The State Industries Minister, Mr R.B. Subba, tabled the Registration of Companies (Amendment) Act, Sikkim, 2007 in the Assembly here on Thursday. Placing his statement of objects and reasons before the House, Mr. Subba said that the need to amend the provisions of Section 2 of the Sikkim Registration of Companies Act, 1961 has been necessitated to ensure speedy industrialisation of the State and to attract more industries and companies to the State.

The amendment in Section 2 of the Act stipulates that any company registered under the Indian Companies Act, 1956 shall apply for enlistment/identification under the Sikkim Registration of Companies Act, 1961 for the purpose of registration/entry as a company under the Sikkim Registration of Companies Act, 1961.

For all purposes, such a company will be governed under the provisions of the Companies Act, 1956 and the enlistment/identification under the Act is only for the purpose of maintaining records of companies registered under the Indian Companies Act, 1956 operating in Sikkim.

Further, the application for such registration shall be accompanied with information such as the date of registration under the Companies Act, 1956, total capital of the company; copy of the last annual return, income-tax clearance, and also clearance from the Registrar of Companies.