These rules may be called the Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019.
They shall come into force on the date of their publication in the Official Gazette .
| Rule 15 sub rule (3) in clause (a) | Companies (Meetings of Board and its Powers) Rules, 2014. | Companies (Meetings of Board and its Powers) Second Amendment Rules, 2019. | Comments |
| Sub- clause (i) | sale, purchase or supply of any goods or material, directly or through appointment of agent, [amounting to ten percent or more] of the turnover of the company or rupees one hundred crore, whichever is lower, as mentioned in clause (a) and clause (e) respectively of sub-section (1) of section 188 | sale, purchase or supply of any goods or material, directly or through appointment of agent, [amounting to ten percent or more] of the turnover of the company | The words “or rupees one hundred crore, whichever is lower”, shall be omitted. |
| Sub- clause (ii) | selling or otherwise disposing of or buying property of any kind, directly or through appointment of agent, [amounting to ten percent or more] of net worth of the company or rupees one hundred crore, whichever is lower, as mentioned in clause (b) and clause (e) respectively of sub-section (1) of section 188; | selling or otherwise disposing of or buying property of any kind, directly or through appointment of agent, [amounting to ten percent or more] of net worth of the company | The words “or rupees one hundred crore, whichever is lower”, shall be omitted |
| Sub- clause (iii) | leasing of property any kind [amounting to ten percent or more] of the net worth of company or [ten per cent or more of turnover] of the company or rupees one hundred crore, whichever is lower, as mentioned in clause (c) of sub-section (1) of section 188; | leasing of property any kind “amounting to ten per cent or more of the turnover of the company” as mentioned in clause (c) of sub-section (1) of section 188; | 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 rupees one hundred crore, whichever is lower”, the words “amounting to ten per cent or more of the turnover of the company” shall be substituted |
| Sub- clause (iv) | availing or rendering of any services, directly or through appointment of agent, [amounting to ten percent or more] of the turnover of the company or rupees fifty crore, whichever is lower as mentioned in clause (d) and clause (e) respectively of sub-section (1) of section 188 | availing or rendering of any services, directly or through appointment of agent, [amounting to ten percent or more] of the turnover of the company | The words “or rupees fifty crore, whichever is lower”. shall be omitted. |
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