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Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022– 14th June, 2022
Mehta & Mehta > SEBI Updates > Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022– 14th June, 2022
MCA vide its notification dated 14th June, 2022, made amendments to the Companies (Appointment and Qualification of Directors) Rules, 2014. These rules may be called as Companies (Appointment and Qualification of Directors) Second Amendment, Rules, 2022.
Sr. No.
Part/Chapter/Section /Sub-section(s) in the Companies Rules, 2016 Modifications
Part/Chapter/Section /Sub-section(s) in the Companies Rules, 2016 Modifications
Comment on the Change
1.
Sub-rule 5 is inserted under Rule 6 of Companies (Appointment and Qualification of Directors) Rules, 2014
(5) Any individual whose name has been removed from the databank under sub-rule (4), may apply for restoration of his name on payment of fees of one thousand rupees and the institute shall allow such restoration subject to the following conditions, namely :- (i) his name shall be shown in a separate restored category for a period of one year from the date of restoration within which, he shall be required to pass the online proficiency self-assessment test and thereafter his name shall be included in the databank, only, if he passes the said online proficiency self-assessment test and in such case, the fees paid by him at the time of initial registration shall continue to be valid for the period for which the same was initially paid; and (ii) in case he fails to pass the online proficiency self-assessment test within one year from the date of restoration, his name shall be removed from the data bank and he shall be required to apply afresh under sub-rule (1) for inclusion of his name in the databank.”
This amendment says that if the name of any individual has been removed from IICA (Indian Institute of Corporate Affairs) databank due to his failure to pass the online proficiency self-assessment test then such individual can apply for restoration of his name on payment of fees and his name would be restored under following conditions :- His name shall be shown in a separate restored category for one year from the date of restoration. Further within that period the individual is required to pass online proficiency self-assessment test. In case, the individual fails to pass online proficiency self-assessment test within one year from the date of restoration, his name shall be removed from the data bank.
