MCA vide notification no. GSR.145(E) on 28/02/2020 issued Companies (Appointment and Qualification of Directors) Amendment Rules, 2020 to further amend Companies (Appointment and Qualification of Directors) Rules, 2014 which will come into force on 02/03/2020 wherein –
- In Rule 6(1)(a), the period of three months is substituted with five months.
- In Rule 6(4), the first proviso is substituted with the following-
“Provided that an individual shall not be required to pass the online proficiency self-assessment test, when he has served as a director or key managerial personnel, for a total period 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:”.
- In Rule 6(4) in the second proviso, the word “companies” is substituted by “companies or bodies corporate”.
The said Notification can be accessed through the following link:MCANoti_GSR.145(E)_28022020_ Co.(Appntmnt & Qualificatn of Directors) Amndment Rules, 2020