Extension 31-12-2020
Actually provision For appointed as an independent director.
(1) Every individual –
(a) who has been appointed as an independent director in a company, on the date of commencement of the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019, shall within a period of 5[seven months] from such commencement; or
(b) Who intends to get appointed as an independent director in a company after such commencement, shall before such appointment,
Apply online to the institute for inclusion of his name in the data bank for a period of one year or five years or for his life-time, and from time to time take steps as specified in sub-rule (2), till he continues to hold the office of an independent director in any company:
Provided that any individual, including an individual not having DIN, may voluntarily apply to the institute for inclusion of his name in the data bank.
*Commencement date was: 01 December 2019.
Provision For appointed as an independent director After Amendment date 24/06/2020.
(1) Every individual –
(a) who has been appointed as an independent director in a company, on the date of commencement of the Companies (Appointment and Qualification of Directors) Fifth Amendment Rules, 2019, shall within a period of 5[Ten months] from such commencement; or
(b) Who intends to get appointed as an independent director in a company after such commencement, shall before such appointment,
Apply online to the institute for inclusion of his name in the data bank for a period of one year or five years or for his life-time, and from time to time take steps as specified in sub-rule (2), till he continues to hold the office of an independent director in any company:
Provided that any individual, including an individual not having DIN, may voluntarily apply to the institute for inclusion of his name in the data bank.
*Commencement date was: 01 December 2019.