Companies Amendment Rules, 2020- Appointment and Qualification of Directors

MCA vide notification dated 28th February, 2020, extended the last date for registration of Independent Directors in the Data Bank of independent director for next two months i.e. within 5 months from 1st December, 2019.
The Central Government therefore prepare the following standards further to alter the Companies (Appointment and Qualification of Directors) Rules, 2014, i.e. .:-    

1. (1) These standards might be known as the Companies (Appointment and Qualification of Directors) Amendment Rules, 2020
   (2) They will come into power on the date of their announcement in the Official Gazette.
2. In the Companies (Appointment and Qualification of Directors) Rules, 2014, in rule 6, –
(a) in sub-rule (1), in clause (a), the word “5 months” shall be replaced with the word “3 months” the words “5 months” shall be replaced;
(b) in sub-rule (4),-
(i) for the main clause, the following clauses shall be replaced, i.e.:-
“Given that an individual will not be required to pass the online competence self-assessment test, when he has filled in as a director or key managerial personnel for an absolute time of not less than ten years, as on the date of inclusion of his name in the databank, in one or more of the following, namely:-
(a)listed public company; or
(b) unlisted public company having a paid-up share capital of rupees ten crore or more; or
(c) body corporate listed on a recognized stock exchange:”.