PAS-3
Return of allotment. Report an allotment of shares or other securities.
| Who files | Companies making an allotment, including a private placement or a rights issue. |
|---|---|
| Governing law | Sections 39 and 42 |
| Due | Within 30 days of allotment. A private placement has its own outer date for completing the allotment. |
| How it is filed | MCA V3. |
| Fee | Normal fee. Delay uses the event-form table. |
| Certification | Professional certification as the form specifies. |
The law
Section 39, and Rule 12 of the Prospectus and Allotment Rules. A private placement is also section 42: a separate bank account, allotment within 60 days of receiving the money, and a refund within 15 days if that allotment is not made.
The deadline
PAS-3 within 30 days of the allotment. Share certificates within two months under section 56, unless the credit is in demat.
If it is missed
A late PAS-3 draws the event-form additional fee. Missing the 60 days on a private placement is a different breach. A late form does not cure a refund that was already due.
The remedy
File PAS-3 for an allotment that was actually made. If the allotment was not made in time, refund the money. Do not describe the refund as a successful allotment.
When to file
- After the board allots and the money is received.
Attachments
- Board resolution
- List of allottees
- Private placement offer letter where section 42 applies
Steps
- Receive money only through banking channels.
- Allot.
- File PAS-3.
- Issue certificates within the period in section 56.
Questions
- Is a bonus issue a PAS-3 event?
- Yes. An allotment of bonus shares is reported. A rights issue that results in allotment is also reported.
VerifiedAct-sourced — Sections 39 and 42.