Section 15: Alteration of memorandum or articles to be noted in every copy

Companies Act, 2013 · Chapter II: Incorporation Of Company And Matters Incidental Thereto · In force

This section requires companies to update every copy of their memorandum or articles to reflect any changes made and imposes a penalty for non-compliance.

Penalty

(2) If a company makes any default in complying with the provisions of sub-section (1), the company and every officer who is in default shall be liable to a penalty of one thousand rupees for every copy of the memorandum or articles issued without such alteration.

The section, clause by clause

What the section says

In plain terms

(1)Every alteration made in the memorandum or articles of a company shall be noted in every copy of the memorandum or articles, as the case may be.

Every alteration made in the memorandum or articles of a company shall be noted in every copy of the memorandum or articles.

(2)If a company makes any default in complying with the provisions of sub-section (1), the company and every officer who is in default shall be liable to a penalty of one thousand rupees for every copy of the memorandum or articles issued without such alteration.

If a company fails to note an alteration in every copy of the memorandum or articles, the company and every officer in default shall be liable to a penalty of one thousand rupees for every copy issued without the alteration.

The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.

Amendment notes

1. Subs. by Act 22 of 2019, s. 5, for the Proviso (w.e.f. 2-11-2018).
2. Subs. by s. 5, ibid., for “Tribunal” (w.e.f. 2-11-2018).
3. Subs. by Act 29 of 2020, s. 4, for “period of six months” (w.e.f.1-9-2021).
4. Subs. by s. 4, ibid., for sub-section (3) (w.e.f. 1-9-2021).

Referred to by

s. 425 Power to punish for contempt

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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.