New Delhi, Mar 27 (KNN) Replacing a six decade old law, the government finally notified the Company’s Act 2013 which was passed by parliament last year and provides for measures to protect interest of investors.

As many as 183 more sections of the new Act will become operational from April-1 besides 100 sections which have already been notified.

Several important measures are part of the new Act and these include mandatory spending on the corporate social responsibilities by the profit making companies beyond a specific threshold.

Apart from various sections, the Corporate Affairs Ministry yesterday also notified six schedules of the new law.

However, the Ministry of Corporate Affairs is yet to notify sections relating to Notifications related to National Financial Reporting Authority (NFRA), Investor and Education Protection Fund, sick companies, special courts and National Company Law Tribunal (NCLT).

Further, it has not notified the final rules as yet and since the entire Act will come into effect on April 1st, companies will get little or no time to digest the Rules

The voluminous legislation is spread across 29 chapters, seven schedules and 470 sections. The Companies Bill 2013 had received approval from the Parliament in August. (KNN/SD)