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Home Sections→ 29 Public offer of securities to be in dematerialized form.

29 Public offer of securities to be in dematerialized form.

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CHAPTER III

Section 29 of Companies Act 2013

1.     Notwithstanding anything contained in any other provisions of this Act,—

a.     every company making publicoffer; and

b.    such other class or casses of public companies asmay be prescribed, shall issue the securities only in dematerialised form by complying with the provisions of the Depositories Act, 1996 and the regulations made there under.

2.     Any company,other than a company mentioned in sub-section (1), may convert itssecurities into dematerialised form or issue its securities inphysical form in accordance with the provisions of this Act or in dematerialised form in accordance with the provisions of the Depositories Act, 1996 and the regulations made there under.

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Short Notes:

  • This section came into force from September 12, 2013.
  • It provides that public company making public offer and such other class(es) of companies as may be prescribed, shall issue the securities only through dematerialized form.
  • Other companies may issue securities in physical or in dematerialized form.

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