MCA Amends Companies (Meetings of Board and its Powers) Rules 2014


MCA Amends Companies (Meetings of Board and its Powers) Rules 2014

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Notification

New Delhi, the …. /18 November, 2019

G.S.R. __ (E).- In exercise of the powers conferred by sections 173, 177, 178 and section 186 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Meetings of Board and its Powers) Rules, 2014, namely:-

1. (1) These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019.
(2) They shall come into force on the date of their publication in the official Gazette:

2. In the Companies (Meetings of Board and its Powers) Rules, 2014, in rule 15, in sub-rule (3), in clause (a),-

(a) in sub-clauses (i) and (ii}, the words “or rupees one hundred crore, whichever is lower”, shall be omitted;

(b) in sub-clause (iii), for the words “amounting to ten per cent or more of the net worth of the company or ten per cent or more of turnover of the company or rupeesĀ· one hundred crore, whichever is lower”, the words “amounting to ten per cent or more of the turnover of the company” shall be substituted; and

(c) in sub-clause (iv), the words “or rupees fifty crore, whichever is lower”, shall be omitted.

[F. No. 1/32/2013-CL-V-Part]

(K.V.R. Murty)

Joint Secretary to the Government of India

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