Friday, March 31, 2017

Companies (Meetings of Board and its Powers) Amendment Rules, 2017

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, 30th March, 2017
Companies (Meetings of Board and its Powers) Amendment Rules, 2017
G.S.R. 309(E).- In exercise of the powers conferred under sections 173, 175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section 191 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) Amendment Rules, 2017.
    (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)-
  1. in item (i), item (ii), item(iii) and item (iv), for the words “exceeding ten percent.” wherever they occur, the words “amounting to ten percent. Or more” shall be substituted; and
  2. in item (iii), for the words “ten percent. of turnover” the words “ten percent. or more of turnover” shall be substituted.
 
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