Mandatory designation of a person in charge of Beneficial Interest in Shares of the Company:

Appointment of Authorised officer with respect of Beneficial Interest/ Company Secretary/MD/Manager or Director as Authorised Officer

Pursuant to the Companies (Management and Administration) Second Amendment Rules, 2023, the ministry of corporate affairs inserted one sub-rule 4 to Rule 9 of the Rules and made it mandatory for designate  a person  as “authorized officer with respect to beneficial interest”.

The responsibilities of  such officer includes furnishing, and extending co-operation for providing, information to the Registrar or any other authorised officer with respect to beneficial interest in shares of the company.

Until the designated officer is appointed until this rules, the following persons shall be deemed to have been designated person;  (i) company secretary, if there is a requirement of appointment of such company secretary under the Act and the rules made thereunder; or (ii) every Managing Director or Manager, in case a company secretary has not been appointed; or every director, if there is no company secretary or a Managing Director or Manager.

Every company shall inform the details of the designated person in Annual return and  If the company changes the designated person at any time, it shall intimate the same to the Registrar in e-form GNL-2 specified under the Companies (Registration Offices and Fees) Rules, 2014.