GANGTOK, 20 Oct: Lok Sabha MP from Sikkim, PD Rai, in a press statement issued late this evening, explained that the unlike being claimed and speculated, the Registration of Companies [Sikkim] Act, 1961 has not been repealed. The MP has presented a detailed explanation on the situation, fleshing out the technicalities involved in passage of Acts and role of gazette notifications.
“Contrary to media reports, the status quo on the Companies Bill, 2013, remains as far as Sikkim and its interests are concerned,” Mr. Rai insists. The Companies Act 2013 received Presidential assent on 29 August and to this end, Section 1(3) of the Companies Act, 2013 states, “the remaining provisions of this Act shall come into force on such date as the Central Government may, by notification in the official gazette, appoint and different dates may be appointed for different provisions of this Act.”
“Publishing of the act in the Official Gazette does not imply its immediate implementation. The Ministry of Corporate Affairs notified several sections of the Companies Act, 2013, on 12th September. However, section 465, which repeals the Registration of Companies (Sikkim) Act, 1961, was not notified,” Mr. Rai explains.
This, he points out, is in accordance with the assurances given by the Minister of Corporate Affairs Sachin Pilot to the Members of Parliament from Sikkim. Mr. Pilot had said on the floor of the House, “I want to assure the Hon’ble Member from Sikkim that before the ‘notification’ is issued, we will have consultations with the State government, for that matter we will speak to the Chief Minister of Sikkim and the Hon’ble MPs on all issues related to Sikkim in the bill and will take into consideration all issues and address them.”
“To this end, the process of consultation and dialogue between the Sikkim Democratic Front and the Ministry of Corporate Affairs continues with the best interests of Sikkim in mind,” Mr. Rai informs.
The Party would like to add for the record that since the Sikkim Companies Act has not been repealed, and continues to be in effect, it finds the present media reports highly speculative and politically motivated, he reiterates.
“Contrary to media reports, the status quo on the Companies Bill, 2013, remains as far as Sikkim and its interests are concerned,” Mr. Rai insists. The Companies Act 2013 received Presidential assent on 29 August and to this end, Section 1(3) of the Companies Act, 2013 states, “the remaining provisions of this Act shall come into force on such date as the Central Government may, by notification in the official gazette, appoint and different dates may be appointed for different provisions of this Act.”
“Publishing of the act in the Official Gazette does not imply its immediate implementation. The Ministry of Corporate Affairs notified several sections of the Companies Act, 2013, on 12th September. However, section 465, which repeals the Registration of Companies (Sikkim) Act, 1961, was not notified,” Mr. Rai explains.
This, he points out, is in accordance with the assurances given by the Minister of Corporate Affairs Sachin Pilot to the Members of Parliament from Sikkim. Mr. Pilot had said on the floor of the House, “I want to assure the Hon’ble Member from Sikkim that before the ‘notification’ is issued, we will have consultations with the State government, for that matter we will speak to the Chief Minister of Sikkim and the Hon’ble MPs on all issues related to Sikkim in the bill and will take into consideration all issues and address them.”
“To this end, the process of consultation and dialogue between the Sikkim Democratic Front and the Ministry of Corporate Affairs continues with the best interests of Sikkim in mind,” Mr. Rai informs.
The Party would like to add for the record that since the Sikkim Companies Act has not been repealed, and continues to be in effect, it finds the present media reports highly speculative and politically motivated, he reiterates.
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