Databank of Independent Directors-Amendment Rules

Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 -NOTIFICATION

G.S.R. 418(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, 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) 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, in rule 3,-
   
   (a) in sub-rule (7), in clause (a), after the words “for inclusion”, the words “or renewal” shall be inserted;
   
   (b) after sub-rule (7), before explanation, the following sub-rule shall be inserted, namely:-
   
   “(8) In case of delay on the part of an individual in applying to the institute under sub-rule (7) for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the institute shall allow such inclusion or renewal, as the case may be, under rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 after charging a further fees of one thousand rupees on account of such delay.”.

Note : The principal rules were published in the Gazette of India, vide number G.S.R. 805 (E), dated the 22nd October, 2019.

Notification

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