The Companies Act, 2013
Chapter-III Prospectus and allotment of Securities
Part I- Public Offer
Section 29: Public offer of securities to be in dematerialised form.
*29. (1) Notwithstanding anything contained in any other provisions of this Act,—
(a) every company making public offer; and
(b) such other class or classes of 1[**] companies as may be prescribed,
shall issue the securities only in dematerialised form by complying with the provisions of the Depositories Act, 1996 and the regulations made thereunder.
2[(1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder.]
(2) Any company, other than a company mentioned in sub-section (1), may convert its securities into dematerialised form or issue its securities in physical 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 thereunder.
*Effective from 12.09.2013
1. Omitted by the Companies (Amendment) Act, 2019, w.e.f. 15.08.2019[S.O. 2947(E) dated 14.08.2019], the words “public“.
2. Inserted by the Companies (Amendment) Act, 2019, w.e.f. 15.08.2019[S.O. 2947(E) dated 14.08.2019].
Access complete Bare Act here and Notification and Circular here.
IBC Laws specifically does not make any warranties or representations as to the accuracy, completeness or adequacy of any such Material or the same being up-to-date. IBC Laws periodically updates the Material on this Site whenever amendments are made by Parliament. Refer disclaimer here.