MCA vide Notification No. G.S.R. ………(E) on Thursday, 13th July, 2017, has notified the Companies (Meetings of Board and its Powers) 2nd Amendment Rules, 2017 which shall come into force on the date of publication in Official Gazette.
Vide said notification the following rules has been amended:
- Rule 3 – Meetings of Board through video conferencing or other audio visual means;
- Sub-rule (3) (e), a director gives declaration at the beginning of the calendar year his intension to participate in meeting through electronic mode and the same shall be valid for 1 year (previously validity was for 1 calendar year).
Also, a proviso has been inserted the wherein the director who has given such declaration can attend meeting in person by giving intimation for the same sufficiently in advance.
- Sub-rule 11 (a), it has been inserted that the draft minutes so recorded shall be preserved till confirmation by directors.
- Rule 6 – Committees of the Board;
The complete rule has been amended, wherein it has now been stated that Constitution of Audit Committee and Nomination and Remuneration Committee of the Board shall be applicable to every listed company and company covered under rule 4 of the Companies (Appointment and Qualification of Directors) Rules, 2014.
The said Notification can be accessed from the following link:CoMeetingBoardPowersSecondRules_13.07.2017