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Enforcement of Section 66-70 of the Companies Act

Enforcement of Section 66-70 of the Companies Act (Amendment), 2017

The MCA has issued a notification in which the enforcement of Section 66-70 of the Companies Act is declared. These sections will come into the force from 12th September 2018. These sections are the part of the Companies (Amendment) Act, 2017. These sections were not enforced at the time of such amendment. But these will be applicable from 12th September 2018. Following are the sections, which are being enforced:

Section
[As per Companies (Amendment) Act, 2017]
Original Section Topic of Section Enforced from
Section 66 Section 196 Appointment of Managing Director, Whole-time Director or Manager 12th September 2018
Section 67 Section 197 Overall Maximum Managerial Remuneration and Managerial Remuneration in Case of Absence or Inadequacy of profits 12th September 2018
Section 68 Section 198 Calculation of profits 12th September 2018
Section 69 Section 200 Central Government or Company to Fix Limit with Regard to Remuneration 12th September 2018
Section 70 Section 201 Forms of, and Procedure in relation to, certain applications 12th September 2018

 

Click the below image to download the notification for enforcing the above sections:

Section 66-70 of the Companies Act

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