Companies (Amendment) Act, 2000

216. Insertion of new section 605A.-

After section 605 of the principal Act, the following section shall be inserted, namely:-

"605A. Offer of Indian Depository Receipts.-Notwithstanding anything contained in any other law for the time being in force, the Central Government may make rules applicable for-

(a) the offer of Indian Depository Receipts;

(b) the requirement of disclosures in prospectus or letter of offer issued in connection with Indian Depository Receipts;

(c) the manner in which the Indian Depository Receipts shall be dealt in a depository mode and by custodian and underwriters;

(d) the manner of sale, transfer or transmission of Indian Depository Receipts, by a company incorporated, or to be incorporated outside India, whether the company has or has not been established or, will or will not establish any place of business in India.".