Hello Everyone,
ICAI today dated 07 May 2019 has issued new notification on its official website https://icai.org. Following are the details regarding same –
Corrigendum in the RTP of Paper No. 2: Corporate and Other Laws in the printed copy (for May 2019 Examination)-(07-05-2019)
The following amendments are also applicable for May 2019 examinations:
- The Ministry of Corporate Affairs vide G.S.R. 560 (E) dated 13th June, 2018, has amended the Companies (Management and Administration) Rules, 2014 through the Companies (Management and Administration) Second Amendment Rules, 2018.
Accordingly, in the Companies (Management and Administration) Rules, 2014,
| S. No. | Particulars | Page No. | Earlier Law |
| 1. | rule 13 shall be omitted | Pg 7.13 | Rule 13 dealt with Return of Changes in Shareholding Position of Promoters and Top Ten Shareholders. |
| 2. | the “Form No.MGT-10” shall be omitted | Pg 7.13 | MGT- 10 |
| 3. | in rule 15, the sub-rule(6), shall be omitted | Pg 7.15 | Copy of proposed Special Resolution field with ROC: …..at least one day before the date of general meeting of the company in Form MGT – 14. |
| 4. | in rule 18, in sub-rule (3), Explanation after clause (ix), shall be omitted | Pg 7.50 | In Diagram ignore the words, and Explanation under Rule 18(3) |
| 5. | in rule 22, in sub-rule(16) for the proviso, the following shall be substituted, namely:- “Provided that any aforesaid items of business under this sub-rule, required to be transacted by means of postal ballot, may be transacted at a general meeting by a company which is required to provide the facility to members to vote by electronic means under section 108, in the manner provided in that section: Provided further that One Person Companies and other companies having members upto two hundred | Pg 7.37 | Provided that One Person Company and other companies having members upto 200 are not required to transact any business through postal ballot. |
| are not required to transact any business through postal ballot” ‘Provided that One Person Company and other companies having members upto 200 are not required to transact any business through postal ballot. |
- As per the Companies (Amendment) Act, 2017, in section 447 of the principal Act,—
| S. No. | Particulars | Page No. | Earlier Law |
| 1. | after the words “guilty of fraud”, the words “involving an amount of at least ten lakh rupees or one per cent. of the turnover of the company, whichever is lower” shall be inserted. | Pg 3.25 | The words are newly inserted |
| 2. | after the proviso, the following proviso shall be inserted, namely:— “Provided further that where the fraud involves an amount less than ten lakh rupees or one per cent. of the turnover of the company, whichever is lower, and does not involve public interest, any person guilty of such fraud shall be punishable with imprisonment for a term which may extend to five years or with fine which may extend to twenty lakh rupees or with both.” | Pg 3.26 | In earlier law the proviso was not there. The proviso is newly inserted |
Note: The page number given against an amendment are for reference of the students. If a provision is appearing at more than one places in the study material/ or any other publication, the amended provision is applicable at all other such places also.
Corrigendum for the subject of Corporate and Other Laws, Intermediate, New course related to July 2017 edition (hard copy)
| S.No | Module | Chapter | Page No. | Matter |
| 1. | Module II | The Indian Contract Act, 1872, Unit-1 | 1.17 | In Test your knowledge of the said chapter, the revised answers to MCQs are 1(a), 2(c), 3(c), 4(a), 5(d). |
| 2. | Module II | The Negotiable Instruments Act, 1881 | 2.46 | In Test your knowledge of the said chapter, the revised answer to MCQ No. 5 is (a). |
Corrigendum to the Supplementary Study Paper (hosted on the website) of Paper 2: Business Laws, Ethics and Communication (Intermediate Level, Old course)
In Unit 4 of Chapter 6, on page 197, in Example 1, figure of 5400 is to be read as 54.
Corrigendum in the RTP of Paper No. 2: Business Law, Ethics and Communication in the printed copy (for May 2019 Examination)
The following amendments are also applicable for May 2019 examinations:
- The Ministry of Corporate Affairs vide G.S.R. 560 (E) dated 13th June, 2018, has amended the Companies (Management and Administration) Rules, 2014 through the Companies (Management and Administration) Second Amendment Rules, 2018.
Accordingly, in the Companies (Management and Administration) Rules, 2014,
| S. No. | Particulars | Page No. of SSP | Earlier Law |
| 1. | rule 13 shall be omitted | Pg 188 | Rule 13 dealt with Return of Changes in Shareholding Position of Promoters and Top Ten Shareholders. |
| 2. | the “Form No.MGT-10” shall be omitted | Pg 188 | MGT- 10 |
| 3. | in rule 15, the sub-rule (6), shall be omitted | Pg 189 | Copy of proposed Special Resolution field with ROC: …..at least one day before the date of general meeting of the company in Form MGT – 14. |
| 4. | in rule 18, in sub-rule (3), Explanation after clause (ix), shall be omitted | Pg 226 | In Diagram ignore the words, and Explanation under Rule 18(3) |
| 5. | in rule 22, in sub-rule (16) for the proviso, the following shall be substituted, namely:- “Provided that any aforesaid items of business under this sub-rule, required to be transacted by means of postal ballot, may be transacted at a general meeting by a company which is required to provide the facility to members to vote by electronic means under section 108, in the manner provided in that section: Provided further that One Person Companies and other companies having members upto two hundred are not required to transact any business through postal ballot” ‘Provided that One Person Company and other companies having members upto 200 are not required to transact any business through postal ballot. | Pg 213 | Provided that One Person Company and other companies having members upto 200 are not required to transact any business through postal ballot. |
- As per the Companies (Amendment) Act, 2017, in section 447 of the principal Act,—
| S. No. | Particulars | Page No. | Earlier Law |
| 1. | after the words “guilty of fraud”, the words “involving an amount of at least ten lakh rupees or one per cent. of the turnover of the company, whichever is lower” shall be inserted. | Pg 104 | The words are newly inserted |
| 2. | after the proviso, the following proviso shall be inserted, namely:— “Provided further that where the fraud involves an amount less than ten lakh rupees or one per cent. of the turnover of the company, whichever is lower, and does not involve public interest, any person guilty of such fraud shall be punishable with imprisonment for a term which may extend to five years or with fine which may extend to twenty lakh rupees or with both.” | Pg 104 | In earlier law the proviso was not there. The proviso is newly inserted |
Note: The page number given against an amendment are for reference of the students. If a provision is appearing at more than one places in the study material/ or any other publication, the amended provision is applicable at all other such places also.
Official Link updated by ICAI for above mentioned notifications can be accessed from below –
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