Section 16, The Companies (Amendment) Act, 2014

Section 58 of the Companies Act 2009 is amended byrepealing and replacing paragraph (a) of subsection (1) with the following new paragraph– “(a) any contract which if made between companies or a company and an individual would on the part of the company be required by law to be in writing under seal, or which could be varied, or discharged only by writing under seal, may be made, varied or discharged, as the case may be, in writing under the common seal of the company;”