Notification, [F.No.1/32/2013-CL-V Pt.], dated 12th June, 2014
G.S.R .............- 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 to amend
the Companies (Meetings and
Powers of Board) Rules, 2014, namely:-
1. (1) These
rules may be called the Companies (Meetings and Powers
of Board) Amendment Rules, 2014.
(2) They shall come into force on the date of their publication in the Official Gazette.
2.
In the Companies
(Meetings and Powers of Board)
Rules, 2014, in rule 6,
after the explanation, the following shall be inserted, namely:-
"Provided that public companies covered under this rule
which were not required to
constitute Audit Committee under Section
292A of the Companies Act, 1956 (1 of1956) shall constitute their Audit Committee within
one year from
the commencement of these rules or appointment of independent
directors by them, whichever is earlier:
Provided further that public companies covered under this rule
shall constitute their Nomination and
Remuneration Committee within one year from the commencement of
these rules or appointment of independent directors by them, whichever is earlier.".
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