Section 21 Of Companies Act

To make other provision relating to companies and other forms of business organisation.

Section 21 of companies act. An act to reform company law and restate the greater part of the enactments relating to companies. B contracts made by or on behalf of a company may be signed by any key managerial personnel or an officer or employee of the company 1 duly authorised by the board in this behalf. Change of name by company.

It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. A company may by special resolution and with the approval of the central government signified in writing change its name. For a section 21 company less complex for a trust and least complex for a voluntary association va.

A a document or proceeding requiring authentication by a company. For this provision no rules are prescribed the companies rules 2013 section 21 is brought to force with effect from september 12 2013 corresponding provisions of the companies. Authentication of documents proceedings and contracts.

You do not generally have to withhold or pay any taxes on payments to independent contractors. Generally you must withhold income taxes withhold and pay social security and medicare taxes and pay unemployment tax on wages paid to an employee. Npcs are no longer as section 21 companies were public companies but are in a category of their own.

So the most common structure for small newly established npos is the va while trusts and section 21 companies are appropriate for larger well established npos with big budgets complex. 1 provided that no such approval shall be required where the only change in the name of a company is the addition thereto or as the case may be the deletion therefrom of the word private consequent on the conversion in accordance with the provisions of this act of a public company into a private. Chapter ii incorporation of company and matters incidental thereto sections 3 to 22 provisions of the companies act 2013.

Authentication of documents proceedings and contracts. The new act introduces a couple of new options for npcs and if your npc does want to take the opportunity to adopt these changes or if it needs to amend its moi for any other reason satisfying sars requirements is a common reason then it would be appropriate and necessary to adopt a new moi.