Threshold limits for appointment of Whole Time CS restored to 5 cr including for private companies

MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 9th June, 2014

G.S.R. 390(E).—In exercise of the powers conferred by sub-section (1) of Section 203 of the Companies Act, 2013 (18 of 2013) read with clause (51) of Section 2 and Section 469 of the said Act, the Central Government hereby makes the following rules to amend the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, namely:—


1. (1) These rules may be called the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2014.

(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 after rule 8, the following rule shall be inserted, namely:—
“8A. Appointment of Company Secretaries in companies not covered under rule 8.—A company other than a company covered under rule 8 which has a paid up share capital of five crore rupees or more shall have a whole-time company secretary.”
[F. No. 1/11/2013-CL-V]
AMARDEEP SINGH BHATIA, Jt. Secy.
Note : The principal rules were published in the Gazette of India vide notification number G.S.R. 249(E), dated the
31st March, 2014.