5 Questions
What is the purpose of the Companies Act, 2013?
To consolidate and amend the law relating to companies
When did the Companies Act, 2013 receive the assent of the Hon’ble President of India?
29th August 2013
How many sections does the Companies Act, 2013 contain?
470 sections
How many chapters does the Companies Act, 2013 have?
29 chapters
When was Section 1 of the Companies Act, 2013 enforced?
29th August 2013
Study Notes
- The Companies Act, 2013 is an Indian law consolidating and amending companies-related legislation.
- Necessitated by changes in economic environment and for economic expansion, it received the President's assent on August 29, 2013, and was notified on August 30, 2013.
- Different enforcement dates were appointed for various provisions of the Act through notifications.
- The Act contains 470 sections and seven schedules, divided into 29 chapters with at least one set of Rules each.
- The Act came into force in parts starting from September 12, 2013, and continues to be enforced incrementally.
- The legislation is rule-based, meaning it defines rules and regulations for companies to follow.
- The Companies Act, 2013 aims to meet the needs of the changing national and international economic context and promote the growth of the Indian economy.
Test your knowledge about the preliminary learning outcomes of Chapter 1 in the Companies Act, 2013. Explore the extent and commencement of the act, its application, and the definition clause.
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