{"id":250154,"date":"2021-06-22T17:49:02","date_gmt":"2021-06-22T12:19:02","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=250154"},"modified":"2021-06-22T17:49:02","modified_gmt":"2021-06-22T12:19:02","slug":"companies-creation-and-maintenance-of-databank-of-independent-directors-amendment-rules-2021","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/06\/22\/companies-creation-and-maintenance-of-databank-of-independent-directors-amendment-rules-2021\/","title":{"rendered":"Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021"},"content":{"rendered":"<p style=\"text-align: justify;\">The Central Government makes the Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 further to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/W302159Z\">Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: justify;\">The following amendment has been made:<\/p>\n<p style=\"text-align: justify;\">In Rule 3 of the Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019,<\/p>\n<ul style=\"text-align: justify;\">\n<li>in sub-rule (7)(a), after the words \u201cfor inclusion\u201d, the words \u201cor renewal\u201d shall be inserted.<\/li>\n<\/ul>\n<p class=\"j2\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">&#8220;7. The institute, shall with the prior approval <span id=\"Highlight_0090\" class=\"Highlight\">of<\/span> the Central Government, fix a reasonable fee to be charged from:\u2014<\/span><\/p>\n<p class=\"p3\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">(<i>a<\/i>) individuals for inclusion <strong>or renewal<\/strong> <span id=\"Highlight_0091\" class=\"Highlight\">of<\/span> their names in the data bank <span id=\"Highlight_0092\" class=\"Highlight\">of<\/span> <span id=\"Highlight_0093\" class=\"Highlight\">independent<\/span> <span id=\"Highlight_0094\" class=\"Highlight\">directors<\/span>; <span id=\"Highlight_0095\" class=\"Highlight\">and<\/span><\/span><\/p>\n<p class=\"p3\" style=\"padding-left: 40px;\"><span style=\"color: #008080;\">(<i>b<\/i>) <span id=\"Highlight_0096\" class=\"Highlight\">companies<\/span> for providing the information on <span id=\"Highlight_0097\" class=\"Highlight\">independent<\/span> <span id=\"Highlight_0098\" class=\"Highlight\">directors<\/span> available on the data bank.&#8221;<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li>after sub-rule (7), before explanation, the following sub-rule shall be inserted, namely:-<\/li>\n<\/ul>\n<p style=\"text-align: justify; padding-left: 40px;\">\u201c(8) In case of delay on the part of an individual in applying to the institute under sub-rule (7) for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the institute shall allow such inclusion or renewal, as the case may be, under rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 after charging a further fees of one thousand rupees on account of such delay.\u201d<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has put this story together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Government makes the Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 further to amend the Companies <\/p>\n","protected":false},"author":121,"featured_media":244192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-250154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Companies (Creation and Maintenance of databank of Independent Directors) Amendment Rules, 2021 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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