What are the Statutory Forms of a Company?
What you need to know when you are asked to provide the statutory forms of your company. This post will enlighten you on the different names that your forms are known as depending on whether your company was incorporated under the 1965 Act, or the 2016 Act.
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Your company has been incorporated and now it is time to open the bank account. You go to the bank and the bank officer requests you to get your statutory / company forms from your company secretary.
You will be given a checklist that contains the names of the statutory forms, namely Forms 9, 13, 24, 44 and 49. But since your company was formed after the year 2017, you would NOT have statutory forms that are known by these 'names'. Do not fret. These are the names of the forms of companies that were incorporated under the CA 1965 (the 'old' Companies Act)
When the new Companies Act, 2016, came into force in 2017, many changes were effected. One notable change is that the names of the statutory forms were changed. Currently, all companies formed after CA 2016 came into force, have forms named after the particular section that the said form refers to.
For instance, Section 17 states that "Upon an application by a company and on payment of a prescribed fee, the Registrar may issue to the company a certificate of incorporation in the form and manner as the Registrar may determine." Hence, the Certificate of Incorporation is now known as the Section 17 form. Under the CA 1965, the Certificate of Incorporation was known as Form 9. Similarly, for many of the other forms too.
A list comparing the forms is appended here for easy reference. You may view the full list of statutory documents at the SSM website. You may contact us for a free consultation or if you wish to appoint a company secretary.
