Maintenance of databank of Independent Directors: Amendment

Maintenance of databank of Independent Directors: Amendment

G.S.R. 580(E).—In exercise of the powers conferred by section 150 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019, namely:-

1. Short Title and Commencement.─
   (1) These rules may be called the Companies (Creation and Maintenance of databank of Independent Directors) Second Amendment Rules, 2021.
   (2) They shall come into force on the date of their publication in the Official Gazette.
   
2. In the Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019, after rule 5, the following rule and the Schedule shall be inserted, namely:-
   
   “6. Annual report on the capacity building of independent directors:- The institute shall within sixty days from the end of every financial year send an annual report to every individual whose name is included in the data bank and also to every company in which such individual is appointed as an independent director in format provided in the Schedule to these Rules.

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