*MCA UPDATE*
1. *The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019*:
MCA has issued the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 for amending Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 by providing *Compliances required by a person eligible and willing to be appointed as an Independent Director* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/Min…/…/CmpFifthAmndtRules_22102019.pdf
2. *The Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019*:
MCA has issued the Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019 for providing *Brief procedures & Requirements for Creation and Maintenance of Databank of Independent Directors* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/…/pdf/CmpInpdtDirectorsRules_22102019…
3. *The Companies (Accounts) Amendment Rules, 2019*:
MCA has issued the Companies (Accounts) Amendment Rules, 2019 for amending Rule 8 of the Companies (Accounts) Rules, 2014 by inserting Rule 8(5)(iiia):- *Disclosure requirement in Board’s Report for integrity, expertise and experience (including proficiency) of the independent directors appointed during the year* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/Minis…/…/CmpAccAmndtRules_22102019.pdf
4. *The Central Government appointed Indian Institute of Corporate Affairs at Manesar (Haryana) as an institute to create & maintain a data bank of Independent Directors.*
Link of Notification:
http://www.mca.gov.in/Minis…/…/NotificationIICA_22102019.pdf
5. All the above rules will be effective from December 1, 2019.
1. *The Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019*:
MCA has issued the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019 for amending Rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 by providing *Compliances required by a person eligible and willing to be appointed as an Independent Director* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/Min…/…/CmpFifthAmndtRules_22102019.pdf
2. *The Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019*:
MCA has issued the Companies (Creation and Maintenance of Databank of Independent Directors) Rules, 2019 for providing *Brief procedures & Requirements for Creation and Maintenance of Databank of Independent Directors* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/…/pdf/CmpInpdtDirectorsRules_22102019…
3. *The Companies (Accounts) Amendment Rules, 2019*:
MCA has issued the Companies (Accounts) Amendment Rules, 2019 for amending Rule 8 of the Companies (Accounts) Rules, 2014 by inserting Rule 8(5)(iiia):- *Disclosure requirement in Board’s Report for integrity, expertise and experience (including proficiency) of the independent directors appointed during the year* vide its Notification dated October 22, 2019.
Link of Notification:
http://www.mca.gov.in/Minis…/…/CmpAccAmndtRules_22102019.pdf
4. *The Central Government appointed Indian Institute of Corporate Affairs at Manesar (Haryana) as an institute to create & maintain a data bank of Independent Directors.*
Link of Notification:
http://www.mca.gov.in/Minis…/…/NotificationIICA_22102019.pdf
5. All the above rules will be effective from December 1, 2019.
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