permitted by the Act".

2. in the Tenth Schedule -

   1. in paragraph 5(1)(j), by deleting the words "the stated capital" and replacing them by the words "subject to section 48(3) of the Act, the stated capital"

   2. in paragraph 5(2), by deleting the words "authorized mutual fund" and replacing them by the words "open-ended fund including an authorised mutual fund".

3. in the Fourteenth Schedule, in Part I, by adding after paragraph 5, the following new paragraph -

6. Officers and agents

1. The directors of a company holding a Category 1 Global Business Licence or a Category 2 Global Business Licence may, by resolution of directors, appoint any person, including a person who is a director, to be an officer or agent of the company.

2. Subject to the constitution of a company or a unanimous shareholder agreement, each officer or agent shall, subject to subsection (3), have such powers and authority of the directors, including the power and authority to affix the common seal of the company, where it has one, as are set forth in the constitution or unanimous shareholder agreement or resolution of directors appointing the officer or agent.

3. No officer or agent shall have any power or authority with respect to the matters requiring a resolution of directors under the Act. 

4. (4) The directors may remove an officer or agent appointed under subsection (1) or revoke or vary a power conferred on him under
   subsection (2).

4. These regulations shall be deemed to have come into operation on 1 December 2001. 

Made by the Minister on ............ December 2001.

 

 

Fee payable

Items

Matters in respect of which a fee shall be payable

Within the due date

After the due date

1.

In the case of a small private company -

(a)  at the time of its incorporation; and

(b) in respect of every subsequent year

In the case of a company holding a Category 2 Global Business Licence -

(a)           at the time of its incorporation; and

(b)           in respect of every subsequent year

Rs 2,000

Rs 2,000

US$ 65

US$ 65

-

Rs 3,000

-

US$ 100

2.

In the case of a foreign company -

(a)  at the time of its registration; and

(b) in respect of every subsequent year

Rs 9,000

Rs 9,000

-

Rs 13,000

3.

In the case of a company

(a)  recorded by the Registrar as being a dormant company;

(b) in respect of every subsequent year.

Rs 2,000

Rs 2,000

Rs  3,000

Rs  3,000

4.

In the case of a public company -

(a)           at the time of its incorporation; and

(b)           in respect of every subsequent year

Rs 9,000

Rs 9,000

-

Rs 13,000

5.

In the case of any other company -

(a)           at the time of its incorporation; and

(b)           in respect of every subsequent year

Rs 2,000

Rs 6,000

-

Rs  9,000

6.

In the case of a commercial partnership (société commerciale including société commerciale de fait) -

(a)           at the time of its registration; and

(b)           in respect of every subsequent year

Rs 6,000

Rs 6,000

-

Rs  9,000

Item

Matters in respect of which a fee shall be payable

Fee payable

1.

For any certificate issued by the Registrar or for certifying any copy or extract of any document in the custody of the Registrar

Rs 100

2.

For a copy or extract of any document in the custody of the Registrar

Rs 20         (per page)

3.

For search of information in respect of every company or commercial partnership

Rs  50