MCA mandates every Company to designate a person for furnishing information on SBO

MCA mandates every Company to designate a person for furnishing information on SBO

 

The Ministry of Corporate Affairs (MCA) vide its notification dated 27/10/2023 has notified the Companies (Management and Administration) Second Amendment Rules, 2023 thereby amending the Companies (Management and Administration) Rules, 2014.

Major highlights of the update are as under:

1. Every company should designate a person who will be responsible for furnishing and extending co-operation for providing information to the Registrar or any other authorised officer with respect to beneficial interest in shares of the company.
2. If the company changes the designated person at any time, it should intimate the same to the Registrar in e-form GNL-2.
3. Every company should inform the details of the designated person in Annual return.
4. For this purpose, the company may designate-

• a company secretary, if there is a requirement of appointment of such company secretary under the Act and the rules made thereunder; or
• key managerial personnel, other than the company secretary; or
• every director, if there is no company secretary or key managerial personnel.

Until no person is designated by the company, the persons listed as per the above mentioned category shall be deemed to have been designated person.

 

Weblink of MCA Update: https://www.mca.gov.in/bin/dms/getdocument?mds=lVo7Nz8E9SMEBo5r07okJw%253D%253D&type=open

Cos (Management and admin) 2nd Amendment rules 2023