# Scope and Applicability of the Companies Act, 2013

## Objective

The Companies Act, 2013 consolidates and amends laws relating to companies. It was enacted to align corporate law with changes in the economic environment and to promote economic growth.

## Key Dates

Presidential Assent: 29-08-2013
Published in Official Gazette: 30-08-2013

## Enforcement Timeline

Provision	Effective Date
Section 1	30-08-2013
98 sections	12-09-2013
143 sections	01-04-2014
Remaining sections	Notified thereafter

## Structure of the Act

Rule-based legislation — empowers the Central Government to frame rules.
470 sections divided into 29 chapters.
7 Schedules.
Each chapter is accompanied by at least one set of Rules.

## Purpose of the Act

1. Improve corporate governance.

2. Simplify regulations.

3. Strengthen investor protection.

4. Ensure corporate regulations remain contemporary (in tune with changing economic realities).

⚠️ Common exam mistakes

Confusing the date of presidential assent (29-08-2013) with the date of publication in the Official Gazette (30-08-2013).
Stating the wrong number of sections (correct: 470) or chapters (correct: 29).
Forgetting that the Act is rule-based and that each chapter has its own set of Rules.

Reference: Section 1 — Companies Act, 2013

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