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AMENDED NOTIFICATION OF THE COMPANIES (APPOINTMENT AND QUALIFICATION OF DIRECTORS) AMENDMENT RULES, 2021 (DATED 19.08.2021)

Updated on:19th Aug, 2021
This notification has come into effect on 19.08.2021. In the Companies (Appointment and Qualification of Directors) Rules, 2014, in rule 6, in sub-rule (4), in the first proviso, for clause (B), the following clause shall be substituted, namely: “(B) in the pay scale of Director or equivalent or above in any Ministry or Department, of the Central Government or any State Government, and having experience in handling, the matters relating to commerce, corporate affairs, finance, industry or public enterprises;  or the affairs related to Government companies or statutory corporations set up under an Act of Parliament or any State Act and carrying on commercial activities.”. after the second proviso, the following proviso shall be inserted, namely: “Provided also that the following individuals, who are or have been, for at least ten years: an advocate of a court; or in practice as a chartered accountant; or in practice as a cost accountant; or in practice as a company secretary, shall not be required to pass the online proficiency self-assessment test.”.
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